Nebius Group reported Q2 2026 revenue of $582.3 million, up 454% from a year earlier, and adjusted EBITDA of $236.2 million, while fresh details on contract wins, Blackwell pricing and customer prepayments reinforced the company’s momentum in AI infrastructure. Shares rose 8.23% to $276.04 on Friday even as broader U.S. indexes fell. Nebius said its core AI cloud business grew 514% year over year and that it closed four landmark cloud deals during the quarter, each with an average total contract value of more than $1 billion. Founder and CEO Arkady Volozh said the company’s first capacity auction for NVIDIA Blackwell chips cleared at prices 15% above its previous highest rates, calling it a real-time signal of demand and pricing power. Nebius also said about 70% of its second-quarter deals included customer prepayments covering 50% to 60% of capital expenditures, helping support expansion. The update adds to an already bullish narrative after Bank of America raised its price target on the NASDAQ-listed company to $310 from $280 while maintaining a Buy rating, even as Michael Burry has disclosed a short position in the stock.