Hyperscaler capex

Nebius capex, CY2026 Q1

Nebius reported $2.5B of capex for CY2026 Q1, the quarter covering January to March 2026. That is +355% on the $544M of the same quarter a year earlier (CY2025 Q1).

Nebius provides GPU cloud infrastructure and software for AI training and inference. The figures are consolidated cash purchases, including intangible assets, rather than a pure datacenter-construction measure.

Capex, CY2026 Q1$2.5B
Year on year+355%

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Verified

Every field, with its source

Source per value
Reported quarter
CY2026 Q1 1
Calendar quarter
2026 Q1 1
Quarter end
2026-03-31 1
Capex (USD million)
2,472.9 1
“(2,472.9)”
Capex definition
Consolidated cash purchases of property and equipment and intangible assets; comparative periods use the presentation in the cited release. 1

Sources

  1. Nebius results release: Nebius CY2026 Q1 accessed 2026-11-11

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