Nebius reports first-quarter revenue surging nearly sevenfold amid rising artificial intelligence infrastructure spending.
Nebius (NBIS) shares climbed over 12% in premarket trading after the cloud computing provider announced first-quarter revenue rose nearly sevenfold. The surge follows increased demand for AI-related infrastructure and services during the period ending March 31.
The company did not disclose specific revenue figures but attributed growth to expanding enterprise adoption of AI workloads. Comparable cloud providers have also seen accelerated revenue in recent quarters, driven by similar trends in AI investment.
Premarket trading indicated strong investor reaction, with NBIS shares extending gains ahead of the market open.