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This is why Nebius will continue to skyrocket. CRO Marc Boroditsky said the company currently has four customers prepared to sign for every available GPU, which means Nebius is turning away roughly 75% of potential demand. Customers are also trying to reserve tens of thousands of GPUs for next...

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Melvin

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12,892 görüntüleme • 4 gün önce •via X (Twitter)

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Alex Ren profil fotoğrafı
Alex Ren4 gün önce

Source:

Monkey.D.Rom's profil fotoğrafı
Monkey.D.Rom's4 gün önce

Moi j’ai acheter Nebius trop chère je suis dans le rouge depuis que j’ai acheter au dessus de 260$

João Capital profil fotoğrafı
João Capital4 gün önce

O leilão de spot pricing é o mecanismo que converte esse excesso de demanda em margem expansiva antes da capacidade nova entrar.

Alek profil fotoğrafı
Alek4 gün önce

4 customers per GPU is the real bottleneck?

FitTrader3000 profil fotoğrafı
FitTrader30004 gün önce

@MilkRoadAI “We believe the path in front of us can produce $100 billion of revenue in the relatively near future." - Marc

Rytmfl0w profil fotoğrafı
Rytmfl0w4 gün önce

@_Investinq But prices per hour rental keep dropping.

Melvin profil fotoğrafı
Melvin4 gün önce

@_Investinq lol what

Kyle Reidhead | Milk Road profil fotoğrafı
Kyle Reidhead | Milk Road4 gün önce

So buy more Nebius, got it!

Melvin profil fotoğrafı
Melvin4 gün önce

DIng Ding DIng!

Chris Alderman profil fotoğrafı
Chris Alderman4 gün önce

@grok summarize

Milk Road AI profil fotoğrafı
Milk Road AI4 gün önce

Jesus Christ!

Melvin profil fotoğrafı
Melvin4 gün önce

lolol

Krzysztof Jaron profil fotoğrafı
Krzysztof Jaron4 gün önce

It kind of means, software moat is thin. Pretty bullish for other ai tickers.

Eric Everett profil fotoğrafı
Eric Everett4 gün önce

$NBIS signed away their capacity too quickly. Hipefully they learned their lesson.

Benzer Videolar

Mark my words, Nebius will be the first Trillion dollar Neo-cloud company and here is why (Save this). Roman Chernin, CEO of Nebius just said on 20VC that Nebius raised prices and demand didn't move. When a company can raise prices and still have more demand than supply, that's the opportunity. Chernin also explained why he is deliberately not charging the maximum. As AI shifts from training, a one time cost to inference, which is the ongoing cost of serving every user and every query, compute pricing becomes the cost structure of the entire AI economy. If Nebius prices customers out, those customers cannot grow, and Nebius cannot grow with them. That is the compounding flywheel built directly into the revenue model. The numbers are already confirming it. Q1 2026 revenue came in at $399 million, up 684% year over year. The AI cloud segment grew 840% and represented 98% of total revenue. Adjusted EBITDA flipped positive to $129.5 million. And Nebius signed a long-term agreement with Meta worth up to $27 billion over five years, a hyperscaler outsourcing its own AI compute stack to a neocloud, which tells you that even companies with $50 billion capex budgets cannot build fast enough. Goldman Sachs says the consensus is underestimating 2027 hyperscaler capex by $500 billion. Every dollar hyperscalers cannot provision themselves flows to neoclouds like Nebius. As that gap widens, Nebius captures the overflow with 3 gigawatts of contracted power already secured and a CEO who just told you raising prices did not dent demand. Our subscribers are already up massively on Nebius and come join Milk Road Pro for our full breakdown, how to size Nebius against the broader neocloud opportunity, and our full AI thesis. Link below!
0:47

Mark my words, Nebius will be the first Trillion dollar Neo-cloud company and here is why (Save this). Roman Chernin, CEO of Nebius just said on 20VC that Nebius raised prices and demand didn't move. When a company can raise prices and still have more demand than supply, that's the opportunity. Chernin also explained why he is deliberately not charging the maximum. As AI shifts from training, a one time cost to inference, which is the ongoing cost of serving every user and every query, compute pricing becomes the cost structure of the entire AI economy. If Nebius prices customers out, those customers cannot grow, and Nebius cannot grow with them. That is the compounding flywheel built directly into the revenue model. The numbers are already confirming it. Q1 2026 revenue came in at $399 million, up 684% year over year. The AI cloud segment grew 840% and represented 98% of total revenue. Adjusted EBITDA flipped positive to $129.5 million. And Nebius signed a long-term agreement with Meta worth up to $27 billion over five years, a hyperscaler outsourcing its own AI compute stack to a neocloud, which tells you that even companies with $50 billion capex budgets cannot build fast enough. Goldman Sachs says the consensus is underestimating 2027 hyperscaler capex by $500 billion. Every dollar hyperscalers cannot provision themselves flows to neoclouds like Nebius. As that gap widens, Nebius captures the overflow with 3 gigawatts of contracted power already secured and a CEO who just told you raising prices did not dent demand. Our subscribers are already up massively on Nebius and come join Milk Road Pro for our full breakdown, how to size Nebius against the broader neocloud opportunity, and our full AI thesis. Link below!

