Nebius reports a 454% revenue jump to $582.3 million and adjusted EBITDA of $236.2 million, defying short-seller concerns over AI spending returns.
Nebius Group N.V. (NASDAQ:NBIS) shares climbed over 20% after the AI infrastructure firm announced its capital expenditure payback period on recent deals fell to one year and 10 months, down from two to three years. The company cited improved economics as a key driver behind the shift.
Revenue surged 454% to $582.3 million in the quarter, while adjusted EBITDA swung to $236.2 million from a $21 million loss a year earlier. Second-quarter deals generated over $20 million in annual contract value, with CEO Arkady Volozh noting the company could sell all 2027 capacity under current terms.
The results countered concerns raised by short-seller Michael Burry, who disclosed positions in Nebius at $211.77 and Oracle Corp., questioning the returns on AI-related capital spending. Nebius’s faster payback period suggests growing efficiency in its AI infrastructure investments.