Nebius Group reported $582.3 million in second-quarter revenue, up 454% year over year, while recording $236.2 million in adjusted EBITDA and a $33.2 million adjusted net loss.
In an August shareholder letter, Nebius said it entered four AI cloud contracts during the second quarter. The four contracts had an average total contract value of more than $1 billion, with annual contract value of $20 million to $25 million per megawatt, the letter said.
Customer advances were included in about 70% of all second-quarter deals and covered 50% to 60% of related capital spending, according to the letter. EconoTimes previously described how customer advances fit into Nebius’ capacity expansion plans.
Nebius said capacity tied to many second-quarter contract wins was expected to come online in late 2026, with most of the related revenue expected in 2027.