Milk Road AI

15,677 görüntüleme • 3 ay önce

$NBIS is becoming one of the biggest winners in the new AI economy because it can deliver compute efficiently at scale. The number that mattered most to me was Nebius seeing four or more customers competing for every GPU it brings online (huge for AI cloud market). Management also said they raised prices again and are still selling out across both old and new GPU generations which is one of the cleanest pricing power signals you can get. This is a $100B company in the making.
0:44

$NBIS is becoming one of the biggest winners in the new AI economy because it can deliver compute efficiently at scale. The number that mattered most to me was Nebius seeing four or more customers competing for every GPU it brings online (huge for AI cloud market). Management also said they raised prices again and are still selling out across both old and new GPU generations which is one of the cleanest pricing power signals you can get. This is a $100B company in the making.

Shay Boloor

589,512 görüntüleme • 4 ay önce

Greg Brockman, President of OpenAI, said there is not enough compute in the world to satisfy AI demand, and OpenAI itself cannot launch products it has already built because it cannot find the infrastructure to run them (Save this). OpenAI is spending $50 billion on compute in 2026 alone and it still is not enough. That is the setup but here is the trade. Nebius is one of the most asymmetric infrastructure plays in public markets right now, and most people have never heard of it. Q1 2026 revenue came in at $399 million, up 684% year over year, with AI cloud revenue specifically growing 841% in a single quarter. The company entered 2026 with an exit ARR of $1.25 billion and is targeting $7 to $9 billion by year end, a number that would make it one of the fastest revenue ramps in the history of public infrastructure companies. The contracted backlog sits at $50 billion anchored by a $17.4 billion agreement with Microsoft through 2031 and a $27 billion five-year deal with Meta. They are decade-scale infrastructure commitments from the two largest enterprise AI spenders on earth, signed before the demand curve has even reached its steepest point. Nvidia took a direct equity stake in Nebius, one of only two neoclouds it has invested in alongside CoreWeave. That relationship is not just financial but rather means Nebius gets preferential access to GPU allocation at a moment when every lab and every hyperscaler is competing for the same constrained supply. Contracted power capacity now exceeds 3.5 gigawatts, with expansion plans targeting 5 to 6 GW by mid-2029. And power is the other binding constraint in AI infrastructure, you cannot build a data center without it and Nebius has already secured the capacity that competitors are still fighting to acquire. At full ramp, analysts project revenue in the $15 to $25 billion range by 2029, against a current market cap the contracted backlog alone already dwarfs. Come join Milk Road Pro and get our full Nebius deep-dive, the exact price levels we are watching, how we are sizing the position against the backlog and power capacity timeline, and our full AI thesis. link below!
1:00

Greg Brockman, President of OpenAI, said there is not enough compute in the world to satisfy AI demand, and OpenAI itself cannot launch products it has already built because it cannot find the infrastructure to run them (Save this). OpenAI is spending $50 billion on compute in 2026 alone and it still is not enough. That is the setup but here is the trade. Nebius is one of the most asymmetric infrastructure plays in public markets right now, and most people have never heard of it. Q1 2026 revenue came in at $399 million, up 684% year over year, with AI cloud revenue specifically growing 841% in a single quarter. The company entered 2026 with an exit ARR of $1.25 billion and is targeting $7 to $9 billion by year end, a number that would make it one of the fastest revenue ramps in the history of public infrastructure companies. The contracted backlog sits at $50 billion anchored by a $17.4 billion agreement with Microsoft through 2031 and a $27 billion five-year deal with Meta. They are decade-scale infrastructure commitments from the two largest enterprise AI spenders on earth, signed before the demand curve has even reached its steepest point. Nvidia took a direct equity stake in Nebius, one of only two neoclouds it has invested in alongside CoreWeave. That relationship is not just financial but rather means Nebius gets preferential access to GPU allocation at a moment when every lab and every hyperscaler is competing for the same constrained supply. Contracted power capacity now exceeds 3.5 gigawatts, with expansion plans targeting 5 to 6 GW by mid-2029. And power is the other binding constraint in AI infrastructure, you cannot build a data center without it and Nebius has already secured the capacity that competitors are still fighting to acquire. At full ramp, analysts project revenue in the $15 to $25 billion range by 2029, against a current market cap the contracted backlog alone already dwarfs. Come join Milk Road Pro and get our full Nebius deep-dive, the exact price levels we are watching, how we are sizing the position against the backlog and power capacity timeline, and our full AI thesis. link below!

