Nebius Reports 684% Sales Jump on AI Data Center Growth

Cloud computing provider Nebius Group NV reported a 684% jump in first quarter sales on increased demand for its data centers.

Revenues reached $399 million for the quarter, the Amsterdam-based company said in a statement on Wednesday, slightly above analyst expectations. Adjusted earnings before interest, taxes, depreciation, and amortization were $129.5 million, after a loss during the same period last year.