Nebius Group, the Amsterdam-based AI infrastructure company trading on NASDAQ, just posted quarterly revenue that made Wall Street do a double take. Q2 2026 revenue came in at $582.3 million, a 454% increase year-over-year, and Bank of America responded by hiking its price target from $280 to $310.
Analyst Tal Liani maintained a Buy rating on the stock, which closed near $259.20 after the earnings release. That implies roughly 20% upside from current levels to the new target. For a stock already up more than 200% year-to-date, that kind of headroom still looks generous.
The numbers behind the hype
Nebius didn’t just grow the top line. It flipped its profitability picture entirely. Adjusted EBITDA for Q2 2026 hit $236.2 million, compared to a $21 million loss in the same quarter a year earlier.
The company also issued full-year 2026 revenue guidance of $3 to $3.4 billion. Even more eye-catching: an annualized run-rate revenue expectation of $7 to $9 billion.
