Nebius Q2 Earnings: AI Cloud Revenue Surges 514% to $575M with Billion-Dollar Deals
demian_ai · x · 2026-08-12
AI cloud service provider Nebius released its outstanding Q2 2024 earnings report, demonstrating explosive growth in its core business.
- Revenue & Profit: AI cloud revenue skyrocketed by 514% to $575 million, while the adjusted EBITDA margin improved to 50%.
- Major Contracts: Total contract value (TCV) won during the quarter increased 4x, highlighted by four landmark customer agreements averaging over $1 billion in TCV. The average annual contract value stands above $20 million per MW.
- Compute Expansion: The company increased its contracted capacity guidance for 2026 to 5 GW and expects to deploy more than 1 GW per year starting in 2027.
Related event: Nebius Q2 AI Cloud Revenue Surges Over 500%(2 posts)→
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