Nebius falls over 9% in US premarket trading, 2027 capital expenditure guidance as high as $45 billion.

BlockBeats news, November 12 — AI cloud computing company Nebius released its third-quarter financial report, with revenue up 571% year-over-year to $981 million, beating market expectations by about 8%; adjusted EBITDA reached $466 million, also above the expected $357 million. However, the company expects full-year 2026 revenue to land at the low end of its guidance range of $3 billion to $3.4 billion, below market expectations of about $3.37 billion.

What drew even more market attention is that Nebius expects capital expenditures in 2027 to reach $40 billion to $45 billion, while providing revenue guidance of $12 billion to $13 billion, roughly four times that of 2026. The company said customer prepayments and investment-grade contracted asset-backed financing are expected to cover 75% to 85% of next year's capital expenditures, with prepayments expected to grow from about $10 billion this year to $17 billion to $20 billion.

The company's CEO said that since the third quarter, the total value of newly signed contracts has exceeded $12 billion, with Databricks, Datadog, Palantir and Snowflake all signing multi-year agreements with the company for the first time. Despite the significant earnings beat, the full-year revenue guidance falling short of expectations and next year's capital expenditure plan of up to $45 billion still sparked market concerns about AI infrastructure expansion and financing pressure.