Milk Road AI

14,578 görüntüleme • 3 ay önce

Chamath Palihapitiya just dropped the number that explains the entire AI infrastructure trade (Save this). A gigawatt of compute now costs $100 billion and when he started his Arizona data center project it was $4 to $5 billion, it has gone up 20x in a single investment cycle. The implication is not just that AI infrastructure is expensive but rather that the capital barrier to owning meaningful compute has become so high that only a handful of entities in the world can actually build it and the companies who got there early are sitting on what may be the most durable pricing power in the history of the technology industry. This is the neocloud trade. The neocloud market, purpose-built GPU cloud providers like CoreWeave, Nebius, and Lambda Labs was worth $35 billion in 2026 and is projected to reach $236 billion by 2031, compounding at 46% annually. For context, that is faster growth than cloud computing itself posted in its first decade. The reason is very simple, hyperscalers like AWS, Azure, and Google are building for everything, storage, databases, enterprise software, networking and their GPU pricing reflects the overhead of that full-stack infrastructure. Neoclouds build for one thing only, AI compute. The result is a 60% to 85% cost advantage on the same Nvidia silicon, bare metal H100s at $0.78 to $2.79 per GPU-hour on a neocloud versus $3.43 to $5.07 per GPU-hour on a hyperscaler. That spread does not close as AI demand scales but rather it widens, because hyperscalers have to amortize legacy infrastructure and margin expectations that neoclouds do not carry. Gartner projects that by 2030, neoclouds will capture 20% of the $267 billion AI cloud market, and Vultr's own analysis says at least 80% of GPU market share by end of 2026 will be held by a small group of scaled neocloud providers. Now zoom into Nebius specifically, because it is the most interesting publicly traded proxy for this trade. Nebius is the infrastructure arm of the former Yandex Russia's equivalent of Google rebuilt from the ground up after Russia's invasion of Ukraine by Arkady Volozh and relisted on Nasdaq in October 2024. The team that built it already knew how to run internet-scale infrastructure at the lowest possible cost, which is exactly the operational DNA a neocloud requires. In Q1 2026, Nebius reported revenue of $399 million and already generating serious cash on a young business with revenue growing nearly eightfold year-over-year. Then in March 2026, Meta signed a five-year infrastructure agreement with Nebius worth up to $27 billion, $12 billion in committed dedicated GPU capacity deployments beginning early 2027, plus up to $15 billion more tied to Meta purchasing Nebius's unsold third-party capacity. The deal will be executed on one of the first large-scale deployments of Nvidia's Vera Rubin platform, the next-generation architecture after Blackwell making Nebius one of a tiny number of operators in the world with confirmed priority access to the most advanced AI hardware available. Following the contract, Nebius guided to $7 to $9 billion in annualized recurring revenue for 2026 representing 540% year-over-year growth. Chamath Palihapitiya point about the $100 billion capital moat is the bear case for new entrants and the bull case for incumbents. No one can afford to build the next CoreWeave or Nebius from scratch at current hardware and power costs. The companies that are already built, already contracted, and already deploying Nvidia's latest silicon have a moat that compounds with every GPU generation cycle because they get allocations first, they deploy fastest, and their customers re-sign rather than wait for a new operator that does not yet exist. Come join Milk Road Pro for our full breakdown, the complete neocloud competitive landscape, how to think about Nebius's valuation versus CoreWeave and AI entire thesis. Link below.
0:20

