Overview
- Meta signed a roughly $3 billion, five-year AI infrastructure contract, Nebius’ second hyperscaler deal after Microsoft, with delivery capacity to be deployed within three months.
- Management said the contract size was capped by available resources and that all capacity was sold out in the quarter.
- Third-quarter revenue rose to $146.1 million, up about 355% year over year but below estimates, while the net loss widened to nearly $120 million.
- Capital expenditures climbed to $955.5 million as Nebius invested in GPUs, land and power to expand data center capacity.
- Nebius is targeting $7 billion to $9 billion in ARR by the end of 2026, plans to reach about 2.5 GW of contracted power, and launched an ATM for up to 25 million shares while evaluating asset-backed and corporate debt.