Nebius reports higher capex on AI cloud expansion goals
Nebius Group reported first-quarter capital expenditure of 2.5 billion dollars to fund its AI infrastructure growth. Total revenue rose to 399 million dollars.
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NEBIUS GROUP NV reported first-quarter capital expenditure rose to $2.5 billion, exceeding analyst estimates of $2.4 billion. Spending rose from $544 million a year earlier as Nebius purchases NVIDIA CORP hardware for AI cloud expansion. The rapid capex ramp pressures near-term margins despite strong revenue growth, a concern shared across the sector.