Chamath Palihapitiya just dropped the number that explains the entire AI infrastructure trade (Save this). A gigawatt of compute now costs $100 billion and when he started his Arizona data center project it was $4 to $5 billion, it has gone up 20x in a single investment cycle. The implication is not just that AI infrastructure is expensive but rather that the capital barrier to owning meaningful compute has become so high that only a handful of entities in the world can actually build it and the companies who got there early are sitting on what may be the most durable pricing power in the history of the technology industry. This is the neocloud trade. The neocloud market, purpose-built GPU cloud providers like CoreWeave, Nebius, and Lambda Labs was worth $35 billion in 2026 and is projected to reach $236 billion by 2031, compounding at 46% annually. For context, that is faster growth than cloud computing itself posted in its first decade. The reason is very simple, hyperscalers like AWS, Azure, and Google are building for everything, storage, databases, enterprise software, networking and their GPU pricing reflects the overhead of that full-stack infrastructure. Neoclouds build for one thing only, AI compute. The result is a 60% to 85% cost advantage on the same Nvidia silicon, bare metal H100s at $0.78 to $2.79 per GPU-hour on a neocloud versus $3.43 to $5.07 per GPU-hour on a hyperscaler. That spread does not close as AI demand scales but rather it widens, because hyperscalers have to amortize legacy infrastructure and margin expectations that neoclouds do not carry. Gartner projects that by 2030, neoclouds will capture 20% of the $267 billion AI cloud market, and Vultr's own analysis says at least 80% of GPU market share by end of 2026 will be held by a small group of scaled neocloud providers. Now zoom into Nebius specifically, because it is the most interesting publicly traded proxy for this trade. Nebius is the infrastructure arm of the former Yandex Russia's equivalent of Google rebuilt from the ground up after Russia's invasion of Ukraine by Arkady Volozh and relisted on Nasdaq in October 2024. The team that built it already knew how to run internet-scale infrastructure at the lowest possible cost, which is exactly the operational DNA a neocloud requires. In Q1 2026, Nebius reported revenue of $399 million and already generating serious cash on a young business with revenue growing nearly eightfold year-over-year. Then in March 2026, Meta signed a five-year infrastructure agreement with Nebius worth up to $27 billion, $12 billion in committed dedicated GPU capacity deployments beginning early 2027, plus up to $15 billion more tied to Meta purchasing Nebius's unsold third-party capacity. The deal will be executed on one of the first large-scale deployments of Nvidia's Vera Rubin platform, the next-generation architecture after Blackwell making Nebius one of a tiny number of operators in the world with confirmed priority access to the most advanced AI hardware available. Following the contract, Nebius guided to $7 to $9 billion in annualized recurring revenue for 2026 representing 540% year-over-year growth. Chamath Palihapitiya point about the $100 billion capital moat is the bear case for new entrants and the bull case for incumbents. No one can afford to build the next CoreWeave or Nebius from scratch at current hardware and power costs. The companies that are already built, already contracted, and already deploying Nvidia's latest silicon have a moat that compounds with every GPU generation cycle because they get allocations first, they deploy fastest, and their customers re-sign rather than wait for a new operator that does not yet exist. Come join Milk Road Pro for our full breakdown, the complete neocloud competitive landscape, how to think about Nebius's valuation versus CoreWeave and AI entire thesis. Link below.

Milk Road AI

139,047 görüntüleme • 3 ay önce

$NBIS may be the biggest beneficiary of $GOOGL capacity shortage because the company still needs third party compute even after doubling quarterly capex. That shortage is exactly what Nebius is built to solve by offering immediately available full stack AI infrastructure to customers that cannot wait years for new data centers. The demand is already visible with management saying at least four customers are competing for every GPU it brings online while deals with $MSFT an $META validate the platform.
0:57

$NBIS may be the biggest beneficiary of $GOOGL capacity shortage because the company still needs third party compute even after doubling quarterly capex. That shortage is exactly what Nebius is built to solve by offering immediately available full stack AI infrastructure to customers that cannot wait years for new data centers. The demand is already visible with management saying at least four customers are competing for every GPU it brings online while deals with $MSFT an $META validate the platform.

