Alex Duvall

Alex Duvall from Goldman Sachs asked if it was fair to assume that 2.5 gigawatts of contracted power would equate to over $20 billion in revenue, and by when Nebius envisioned achieving this.

Answer

Andrey Korolenko, Head of Infrastructure, acknowledged that it's fair to assume the revenue potential, but clarified that CapEx for building out and deploying GPUs would be based on capital constraints and future demand. He emphasized the importance of being able to accelerate deployment when needed to avoid capacity constraints.

Alex Duvall from Goldman Sachs inquired if it's reasonable to assume that achieving 2.5 gigawatts of contracted power would translate to over $20 billion in revenue, and asked about the timeline and method for reaching this.

Answer

Andrey Korolenko, Head of Infrastructure, confirmed the revenue potential assumption is fair but clarified that actual CapEx for building out and deploying GPUs would be managed based on capital constraints and future demand. The strategy focuses on having the ability to accelerate deployment when needed and avoiding capacity bottlenecks.