Nebius beats quarterly revenue estimates on strong AI demand

GreyOak summary

AI cloud company Nebius reported third-quarter revenue of $981 million, surpassing analyst estimates of $907.5 million. The company projects $12-13 billion in sales for 2027, driven by customers committing to longer, higher-priced deals with significant prepayments covering capital spending. Nebius expects to break even on a pre-tax basis by the end of 2027.