Shay Boloor

166,820 görüntüleme • 2 ay önce

Nebius is one of the most undervalued AI infrastructure companies in the public markets right now (Save this). Leopold Aschenbrenner, the former OpenAI researcher who wrote the 165-page essay predicting AGI within this decade and then launched the $13.7 billion Situational Awareness Fund around that thesis just filed a 13G disclosing a 5.6% stake in Nebius, representing 12.41 million Class A shares. This is the man whose entire investment framework is built on one core conviction, AI will advance faster than anyone expects, and the binding constraint will not be algorithms or model architectures, it will be physical computing infrastructure, data center capacity, and energy. Now look at what Nebius actually is and why this conviction is justified by the numbers alone. Nebius is a GPU native AI cloud platform, a neocloud built from the ground up specifically for AI training and inference workloads, founded by Arkady Volozh, the former CEO of Yandex who divested all non-Russian assets and left Russia in direct opposition to Putin before relisting the company on Nasdaq. In Q1 2026, Nebius reported $399 million in revenue, a 684% increase year over year from just $50.9 million while also delivering EBITDA and adjusted EPS that beat consensus estimates by 43% and 50% respectively, in a quarter where analysts had already built in aggressive assumptions. The scale of the infrastructure buildout is what makes the valuation argument so compelling. Nebius has raised its contracted power capacity guidance to over 4 gigawatts for 2026, with a target of 5 gigawatts of AI computing capacity deployed by 2030, including multiple gigawatt-scale AI factories across the United States and Europe. The Finland campus coming soon to Lappeenranta will be 310 megawatts powered by low-carbon energy, making it one of the largest AI data centers in Europe, specifically located in a cold-climate, energy-stable region that dramatically reduces cooling costs and carbon intensity. The 2026 capacity is already effectively sold out according to management disclosures, which means every megawatt Nebius brings online has a revenue contract attached to it before the facility opens. The strategic backing validates the thesis at every level. NVIDIA committed a $2 billion strategic investment in Nebius by 2030, with the two companies co-developing an inference stack, implementing NVIDIA's GPU health monitoring systems, and deploying next-generation architectures including Rubin GPUs, Vera CPUs, and Bluefield storage systems meaning Nebius gets preferential access to the hardware that every other AI company is begging Jensen Huang for. Meta signed a $27 billion agreement with Nebius, with $12 billion in dedicated computing resources confirmed and up to $15 billion in additional capacity over the coming years. And Nebius just partnered with Bloom Energy on a $2.6 billion deal guaranteeing 328 megawatts of installed capacity through modular fuel cell systems behind the meter power that eliminates grid dependency and accelerates deployment timelines. The forward valuation math is where the undervaluation case becomes undeniable. Nebius is pricing in $3.5 billion in revenue for 2026 and $11 billion for 2027, which puts the forward price-to-sales ratio at 16.6 times for this year and just 5.3 times for next year for a company growing revenue at 684% year over year with sold out capacity, NVIDIA backing, a $27 billion Meta contract, and a path to 4+ gigawatts of contracted power. Milk Road has been positioned in Nebius and we believe the convergence of Leopold's conviction stake, NVIDIA's $2 billion endorsement, Meta's $27 billion commitment, and a physical infrastructure buildout that is sold out before it opens represents one of the highest-quality risk-reward setups in AI infrastructure today. Come join Milk Road Pro and get our full Nebius thesis including the exact framework we use to think about neocloud valuation, the power capacity math that determines when revenue accelerates, and every catalyst we are watching through 2027. Link in bio/below.
0:20

Nebius is one of the most undervalued AI infrastructure companies in the public markets right now (Save this). Leopold Aschenbrenner, the former OpenAI researcher who wrote the 165-page essay predicting AGI within this decade and then launched the $13.7 billion Situational Awareness Fund around that thesis just filed a 13G disclosing a 5.6% stake in Nebius, representing 12.41 million Class A shares. This is the man whose entire investment framework is built on one core conviction, AI will advance faster than anyone expects, and the binding constraint will not be algorithms or model architectures, it will be physical computing infrastructure, data center capacity, and energy. Now look at what Nebius actually is and why this conviction is justified by the numbers alone. Nebius is a GPU native AI cloud platform, a neocloud built from the ground up specifically for AI training and inference workloads, founded by Arkady Volozh, the former CEO of Yandex who divested all non-Russian assets and left Russia in direct opposition to Putin before relisting the company on Nasdaq. In Q1 2026, Nebius reported $399 million in revenue, a 684% increase year over year from just $50.9 million while also delivering EBITDA and adjusted EPS that beat consensus estimates by 43% and 50% respectively, in a quarter where analysts had already built in aggressive assumptions. The scale of the infrastructure buildout is what makes the valuation argument so compelling. Nebius has raised its contracted power capacity guidance to over 4 gigawatts for 2026, with a target of 5 gigawatts of AI computing capacity deployed by 2030, including multiple gigawatt-scale AI factories across the United States and Europe. The Finland campus coming soon to Lappeenranta will be 310 megawatts powered by low-carbon energy, making it one of the largest AI data centers in Europe, specifically located in a cold-climate, energy-stable region that dramatically reduces cooling costs and carbon intensity. The 2026 capacity is already effectively sold out according to management disclosures, which means every megawatt Nebius brings online has a revenue contract attached to it before the facility opens. The strategic backing validates the thesis at every level. NVIDIA committed a $2 billion strategic investment in Nebius by 2030, with the two companies co-developing an inference stack, implementing NVIDIA's GPU health monitoring systems, and deploying next-generation architectures including Rubin GPUs, Vera CPUs, and Bluefield storage systems meaning Nebius gets preferential access to the hardware that every other AI company is begging Jensen Huang for. Meta signed a $27 billion agreement with Nebius, with $12 billion in dedicated computing resources confirmed and up to $15 billion in additional capacity over the coming years. And Nebius just partnered with Bloom Energy on a $2.6 billion deal guaranteeing 328 megawatts of installed capacity through modular fuel cell systems behind the meter power that eliminates grid dependency and accelerates deployment timelines. The forward valuation math is where the undervaluation case becomes undeniable. Nebius is pricing in $3.5 billion in revenue for 2026 and $11 billion for 2027, which puts the forward price-to-sales ratio at 16.6 times for this year and just 5.3 times for next year for a company growing revenue at 684% year over year with sold out capacity, NVIDIA backing, a $27 billion Meta contract, and a path to 4+ gigawatts of contracted power. Milk Road has been positioned in Nebius and we believe the convergence of Leopold's conviction stake, NVIDIA's $2 billion endorsement, Meta's $27 billion commitment, and a physical infrastructure buildout that is sold out before it opens represents one of the highest-quality risk-reward setups in AI infrastructure today. Come join Milk Road Pro and get our full Nebius thesis including the exact framework we use to think about neocloud valuation, the power capacity math that determines when revenue accelerates, and every catalyst we are watching through 2027. Link in bio/below.

