Nebius secured local approval to build its largest U.S. AI factory campus with 1.2GW capacity on 400 acres, featuring closed-loop cooling, noise reduction and connection to the local power grid without raising residential rates. The project is expected to generate 1,200 construction jobs, 130 permanent high-tech roles and $650 million in PILOT payments over 20 years.

In the fourth quarter, revenue rose 547% year-over-year to $227.7 million, driven by an AI cloud segment surge of over 800% which accounted for 94% of total revenue, resulting in an annualized run-rate of $1.25 billion. Adjusted loss narrowed to $0.68 per share, beating the forecasted loss of $1.14.

Nebius closed the year with 170 megawatts of active power, surpassing its 100MW target, and secured over 2 gigawatts of contracted power, with expectations to exceed 3GW by end-2026. Management reaffirmed its goal of reaching $7–9 billion in annualized run-rate revenue by year-end 2026.

Following the approval and strong quarterly metrics, Nebius shares rose over 2.6% in premarket trading. An analyst firm initiated coverage with a Buy rating and $150 price target, reflecting optimism about the company’s AI infrastructure expansion and cloud growth trajectory.