$NBIS Says 2027 AI Compute Capacity Could Sell Out Immediately at Current Prices

Nebius says demand for AI compute remains strong enough that its entire 2027 capacity could potentially be sold immediately at current market prices.
$NBIS CRO says there is still “a lot of upside to pricing in the market today.”
Even more notable, customers are already trying to secure capacity extending into 2028.
That challenges the bearish thesis that AI infrastructure supply would begin catching up with demand by that point.
Instead of locking up all available capacity through long-term contracts, Nebius is reportedly holding some supply back for shorter-duration agreements.
The reason is pricing.
Shorter deals are reportedly being signed at around $50 million per MW annually, giving $NBIS an incentive to preserve exposure to potentially higher future market rates.
That strategy carries risk if GPU pricing eventually weakens, but it could create meaningful upside if AI compute remains structurally undersupplied.
Similar pricing strength is also being reported across $SPCX, $CRWV and $IREN.
The bigger signal is that customers are not just competing for current GPU capacity.
They are already trying to lock in infrastructure several years ahead, suggesting demand visibility may be stronger than many AI bears expected.