capital · May 20, 2026
Nebius CEO Arkady Volozh Highlights Impact of Borrowing Costs on AI Infrastructure Margins
Share the canonical public link.
Nebius CEO Arkady Volozh stated in an Accel interview that a shift from 6% to 10% annual interest erases roughly 20% of margins over five-year contracts. Nebius reported Q1 2026 revenue of $399 million, up 280% year over year, with AI Cloud revenue of $390 million up 841% year over year. The company completed Q1 capex of $2.47 billion against $2.26 billion operating cash flow from $3.198 billion customer prepayments and raised $6.3 billion in financing including $4.3375 billion in convertible notes. Nebius plans over 4 GW contracted power by year-end 2026 plus 1.2 GW AI factories in Pennsylvania and Missouri.
Below validation threshold — auto-passed without scoring