Nebius Group, an artificial intelligence infrastructure and neocloud company headquartered in Amsterdam, reports that prepayments on its Q3 agreements covered more than 100 percent of the associated capital expenditure, including data center construction and networking, up from 50 to 60 percent in Q2 2026.
In its results for Q3 2026, the company also revised its capex guidance for 2026 to approximately US$ 27 billion, above its previous range of US$ 20 billion to US$ 25 billion, as it invests in capacity for 2027, in particular at its own sites. It expects to reach pre-tax breakeven by the end of 2027.
Arkady Volozh, Nebius Group Chief Executive Officer and founder, told investors that the company expects prepayments and financing against existing contracts with investment-grade customers to cover between 75 and 85 percent of its 2027 capex.
“In recent weeks our industry has been asked questions about how the AI build-out will be financed. Our focus remains on building a healthy, profitable business for the long term. We will continue to invest across the business – in our capacity and infrastructure build-out, in our platform and products, and in the team that takes this to market,” Volozh wrote in a letter to shareholders.
Across its sites, Nebius now has more than 4 GW of capacity contracted and it is on track to have 5 GW of contracted power by the end of the year.The company has also secured exclusive site rights for a planned 100 MW multi-campus AI data center project in Alberta, Canada. The Canada site is expected to come online in 2027, as will a new 50 MW colocation facility in South Carolina, and two colocation facilities in India, the company’s first in the Asia-Pacific region.
The company told shareholders that its asset-light model will contribute “to our ability to expand beyond our own contracted power in a cost-efficient way.”
For the quarter, Nebius reported that revenue had grown 571 percent from US$ 146.1 million in Q3 2025 to US$ 980.8 million. Adjusted EBITDA was US$ 465.8 million against a loss of US$ 5.2 million. Net losses were reduced from US$ 119.6 million to US$ 37.5 million. Revenue for 2026 is now expected to be at the low end of the US$ 3 billion to US$ 3.4 billion range, and 2027 revenue is expected to be between US$ 12 billion and US$ 13 billion.