Nebius and Innodata show divergent growth rates in artificial intelligence sector

Two AI companies have reported very different financial results in 2026. Nebius, a cloud computing firm, grew its sales by 454% compared to last year, reaching $582 million in just one quarter. Investors have valued the company at around $47 billion. Analysts expect Nebius to bring in $3.3 billion in annual sales, and its shares trade at roughly 35 times its revenue. Innodata, which earns most of its money through data engineering services, is projected to grow revenue by 43% this year, reaching $360 million. Both companies sell services to businesses building AI systems. However, Nebius has grown much faster, and the market has rewarded it with a far higher valuation than Innodata.