--- title: "Transforming from \"the Russian version of Google\" to a European cloud giant! Nebius Q1 revenue surged by 684%, intensifying its investment in U.S. AI infrastructure" type: "News" locale: "en" url: "https://longbridge.com/en/news/286265592.md" description: "Nebius announced its first-quarter performance, with revenue soaring 684% year-on-year to $399 million, exceeding market expectations. AI cloud service revenue reached $390 million, a year-on-year increase of 841%. The company's power capacity has surpassed 3.5 gigawatts, with the year-end target raised to over 4 gigawatts. Nebius plans to build a large AI campus in the United States, expecting revenue to reach $3 billion to $3.4 billion by 2026. As the former \"Russian Google,\" Nebius has successfully transformed into a European AI cloud giant" datetime: "2026-05-13T12:58:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286265592.md) - [en](https://longbridge.com/en/news/286265592.md) - [zh-HK](https://longbridge.com/zh-HK/news/286265592.md) --- # Transforming from "the Russian version of Google" to a European cloud giant! Nebius Q1 revenue surged by 684%, intensifying its investment in U.S. AI infrastructure According to Zhitong Finance APP, on Wednesday before the US stock market opened, European artificial intelligence (AI) cloud service company Nebius (NBIS.US) announced its first-quarter performance. The data shows that thanks to a surge in spending in the AI sector, Nebius' first-quarter revenue increased by 684% year-on-year to $399 million, better than the market expectation of $389 million; GAAP earnings per share were $2.11, while the market had previously expected a loss of $0.70 per share. ![91f8ec0b4daf7f3ede48e625b0253921.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260513/1778676533259720.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **AI Cloud Revenue Soars, Increasing Investment in the US Market** The data shows that Nebius' first-quarter AI cloud revenue was $390 million, an increase of 841% year-on-year and 82% quarter-on-quarter. The scale of self-owned power continues to expand rapidly. The company's contracted power capacity has now exceeded 3.5 gigawatts, significantly surpassing the previously set year-end target of 3 gigawatts. With strong project execution capabilities, Nebius has officially raised its year-end contracted power capacity guidance to over 4 gigawatts. In terms of global AI infrastructure layout, the company has finalized two gigawatt-level large park plots in the United States. The Missouri park officially broke ground yesterday; the company has secured a maximum power quota of 1.2 gigawatts in Pennsylvania for its exclusive AI factory, with the project set to be phased into production starting in 2027. Looking ahead for the year, Nebius expects revenue to reach $3 billion to $3.4 billion in 2026, with annual recurring revenue (ARR) reaching $7 billion to $9 billion. ![e9a2d1cc27341bcd08f44f1ad704a830.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260513/1778676318760423.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **Rebirth Transformation! From Russian Google to European AI Giant** It is worth mentioning that as a rising star in the global AI arena, Nebius has a legendary development background. Its predecessor was Yandex N.V., known as the "Russian Google." Under the impact of the geopolitical situation in 2022, Yandex divested its domestic Russian business and initiated a restructuring, relocating its headquarters to Amsterdam and restarting trading on NASDAQ under the new code NBIS, transforming from a traditional internet giant into a European AI cloud giant. Nebius continues to deepen its strategic cooperation with US tech giants, securing a $2 billion strategic investment from NVIDIA in March 2026, with plans to jointly build over 5 gigawatts of computing power centers by 2030. Nebius has also signed a second major long-term agreement with Meta, with a cooperation scale of up to $27 billion. Nebius CEO Arkady Volozh stated in a letter to shareholders that the company still sees "unprecedented" demand for computing powerVolozh wrote in the letter: "As more and more industries embrace artificial intelligence, companies are shifting from the experimental phase to practical applications, and the demand for computing and cloud services is far exceeding existing capacity. We have personally felt this demand and are meeting it through our full-stack native AI cloud." He also stated: "We are a technology-driven company. We have world-class engineers and possess deep proprietary technology at every layer of the tech stack. From infrastructure and multi-tenant cloud services to inference solutions and agent platforms, we can provide comprehensive solutions." After the earnings report was released, as of the time of writing, Nebius rose 15.4% in pre-market trading. 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