Nebius Group reported second-quarter 2026 revenue of $582.3 million, up 454% from a year earlier and above the $572.75 million consensus estimate, even as adjusted loss per share came in at 68 cents versus expectations for a 62-cent loss. Adjusted EBITDA rose to $236.2 million from a $21 million loss a year earlier, while adjusted net loss narrowed to $33.2 million from $91.5 million. AI cloud revenue climbed 514% to $574.9 million, accounting for about 98% of group revenue, and annualized run-rate revenue reached $3 billion, up from $1.9 billion at the end of March. Nebius said it signed four major AI cloud deals averaging more than $1 billion in total contract value, raised its year-end 2026 contracted power forecast to 5 gigawatts from more than 4 GW, expects more than $9 billion in customer prepayments this year and reaffirmed full-year 2026 guidance across all metrics. Shares rose 15.69% to $223.55 in premarket trading on Wednesday as the company pointed to strong demand, early customer engagement around NVIDIA Vera Rubin systems and more than $40 billion in customer commitments.