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Nebius Q1 Revenue Surges 684% to $399M, Breaks Ground on 1.2GW Pennsylvania AI Factory
NVIDIA-backed Nebius reported Q1 2026 revenue of $399 million (beating estimates of $388.57M), representing 684% year-over-year growth and its first-ever profitable quarter. The company simultaneously announced a second gigawatt-scale US data center in Pennsylvania (1.2GW), alongside the Missouri facility that broke ground May 12. Contracted capacity now exceeds 3.5GW, surpassing the prior 3GW year-end target, prompting management to raise guidance to 4GW+ by end of 2026. Stock surged 14% pre-market on what analysts called 'unprecedented demand.'
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