Nebius's revenue surged nearly sevenfold — and it's building an AI factory in Pennsylvania

The AI cloud company posted $399 million in first-quarter revenue, up 684% from a year ago, and secured land and power for a new U.S. site

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Nebius reported first-quarter revenue of $399 million, a 684% increase from $50.9 million a year earlier, and announced plans for a new AI factory in Pennsylvania. Nebius stock rose 13% in premarket trading.

The company said it has secured up to 1.2 gigawatts of power and land for the owned Pennsylvania site. The announcement came alongside first-quarter results that beat analyst expectations of $371.4 million, according to Reuters.

Adjusted EBITDA reached $129.5 million for the quarter, compared........

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