Applied Digital vs Nebius Group
Nebius Group is larger by market cap ($49.1B vs $8.6B). Applied Digital reports higher tracked revenue ($611M vs $530M). Applied Digital's primary segment is Data Center Operators (Colo); Nebius Group's is GPU Clouds (Neoclouds).
Shared segment: AI & Data Center.
Side-by-side
| Applied Digital | Nebius Group | |
|---|---|---|
| Market cap | $8.6B | $49.1B |
| Revenue | $611M (FY2026) | $530M (FY2025) |
| Primary segment | Data Center Operators (Colo) | GPU Clouds (Neoclouds) |
| Market position | challenger | challenger |
| Country | United States | Netherlands |
| Tracked suppliers | 7 | 4 |
| Tracked customers | 5 | 1 |
| Chokepoint / criticality | 7/100 | 1/100 |
Market caps/revenue from the wafergraph dataset · data as of 2026-08-12. Criticality is a graph-derived chokepoint score (0–100). Coverage is partial; "Unpriced" means no reliable market cap.
How Applied Digital and Nebius Group compare
- Size: Nebius Group is the larger company by market cap.
- Revenue: Applied Digital reports higher tracked revenue.
- Supply-chain criticality: Applied Digital has the higher chokepoint score (7/100 vs 1/100).
- Footprint: Applied Digital (United States) vs Nebius Group (Netherlands).