BERLIN — Nebius is seeing AI computing prices rise more than expected, a top executive told CNBC on Wednesday, offering a bullish view as neocloud firms' business model comes under increasing scrutiny.
Investors have grown wary after CoreWeave, one of the biggest neocloud players, saw its cost of borrowing spike. The CoreWeave developments and questions around the amount of debt being used to fund the data center buildout have weighed heavily on other neoclouds like Iren and Nebius, whose stocks have dropped sharply over the last month.
Marc Boroditsky, chief revenue officer at Nebius, said his company wasn't in CoreWeave's position because "we're not carrying the kind of debt that they are."
He also said that if the AI infrastructure company brought its 2027 capacity online, it would sell out. There could be "the same type of dynamic" in 2028, supporting a positive longer-term demand outlook, he said, as companies race to secure access to computing power.
When asked whether he sees the price per megawatt continuing to rise ahead of expectations, Boroditsky replied: "Yeah."