The AI cloud provider is increasing rental prices for its infrastructure components across multiple hardware categories starting in October. Nebius will raise rental rates for Nvidia GPUs by 17% to 21%, AMD EPYC Genoa CPUs by 25%, and memory by approximately 41% beginning Oct. 1, as shortages in AI computing expand beyond GPUs to include CPU and memory units.

Group revenue for the second quarter rose 454% year-on-year to $582 million, with the AI cloud business alone reaching $575 million and an annual recurring revenue of $3 billion. Nebius reaffirmed full-year revenue guidance of $3 billion to $3.4 billion and set a year-end annual recurring revenue target of $7 billion to $9 billion, contingent on data center construction timelines.