Nebius Raises Capex 65% to $95M, Splits $45M GPUs, $50M Data Centers
Nebius boosted fourth-quarter capital expenditures by 65% year over year to $95 million, directing $45 million toward GPU hardware and $50 million to new data center construction. The firm plans to commission two hyperscale facilities by mid-2026 to support its high-performance AI cloud platform.
1. Capex Surge Driven by GPUs
Nebius allocated $45 million of its $95 million fourth-quarter capital expenditures to high-performance GPU clusters, marking a 65% increase from the prior-year period. Management cites rising AI workload demand as the key driver behind the accelerated hardware investment.
2. Data Center Expansion Strategy
The remaining $50 million funded construction and outfitting of two new hyperscale data centers, which will add 30% more capacity to Nebius’s global infrastructure. These facilities are scheduled to enter service by mid-2026, targeting AI model training and inference workloads.
3. Impact on Operations and Margins
While the elevated capex will pressure near-term free cash flow, Nebius expects the expanded GPU and data center footprint to drive revenue growth above 50% annually through 2027. Analysts note that improved utilization rates at the new sites could bolster gross margins starting in late 2026.