Nebius Group N.V., the artificial intelligence infrastructure company of Yandex co-founder Arkady Volozh, released unaudited results for the 2nd quarter and 1st half ended June 30. Quarterly revenue totaled US$ 582.3 million, up 454% year over year, above the average analyst expectation of US$ 572.75 million, according to Reuters.
The net loss from continuing operations was US$ 190.4 million in the quarter, against a profit of US$ 502.5 million a year earlier. The core cloud business accounted for about 98% of total revenue, with growth of more than 500%.
Half-year
In the 1st half, revenue reached US$ 981.3 million, up 529% year over year. Net income rose 8%, to US$ 430.8 million.
Shares and contracts
Nebius shares were up 16.7% in pre-market, at about US$ 225 each, after the release. Since the start of 2026, the shares have accumulated a gain of more than 130%.
The company said it closed four contracts in the quarter, each with an average value above US$ 1 billion. The total contracted grew almost fourfold quarter over quarter.
Headquartered in Amsterdam, Nebius is the former Yandex N.V., renamed after the sale of Yandex's Russian business. The group works on AI infrastructure development and includes Avride, for autonomous vehicles, and TripleTen, for educational services, as well as stakes in Toloka and ClickHouse.