Milk Road AI

61,932 görüntüleme • 4 ay önce

$NBIS has a really interesting setup into Wednesday because the demand is already there with $MSFT and $META contracts, Reflection AI’s $1B deal and GPU demand running several times above available capacity so the real question is how quickly Nebius can turn power and data centers into revenue. That’s also why I’m getting more comfortable with the execution risk as Nebius targets 4GW+ of contracted power, proves it can raise non-dilutive capital with $775M of secured financing and introduces an asset-light model that lets partners fund infrastructure while Nebius keeps the architecture, software and customer economics. So heading into earnings, I care much more about whether the Microsoft ramp stays on track, whether the second-half capacity bridge still looks believable and whether Nebius can keep repeating that financing model than I do about a small Q2 beat or miss.
1:18

$NBIS has a really interesting setup into Wednesday because the demand is already there with $MSFT and $META contracts, Reflection AI’s $1B deal and GPU demand running several times above available capacity so the real question is how quickly Nebius can turn power and data centers into revenue. That’s also why I’m getting more comfortable with the execution risk as Nebius targets 4GW+ of contracted power, proves it can raise non-dilutive capital with $775M of secured financing and introduces an asset-light model that lets partners fund infrastructure while Nebius keeps the architecture, software and customer economics. So heading into earnings, I care much more about whether the Microsoft ramp stays on track, whether the second-half capacity bridge still looks believable and whether Nebius can keep repeating that financing model than I do about a small Q2 beat or miss.

Shay Boloor

98,400 görüntüleme • 1 ay önce

Jensen Huang just told you exactly which AI bottleneck never goes away and it points directly to one of the best trades in the market right now. He did not say chip bottlenecks are permanent. He said the opposite, more chip capacity is a two to three year problem, more CoWoS packaging capacity is a two to three year problem, and none of the manufacturing constraints currently limiting Nvidia's ability to ship are structural barriers that cannot be solved. What he said is permanent or at least, far harder to solve is energy. You cannot build AI factories, reindustrialize the United States or build robots and next-generation compute without energy and energy does not respond to large purchase orders the way foundry capacity does. It involves regulatory timelines, grid interconnection queues, permitting cycles, and national policy decisions that no single company can accelerate regardless of how much capital they deploy. The US is staring down a 19 gigawatt power gap by 2028, and PJM launched an emergency integration plan earlier this year just to handle current data center load, not future load, current load. Nearly half of the data centers planned for 2026 are already delayed or canceled not because of chip shortages but because of transformer shortages, switchgear backlogs and grid capacity constraints that have nothing to do with silicon. This is the exact environment that makes Nebius a structurally differentiated position. While every other AI cloud buildout is fighting the same power bottleneck Jensen described, Nebius has already secured over 2 gigawatts of contracted power capacity with a 1.2 gigawatt campus in Missouri, another 310 megawatts in Finland and a Pennsylvania site adding another 1.2 gigawatts to the pipeline. Power is the constraint Jensen says no one can shortcut and Nebius has already locked in more of it than almost any independent AI cloud operator on the planet. That power moat sits underneath a $27 billion contracted revenue deal with Meta, a Microsoft partnership ramping to full run rate in 2027, and a 684% year over year revenue growth number that just printed in Q1. The Nebius thesis was always about infrastructure scarcity in a world of accelerating demand, Jensen just confirmed on camera which scarcity actually matters long-term, and it is exactly the one Nebius spent the last two years solving before anyone else was paying attention. Milk Road Pro called Nebius early, has been sitting on a massive gain on the position, and continues to track the infrastructure plays that matter before they become obvious to the rest of the market, come join us at the link in bio/below!
0:32

