Wow $NBIS relative outperformance is wild.
Back in 2025 I wrote my Neocloud thesis on $IREN to $CRWV. But I made the decision months later to consolidate it all into Nebius...
Despite the the hate from FinX back then.
Very interesting to see Nebius up 6% even during sector drop…
After Oracle was reportedly seeking payment protection if Project Jupiter misses its 2028 opening.
With Oracle:
"seeking to protect itself from potential cost increases related to a large DC project in New Mexico by sending a force majeure notice" per Reuters.
Lot of new people like to piggyback after it’s up a lot, but there was a lot less people bullish back in 2025.
Especially during the period with a ton of institutional short sellers back in December.
I still think markets might be underestimating sum of parts growth, even if its core business grows like crazy 2027+ onwards.
Nebius [ $NBIS ] at $86.69 is the purest Neocloud and AI-infra asymmetry left.
This is the highest revenue Neocloud untouched by $CIFR | $WULF and colo providers that has no:
- Plaguing uncertainty that $IREN, $ORCL face from full-stack execution.
- High interest debt that $CRWV, $APLD, and others face.
- Revenue uncertainty at scale with Hyperscaler contracts that $CLSK, $BITF, $WYFI, $SLNH, and others lack.
After the market-wide drop with the AI sector overrun by fear:
Nebius is going forward with: $8B midpoint ARR next year, $4.7B+ in cash, diversification in enterprise clients from ( $META, $MSFT, $ACN, $SHOP, Governments), hyper-growth portfolio companies, and a proven full-stack high-margin business.
With extreme demand, execution uncertainty (margins), and isolation from current issues plaguing the markets with OpenAI contract dependency and credit tightening:
Nothing even comes close to Nebius in terms of asymmetrical upside.
You are simply just waiting for company execution.