Nebius sees profits leap, hit by data centre delays

European AI infrastructure company Nebius today reported a surge in quarterly revenues to $981m but said some of its co-location data centre sites powering AI had been hit by delays. The so-called neocloud also said it has a rise in adoption of open-weight models on its platform. Nebius reported a 571 per cent leap in year on year Q3 revenues to $981m, fuelled by demand for its AI infrastructure offering. Nebius, which is sometimes referred to as a neocloud, builds and operates data centres, packing them with GPUs, then offers access to these data centres to AI and enterprise companies needing compute power, as well as offering them specialised software to run AI applications. The Amsterdam-listed company reported a net loss of $37.5m in the quarter, a reduction compared to a loss of $119.6m the previous year. Nebius had lost more than a third of its value last month as investors questioned whether the AI infrastructure boom was becoming too expensive to sustain. The company says i