Nebius Group Posts Q1 2026 Profitability as AI Cloud Revenue Jumps 684%

Nebius Group reported a dramatic rise in first‑quarter 2026 revenue to $399 million, a 684 % increase from $50.9 million a year earlier, driven by accelerating demand for artificial‑intelligence infrastructure. The surge allowed the company to post adjusted EBITDA of $129.5 million, reversing a $53.7 million loss recorded in the same period last year.

Despite the operating‑line profit, the broader net loss widened, highlighting ongoing investment pressures as the firm expands its hyperscale GPU clusters. Analysts noted the results underscore the high utilisation leverage possible in AI‑focused cloud services, though the balance sheet remains a concern for investors.