Nebius Raised Its Year-End Power Target From More Than 3 Gigawatts to 5 in 6 Months
The AI cloud provider keeps finding more power than it promised. Its own disclosed deal prices say what all those megawatts could eventually earn.
Overview
In February, Nebius Group (NASDAQ:NBIS) told investors to expect more than 3 gigawatts (GW) of contracted power by the end of 2026. In May, the target became more than 4 GW. In August, alongside second-quarter results, the artificial intelligence (AI) cloud provider raised it again, to 5 GW.
Contracted power is the raw material of Nebius' business. It's the electricity capacity the company has secured for data centers that rent out graphics processing units (GPUs). Three raises in six months say the company keeps finding more of it, faster than it expected. That escalation has my attention.
Details
Nebius carries a market value of about $56 billion, with shares just above $200 as of this writing. Its revenue over the past 12 months was about $1.4 billion.
Source
Originally published at www.fool.com.