Nebius, the AI neocloud specialized in which Nvidia holds 9.3%, posted a net profit of $393.3 million (€353 million) in the first nine months of 2026. This figure represents an advance of 12% compared with the same period of the previous fiscal year, after cutting almost 69% its losses from the third quarter, which stood at $37.5 million (€34 million).
The company’s revenue, headquartered in Amsterdam and listed on the Nasdaq, surged to $1.962 billion (€1.763 billion) between January and September, implying a 549% year-on-year increase. Between July and September, revenue reached $980.8 million (€881 million), 571% higher than in the same period of the previous year.
For the full year of 2026, Nebius has revised its forecasts by assuming that part of the capacity of third parties that it expected to put into operation this year will finally become operational in the first half of 2027.
With this adjustment, the company now expects that annual revenue will be in the lower end of the range between $3.000 and $3.400 million (€2.696 and €3.056 million), and keeps around 40% its adjusted EBITDA margin.
At the same time, the firm projects capital expenditures close to $27.000 million (€24.264 million), above the previous range of between $20.000 and $25.000 million (€17.974 and €22.467 million).
Looking at 2027, Nebius calculates revenue of between $12.000 and $13.000 million (€10.784 and €11.683 million), which, according to the company, reflects “a prudent approach” in the pace of expansion. For that year, it expects CapEx of between $40.000 and $45.000 million (€35.947 and €40.440 million).
On the stock market, shares of Nebius fell by as much as 23% after the Nasdaq opened, although after the first hour of trading the decline moderated to 18%. Despite this correction, so far this year the neocloud’s shares have accumulated a gain of close to 40%.