Wolfe Research forecasts Nebius could reach $21 billion EBITDA and $315 billion-$420 billion enterprise value by 2030.
Nebius Group holds $46 billion in signed contracts with Microsoft and Meta, positioning it to hit $33 billion in annual revenue by 2030. The company’s cloud pipeline outside hyperscalers tripled in a single quarter, while its $643 million Eigen AI acquisition aims to capture higher-margin inference workloads.
Analysts project Nebius could generate $34 billion in revenue and $21 billion in EBITDA by 2030, implying an enterprise value between $315 billion and $420 billion based on standard cloud multiples. The firm’s growth aligns with hyperscalers’ $420 billion investment in AI infrastructure, driven by demand for new computing backbones.
Investors are increasingly looking beyond established hyperscalers for AI infrastructure winners, with Nebius emerging as a potential contender in the sector.