Amsterdam, November 11, 2025 — Nebius Group (NASDAQ: NBIS) reported third-quarter 2025 results showing revenue of $146.1 million, up 355% year over year, as the company accelerated expansion in global AI infrastructure and secured new multi-billion-dollar hyperscale partnerships. The company announced that its $17.4–$19.4 billion AI infrastructure contract with Microsoft remains on track and disclosed a new five-year, $3 billion agreement with Meta to deliver large-scale compute capacity beginning in 2026.
Founder and CEO Arkady Volozh said Nebius has “sold out all available capacity,” driven by AI demand from enterprise and cloud customers. Nebius expects to reach 2.5 GW of contracted power by end-2026 — up from 1 GW previously — with 800 MW to 1 GW of connected power coming online next year. Q3 capital expenditures reached $955 million, largely for GPU purchases and data center build-outs. The company ended the quarter with $4.9 billion in cash and $4.1 billion in long-term debt after raising $4.3 billion in convertible notes and equity offerings in September. Nebius also plans an at-the-market equity program of up to 25 million Class A shares to fund future growth .
The company said its AI cloud segment — responsible for 90% of revenue — grew 400% year over year and generated positive adjusted EBITDA in Q3 (–$5.2 million overall loss versus –$45.9 million a year ago). Nebius introduced its enterprise-grade AI Cloud 3.0 “Aether,” with SOC 2 and ISO 27001 compliance, and launched the Nebius Token Factory inference platform to industrialize open-source AI model deployment. The company also expanded partnerships with TD Synnex, Anyscale, and Baseten to extend reach across enterprise and developer ecosystems. Avride, its autonomous vehicle subsidiary, received a strategic investment from Uber and plans to launch robotaxi services in Dallas by December 2025.
“Our mission is to become one of the world’s leading AI infrastructure providers,” Volozh said. “2025 has been a building year as we put in place the infrastructure for future rapid growth. We believe we have laid the foundations for an outstanding 2026 that positions Nebius among the top AI cloud businesses globally.”
🌐 Analysis: Nebius has emerged as a key independent AI infrastructure player amid the capital-intensive race between hyperscalers and specialized providers such as CoreWeave and Lambda. Its contracts with Microsoft and Meta validate Nebius’s ability to deliver hyperscale compute outside the traditional cloud oligopoly. With nearly $5 billion in cash and a 2.5 GW capacity target, Nebius is positioning to serve the next wave of frontier model deployments and agentic AI workloads across North America, Europe, and the Middle East.
• Q3 revenue up 355% to $146 million; core AI infrastructure = 90% of total
• $17–19 billion Microsoft contract ramping 2026; new $3 billion Meta deal over 5 years
• CapEx $955 million driven by GPU build-out; cash balance $4.9 billion
• Connected power forecast raised to 1 GW by end-2026 (2.5 GW contracted)
• Positive EBITDA in core AI segment; Group adjusted EBITDA loss narrowed to $5.2 million
• New Nebius AI Cloud 3.0 “Aether” and Token Factory for enterprise AI deployments
• Uber invests in Avride; robotaxi launch set for Dallas December 2025
• ATM equity program for 25 million Class A shares to fund growth
• Goal: $7–9 billion annualized run-rate revenue by end 2026
🌐 We’re tracking the latest developments in AI infrastructure. Follow our ongoing coverage at: https://convergedigest.com/category/ai-infrastructure/
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