Jensen Huang just told you exactly which AI bottleneck never goes away and it points directly to one of the best trades in the market right now. He did not say chip bottlenecks are permanent. He said the opposite, more chip capacity is a two to three year problem, more CoWoS packaging capacity is a two to three year problem, and none of the manufacturing constraints currently limiting Nvidia's ability to ship are structural barriers that cannot be solved. What he said is permanent or at least, far harder to solve is energy. You cannot build AI factories, reindustrialize the United States or build robots and next-generation compute without energy and energy does not respond to large purchase orders the way foundry capacity does. It involves regulatory timelines, grid interconnection queues, permitting cycles, and national policy decisions that no single company can accelerate regardless of how much capital they deploy. The US is staring down a 19 gigawatt power gap by 2028, and PJM launched an emergency integration plan earlier this year just to handle current data center load, not future load, current load. Nearly half of the data centers planned for 2026 are already delayed or canceled not because of chip shortages but because of transformer shortages, switchgear backlogs and grid capacity constraints that have nothing to do with silicon. This is the exact environment that makes Nebius a structurally differentiated position. While every other AI cloud buildout is fighting the same power bottleneck Jensen described, Nebius has already secured over 2 gigawatts of contracted power capacity with a 1.2 gigawatt campus in Missouri, another 310 megawatts in Finland and a Pennsylvania site adding another 1.2 gigawatts to the pipeline. Power is the constraint Jensen says no one can shortcut and Nebius has already locked in more of it than almost any independent AI cloud operator on the planet. That power moat sits underneath a $27 billion contracted revenue deal with Meta, a Microsoft partnership ramping to full run rate in 2027, and a 684% year over year revenue growth number that just printed in Q1. The Nebius thesis was always about infrastructure scarcity in a world of accelerating demand, Jensen just confirmed on camera which scarcity actually matters long-term, and it is exactly the one Nebius spent the last two years solving before anyone else was paying attention. Milk Road Pro called Nebius early, has been sitting on a massive gain on the position, and continues to track the infrastructure plays that matter before they become obvious to the rest of the market, come join us at the link in bio/below!

Milk Road AI

21,316 görüntüleme • 4 ay önce

The majority of neoclouds will eventually go out of business but here is the winning formula if you want to win. (Save this). The core problem for the industry is that the economics of running GPU infrastructure only work at massive scale, with cheap financing and investment grade customers backing long term contracts. A lot of the names crowding the middle column of that chart are Bitcoin miners who converted their rigs into GPU racks chasing the AI trend, rather than companies built from the ground up for this business, which is exactly the kind of opportunistic entrant that gets wiped out when capital tightens or utilization dips. Nebius sits in the Neocloud Giants tier alongside CoreWeave, Lambda and Crusoe, and today's Q2 2026 print showed exactly why it's pulling away from the pack rather than getting lumped in with the 78 emerging players facing consolidation risk. Revenue hit $582 million, up 454% year over year, with annualized recurring revenue reaching $3.0 billion by the end of June, up 58% quarter over quarter. The company won four separate customer agreements each worth over $1 billion in total contract value and total contract value won during the quarter jumped 4x versus the prior period, a growth rate most of the smaller neoclouds on that chart simply can't match without hyperscaler grade balance sheets. Here's the vertical stack that sets Nebius apart from most names on that chart. Unlike pure GPU rental shops that lease space in someone else's data center, Nebius designs its own data centers, builds its own server racks and motherboards, procures its own compute, and runs a proprietary AI specific cloud platform layer on top of all of it. That full stack control, from silicon to software, is precisely what most of the emerging neoclouds in the chart's middle column lack, since converting a Bitcoin mining facility gives you power and cooling, but not in house rack engineering or a purpose built cloud software layer. Nebius has also been shifting from leased to owned infrastructure, with more than 75% of its contracted power now sitting at facilities it directly controls, up sharply from a mostly leased model just a year ago. That ownership shift is the difference between capturing margin over the long run versus being at the mercy of a landlord's lease terms, which is a structural advantage over neoclouds still renting third party space. Now for the pricing power piece. Nebius disclosed today that it's now charging $40-50 million per megawatt on new capacity deals, already signing its first one at that price this week, up from roughly $12 million per megawatt on its 2026 base contracts. Management also said it could sell its entire 2027 capacity right now on these terms but is deliberately holding some back for near term customer needs, a level of pricing leverage that tells you demand is outstripping supply for anyone offering real scale and reliability, exactly the customer profile the smaller, undercapitalized neoclouds struggle to attract. Nebius isn't a single product company either, which matters given how many names on that chart have no other legs to stand on if GPU rental margins compress. The company owns Avride, an autonomous driving and delivery robotics business with partnerships with Uber and Hyundai, TripleTen, a tech re skilling edtech platform and holds equity stakes in ClickHouse, the database company it spun out and recently backed in a funding round, and in Toloka, an AI data-labeling platform that sold a majority stake to Bezos Expeditions and Shopify in 2025. Those side businesses give Nebius optionality and diversified cash flow that a converted mining rig operator simply doesn't have. Bullish on Nebius, make sure to follow Melvin for more AI infrastructure insights, and if you want to see exactly what I'm buying as an analyst at Milk Road Pro, you can check out the link below for more.
4:32

