Hashrate is gold! Single contract exceeds $1 billion, AI rising star Nebius (NBIS.US) sees cloud business revenue soar by 500%, shares surge pre-market

According to Golden Ten Data, Nebius (NBIS.US) saw its cloud business sales surge 514% year-over-year in the second quarter, driven by robust demand for artificial intelligence computing power. Financial reports show that its AI cloud business revenue—which accounts for the majority of its business—reached $575 million for the quarter. Total quarterly revenue exceeded $582 million, up 454% year-over-year, surpassing analysts’ expectations of $557 million. Loss per share was $0.68, $0.18 higher than expected.