Nebius Group N.V. (NBIS)

Research cutoff: August 2, 2026. Currency: U.S. dollars unless stated otherwise. This memo compares four Modeledge company dossiers—CoreWeave, Nebius, Boost Run, and SharonAI—to isolate claims that remain true across different operators, accounting presentations, contract structures, and capital stacks. “Consistently true” means supported by at...

Best independent sources for monitoring Nebius’s physical data-center expansion: Use SMASIMHO for the dashboard, Northwise for detailed diligence, and Tilebox for independent physical verification. Do not treat contracted or planned MW as connected, energized or monetized MW; that conversion is the central NBIS execution variable. Research checked July...

Nebius does not disclose standalone revenue, annualized revenue, token volume, customer count, or gross margin for Token Factory. The business is reported inside Nebius AI Cloud, and dedicated endpoints are billed per GPU-hour while shared endpoints are billed per token. Any estimate therefore requires reconstructing the business from public traffic, named...