NBIS - Nebius Group

Guest sees NBIS as a leveraged play on AI infrastructure with excellent management, strategic acquisitions (Egen, Clarify), and focus on open-source partnerships. He is 100% allocated and sells covered calls to enhance returns.

Explosive revenue growth (684% YoY), massive contracted backlog ($45-50B), backing from Nvidia, demand outstripping supply.

NeoCloud company renting GPU compute to AI firms; management investing aggressively in expansion; demand is high as customers need immediate access to GPUs without building their own infrastructure.

Nvidia holds 9.3% passive stake, stock up 14-17% on SEC filing. Host already knew about investment, but positive momentum.

Upgraded by Northland to $410 price target. Strong customer contracts, non-dilutive business model, and massive demand for compute. Beneficiary of AI infrastructure buildout.

Similar business model to CoreWeave but being rewarded by market; taking on debt to accelerate buildout with strong customer demand. Inference demand will drive need for compute.

Nebius raised $775M in debt to accelerate buildout, and the host sees this as a positive step similar to CoreWeave. He expects Nebius to benefit from rising GPU spot prices and strong customer demand (4+ customers per GPU). He bought more at $80 and considers it a core holding.

Revenue growth 600%, 4 customers per GPU, host adds to position at $178, calls it a gift

Sell-off sub-200 is a buying opportunity due to low debt, high prepayments, and a $1B deal with Reflection AI. Host bought the dip.

Host states he is 'definitely still bullish on Nebius' and hasn't sold a share, despite volatility from 300 to 200. He sees long-term value.