Nebius Group’s AI Business Fuels Revenue Surge

Nebius Group (NBIS) has released an update.

Nebius Group reported a robust 1.7-fold increase in Q3 2024 revenue, reaching $43.3 million, largely driven by its burgeoning AI infrastructure business, which grew 2.7 times from the previous quarter. The company, specializing in AI-centric cloud platforms, is expanding its GPU cluster capabilities in Europe, aiming to support more AI model developments. With strategic investments in AI infrastructure and innovative product launches, Nebius is poised for further growth in the rapidly evolving AI market.

For further insights into NBIS stock, check out TipRanks’ Stock Analysis page.