Nebius Exec Says Compute Price Gains Exceed Expectations, 2027 Capacity Could Sell Out

Nebius Chief Revenue Officer Marc Boroditsky said the company is seeing compute price increases exceeding expectations, with demand strong enough that its 2027 capacity could sell out completely.

The remarks come as investors grow cautious about the "neocloud" business model after CoreWeave's five-year credit default swap spread widened to levels often associated with financial stress, raising concerns about debt-fueled data center expansion. Shares of IREN and Nebius have fallen sharply amid the broader selloff.

Boroditsky distanced Nebius from CoreWeave, saying his company does not carry debt on that scale. He added that an auction of compute resources on Oct. 20 showed prices per megawatt of computing power continue to rise. If Nebius brings its 2027 capacity online, it can sell it all, and demand could remain robust into 2028 as enterprises compete for compute.

Other industry executives echoed optimism. Crusoe CEO Chase Lochmiller said rental prices for older Nvidia GPUs, including A100 and H100, are above their initial deployment levels. SpaceX also reported AI business revenue of $7.56 billion, roughly ninefold higher year over year, with CFO Bret Johnsen noting current compute pricing is slightly above the $30–50 per watt range. Boroditsky said SpaceX's results confirm an active market where supply still trails demand.