Overview
- Revenue surged 355% year over year in Q3 and 437% for the first nine months of 2025, reflecting exceptional demand.
- CEO Arkady Volozh said Nebius sold out all available capacity in Q3 and sells every tranche brought online.
- Nebius disclosed two mega-deals this fall: an AI infrastructure agreement with Microsoft valued at $17.4–$19.4 billion and a $3 billion contract with Meta.
- Management said the Meta deal might have been larger if Nebius had more capacity, highlighting ongoing supply constraints.
- The company remains unprofitable with a Q3 GAAP net loss of $119.6 million and an adjusted net loss of $100.4 million, while shares are up over 230% year to date but more than 30% below their peak as investors weigh debt and high capex risks.