Nebius Q3 revenue jumps 571% as prepayments cover new capacity costs

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Nebius Group reported Q3 2026 revenue of $980.8 million, a 571% year-over-year increase, driven by AI cloud growth and capacity expansion. Customer prepayments now cover more than 100% of capital expenditures for new contracted capacity, up from 50-60% in Q2. The company narrowed 2026 revenue guidance to $3-3.2 billion due to third-party site delays and issued 2027 guidance of $12-13 billion. Management expects pretax profitability in Q4 2027, with 2027 capital expenditures of $40-45 billion. The company signed $12 billion in new customer commitments since Q3 start, including agreements with Databricks, Datadog, and Snowflake.


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