Overview

• Nebius signed a multi-year, multibillion-dollar agreement to provide dedicated AI capacity to Microsoft from a new Vineland, New Jersey data center starting later in 2025.
• Northland raised its Nebius price target to $206 from $77 and kept an Outperform rating, naming the company a top sector pick.
• The firm boosted its AI-as-a-Service market view to $800 billion and lifted Nebius’s projected share to 9%, increasing revenue estimates.
• Nebius reported Q2 2025 revenue growth of 625% year over year and 106% sequentially, highlighting accelerating demand for its platform.
• To fund expansion, Nebius raised about $4.3 billion through Class A share sales and convertible notes due 2030 and 2032, with the convert offering upsized to $3.16 billion.