Artificial Intelligence cloud firm Nebius saw sales surge by over 300% during the quarter, while also signing a multi-billion-dollar deal with Meta.
The company announced that it had signed an agreement to deliver AI infrastructure to Meta over the next five years, which was valued at around US$3 billion (A$4.6 billion).
“Over the next three months, we plan to deploy the capacity needed to service the agreement,” Nebius co-founder and CEO Arkady Volozh said.
“In fact, demand for this capacity was overwhelming, and the size of the contract was limited to the amount of capacity that we had available.”
At the same time, Nebiu revealed that its revenue rose 355% year-over-year during its third quarter to $146 million.
It forecasts that its annual run-rate revenue will reach $7 billion to $9 billion by the end of 2026.
Despite this, the company is still at a net loss of $119.6 million, rising 174% from a net loss of $42.6 million a year ago.
Still, shares for Nebius climbed 300% this year as its strength as a leading neocloud provider garnered attention.
Volozh said to support “aggressive growth” plans for 2026 and into the future, the company would “utilise at least three sources of financing: corporate debt, asset-backed financing, and equity”.
“We believe we will be able to secure asset-backed debt on attractive terms, supported by the creditworthiness of our largest customers,” he said.
“We will maintain a disciplined capital structure.”
In September, the company also inked a deal worth around $17.4 billion with Microsoft.
At the time of writing, Nebius (NASDAQ: NBIS) shares finished down 7.03% to $102.22.
