Nebius beats quarterly revenue estimates as AI demand fuels growth

Aug 12 : Nebius Group surpassed second-quarter revenue estimates on Wednesday as booming demand for AI infrastructure and cloud services helped the company win larger contracts and raise prices for computing capacity, sending its shares up 12 per cent in premarket trading.The Amsterdam-based AI infrastructure firm reported total revenue of $582.3 million for the quarter ended June, compared with analysts' average estimate of $572.75 million, according to data compiled by LSEG. Revenue at its core AI cloud business, which accounted for about 98 per cent of group revenue, rose more than 500 per cent.The company also reaffirmed its full-year 2026 outlook and said demand for AI computing capacity continued to accelerate, helping it secure larger and more profitable customer contracts."Everythi