Nebius Group (NBIS 3.15%) is an important player in the artificial intelligence (AI) ecosystem, supplying the much-needed computing capacity to companies looking to train and deploy AI models and applications in the cloud.
Nebius operates dedicated AI data centers equipped with graphics processing units (GPUs) and offers a suite of software solutions to help train, customize, deploy, and scale AI applications. Nebius' full-stack AI infrastructure platform is in high demand, with major hyperscalers awarding it lucrative long-term contracts, driving a significant spike in revenue.
This explains why the stock has jumped an impressive 120% in the past year. Importantly, Nebius stock still has significant upside, given the end market it serves. Let's look at the reasons why this company could help multiply your net worth significantly in the long run.
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Nebius is growing at a terrific pace
Data center power demand in the U.S. is estimated to grow from 25 gigawatts (GW) in 2024 to 106 GW in 2035, driven by AI-powered demand. Nebius gives investors an opportunity to capitalize on this lucrative market, especially given the shortage of data center capacity to train AI workloads. Nebius is doing its part to provide the computing power needed to run AI applications in the cloud by building more data centers.
NASDAQ: NBIS
Key Data Points
It was operating just two data center sites in 2024. That number jumped to seven last year, and the good part is that it expects to operate 16 data center sites by the end of 2026 in the U.S. and Europe. Nebius' active data center power capacity stood at 170 megawatts (MW) in 2025, well above its 100 MW target. However, the company has more than 3 GW of contracted data center capacity.
This contracted capacity refers to the power Nebius has secured from utility companies to set up new data centers with equipment such as GPUs and cooling solutions. It is worth noting that the contracted capacity is almost 20 times the active capacity Nebius was operating at the end of 2025. As Nebius converts this capacity into connected power capacity, its revenue growth will take off.
The company's 2025 revenue landed at $530 million, up almost 6x from the previous year. Analysts expect a significant surge in Nebius' revenue over the next three years, which isn't surprising given the points discussed above.
NBIS Revenue Estimates for Current Fiscal Year data by YCharts
Why the stock can become a multibagger
Depending on your net worth, increasing it by 10x could be a big lift. And buying Nebius and hoping it becomes a life-changing investment wouldn't be a smart strategy, as any cracks in its growth story could send the stock plunging. However, buying it as part of a diversified portfolio could indeed be a smart move, given the massive sums being spent on AI data centers.
We have already seen that Nebius' revenue is expected to jump 27x over the next three years (from last year's levels). If the company achieves $14.5 billion in revenue in 2028 (as seen in the chart above) and trades at even 8.4 times sales at that time (in line with the U.S. tech sector's average), its market cap could hit $122 billion, almost 5x its current market cap.
However, this AI stock could be rewarded with a higher multiple due to its outstanding growth, paving the way for potentially more upside.
