Nebius valued at 55 times revenue amid AI infrastructure growth

Nebius Group, the Amsterdam-based AI infrastructure company trading on Nasdaq under ticker NBIS, currently commands a market capitalization of roughly $48 billion. Its trailing twelve-month revenue sits at approximately $878 million. Quick math puts the stock at about 55 times trailing sales. The numbers behind the hype In the first quarter of 2026, Nebius posted $399 million in revenue. That represents a 684% increase compared to the same period a year earlier. For context, full-year 2025 revenue was $529.8 million, meaning Q1 2026 alone captured roughly 75% of last year’s entire haul in a single quarter. The growth engine is the company’s core AI cloud services segment, which provides GPU computing infrastructure to enterprises training and deploying AI models. Nebius has secured committed contractual backlog exceeding $40 billion to $50 billion in future revenue. The marquee contract is a multi-year agreement with Meta Platforms potentially worth up to $27 billion, anchored by a $12 billion firm commitment with additional spending expected as the partnership scales. From Yandex to AI infrastructure play Nebius didn’t materialize from thin air. The company was previously known as...