Nebius Group reported that second-quarter revenue surged to $105.1 million, a 625% year-over-year increase and ahead of the $101.2 million consensus forecast. The cloud-infrastructure provider said growth was driven by strong demand for its artificial-intelligence compute services. The company’s adjusted EBITDA loss narrowed to $21.0 million, significantly better than Wall Street’s projected $59.6 million shortfall. Nebius added that its core business achieved positive adjusted EBITDA earlier than planned, underscoring improving operating leverage. On the back of the stronger performance, management lifted its 2025 annualized run-rate revenue outlook to a range of $900 million to $1.1 billion, up from $875 million previously. The company also outlined plans to expand power capacity to more than one gigawatt by 2026 to support continued AI-related demand. The upbeat results and higher guidance prompted several brokerages to raise their price targets. BWS Financial moved to $90 from $80, Goldman Sachs to $77 from $68 and DA Davidson to $75 from $65, all while reiterating buy ratings on the stock.