Let me remind you that this stock is still trading at 220$ $NBIS If we look at that estimate given by Marc Boroditsky at the Paris Raise Summit – meaning revenue will rise to tens of billions of dollars over the next 13 months (by August 2027), with the text mentioning "10s of B$ of revenue" and at least $20 billion ARR (Annual Run Rate) by the end of 2027 – we can map this directly onto your Excel model. Let's look at the 2027E column in the Excel sheet and find where the revenue matches Boroditsky's promises: What does the Excel model say about the share price with these numbers? 1. Base Case: In the Excel sheet, the Base scenario forecasts a revenue of $16.75 billion for 2027E. With this revenue, the projected share price (Price – Base) is $625.78. 2. Bull Case: If Boroditsky's promise of "tens of billions" means clearly exceeding the $20 billion mark during 2027 (as estimated in the Reddit post: "At least $20B ARR"), we move straight into the Bull model. The Excel Bull Case forecasts a revenue of up to $40.47 billion (ARR $64.00B) for 2027E. In this scenario, the projected share price (Price – Bull) skyrockets to an astronomical $1,092.85