Nebius said on Tuesday that demand for its AI infrastructure remains ahead of supply, while the company reported revenue growth and longer-term customer visibility. The remarks came at the Goldman Sachs Communacopia + Technology Conference 2026 on September 8, 2026, with CEO Arkady Volozh and Chief Revenue Officer Marc Boroditsky participating in a session moderated by Alex Duval, head of Europe tech, hardware and semis research at Goldman Sachs.
Nebius said revenue grew 507% over the last twelve months to $1.36 billion. The company also cited four landmark customer wins that averaged about $1 billion each in contract value. A recent auction for Blackwell capacity produced prices 15% to 20% above prior list rates.
Volozh said demand is growing "times a year, if not tens of times a year," while the physical world cannot keep up at that pace. He added that Nebius could sell all of its 2027 demand today and described visible demand as "unlimited." Customer demand visibility has extended to 24 months or more, up from an earlier 18-month view, and the company is receiving orders for the first and second quarters of 2028. Customers are requesting tens of thousands of vGPUs and GPUs.
Boroditsky outlined three contract buckets. Short-term deals of three to six months are often used for scale training runs and are priced at a premium. Medium-term deals of one to three years represent the "lion's share" of the opportunity. Long-term deals of five years or more have historically been used with hyperscalers for capital support.
The company also described demand for newer chips such as Blackwell and Vera Rubin as "extraordinarily robust," while older-generation chips remain strong for simpler workloads such as RAG infrastructure, text prediction and image creation, where customers understand total cost of ownership. One customer described its technical experience with a Nebius proof of concept as the best it has had with any supplier in the industry.
On industry supply, the company said global AI infrastructure capacity is expanding by about 5 to 10 gigawatts a year, potentially rising to 15 to 20 gigawatts in 2028. Planned additions from xAI and Meta are estimated at 6 to 8 gigawatts, adding about 20% to 30% incremental supply in that market.
Nebius shares closed at $243.88, up 7.73% from the previous close of $226.39, and traded at $244.49 after hours, up 0.25%. The stock has a 52-week range of $73.52 to $299.86, a past-year return of 281% and a market capitalization of $62.05 billion. Volozh also referenced a tweet by the CEO of Shopify showing the company used open-weight models trained repeatedly with its own data to achieve quality higher than it had with GPT-5 and 6 in its specific domain.
