Added to YB: 2026-08-19
Pitch date: 2026-08-16
NBIS [bullish]
Nebius Group N.V.
Author Info
Gus Wisanggeni is a financial analyst breaking down the AI buildout and tracing where the money actually flows. Sign up for the newsletter.
Company Info
Nebius Group N.V., a technology company, engages in building full-stack infrastructure to service the global AI industry in the United States, the United Kingdom, and internationally.
Market Cap
$76.1B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
175.09
P/E
1.7K
EV/Sales
57.76
Sector
Software
Category
growth
Nebius Q2: What Changed My Mind
NBIS: Q2 rev $582M (+46% QoQ), AI cloud ARR $3.0B (+598% YoY). Author's mind changed: bullish neoclouds 1-2yr on compute scarcity driving pricing (ACV/MW to $20-25M, old GPUs +30%), 70% deals prepaid, cheap ABS debt (SOFR+250 vs CoreWeave 9.1%). Preferred name. Risks: -$3.4B FCF, $8.55B debt, 5yr depreciation extension flatters margins, steep H2 ramp (rev must 2x), VC-funded customers, execution/permitting delays. Q3 key test.
Read full article (8 min)