Nvidia-linked shares rallied in Thursday trading.

Nebius up 22%; CoreWeave up 8%; Innoviz up 5%; WeRide up 3%; Arbe Robotics rose 1%.

NEBIUS, an artificial intelligence-focused hyperscaler based in Amsterdam, reported better-than-expected second quarter financial results on Thursday, prompting the stock to surge during early market action.

Its shares have already climbed 140% year to date.

The company's year-over-year revenue catapulted more than 600% to 105.1M, which was more than the consensus estimate of $101.2M.

"Nebius is continuing to deliver exceptional results," said Nebius founder and CEO Arkady Volozh. "In Q2 we more than doubled revenue from the previous quarter, and our core business achieved positive Adjusted EBITDA ahead of plan. Because of this strong momentum, we are increasing our annualized run-rate revenue outlook for the year to $900 million to $1.1 billion."

"Demand for AI infrastructure — compute, software and services — is only going to get stronger as use cases multiply," Volozh added. "We are aggressively scaling up capacity to capture this substantial opportunity and are in the process of securing more than 1 GW of power by the end of 2026."

Analysts were also positive on the results and outlook.

"Nebius hit a millstone, reporting over $1B in ARR, following a doubling of its revenue quarter over quarter," said Seeking Alpha analyst Jack Bowman. "This is the kind of growth necessary to justify its valuation, and is a great sign for shareholders that AI infrastructure demand isn't going anywhere anytime soon. Nebius relies on that demand to fund its hyper-expanding GPU cluster and data center business. Any future weakening of this demand could spell disaster for the stock, but this earnings report shows we are far off from there, and Nebius is still looking incredibly strong from a growth perspective."