Alex DeVall's questions to Nebius Group NV (NBIS) leadership • Q2 2025
Question
Alex DeVall of Goldman Sachs asked about the overall demand environment, the timeline for infrastructure and capacity build-outs, and the demand trends for new Blackwell GPUs.
Answer
Chief Revenue Officer Marc Boroditsky confirmed a very strong demand environment, noting that all available capacity was sold through in Q2. He also highlighted stable pricing for Hopper GPUs even with a premium for the new Blackwells. Chief Product & Infrastructure Officer Andrey Korolenko detailed the capacity ramp-up, targeting 220 megawatts by year-end driven by expansions in New Jersey and Finland, and discussed the strategic preference for greenfield sites to lower Total Cost of Ownership (TCO).