The majority of neoclouds will eventually go out of business but here is the winning formula if you want to win. (Save this). The core problem for the industry is that the economics of running GPU infrastructure only work at massive scale, with cheap financing and investment grade customers backing long term contracts. A lot of the names crowding the middle column of that chart are Bitcoin miners who converted their rigs into GPU racks chasing the AI trend, rather than companies built from the ground up for this business, which is exactly the kind of opportunistic entrant that gets wiped out when capital tightens or utilization dips. Nebius sits in the Neocloud Giants tier alongside CoreWeave, Lambda and Crusoe, and today's Q2 2026 print showed exactly why it's pulling away from the pack rather than getting lumped in with the 78 emerging players facing consolidation risk. Revenue hit $582 million, up 454% year over year, with annualized recurring revenue reaching $3.0 billion by the end of June, up 58% quarter over quarter. The company won four separate customer agreements each worth over $1 billion in total contract value and total contract value won during the quarter jumped 4x versus the prior period, a growth rate most of the smaller neoclouds on that chart simply can't match without hyperscaler grade balance sheets. Here's the vertical stack that sets Nebius apart from most names on that chart. Unlike pure GPU rental shops that lease space in someone else's data center, Nebius designs its own data centers, builds its own server racks and motherboards, procures its own compute, and runs a proprietary AI specific cloud platform layer on top of all of it. That full stack control, from silicon to software, is precisely what most of the emerging neoclouds in the chart's middle column lack, since converting a Bitcoin mining facility gives you power and cooling, but not in house rack engineering or a purpose built cloud software layer. Nebius has also been shifting from leased to owned infrastructure, with more than 75% of its contracted power now sitting at facilities it directly controls, up sharply from a mostly leased model just a year ago. That ownership shift is the difference between capturing margin over the long run versus being at the mercy of a landlord's lease terms, which is a structural advantage over neoclouds still renting third party space. Now for the pricing power piece. Nebius disclosed today that it's now charging $40-50 million per megawatt on new capacity deals, already signing its first one at that price this week, up from roughly $12 million per megawatt on its 2026 base contracts. Management also said it could sell its entire 2027 capacity right now on these terms but is deliberately holding some back for near term customer needs, a level of pricing leverage that tells you demand is outstripping supply for anyone offering real scale and reliability, exactly the customer profile the smaller, undercapitalized neoclouds struggle to attract. Nebius isn't a single product company either, which matters given how many names on that chart have no other legs to stand on if GPU rental margins compress. The company owns Avride, an autonomous driving and delivery robotics business with partnerships with Uber and Hyundai, TripleTen, a tech re skilling edtech platform and holds equity stakes in ClickHouse, the database company it spun out and recently backed in a funding round, and in Toloka, an AI data-labeling platform that sold a majority stake to Bezos Expeditions and Shopify in 2025. Those side businesses give Nebius optionality and diversified cash flow that a converted mining rig operator simply doesn't have. Bullish on Nebius, make sure to follow Melvin for more AI infrastructure insights, and if you want to see exactly what I'm buying as an analyst at Milk Road Pro, you can check out the link below for more.

Melvin

37,428 görüntüleme • 1 ay önce

This is why Nebius will be a trillion dollar hyperscaler (Save this). Nebius is not building another GPU rental shop but rather building a vertically integrated hyperscaler that owns everything from the physical data center, to the server rack hardware it designs in house, to the software stack, to the inference delivery layer. Nearly every other neocloud is essentially a reseller of someone else's infrastructure but Nebius owns the full stack end to end and that distinction is the entire thesis. Here is why vertical integration is the winning architecture for the inference era. AWS and Azure were architected for general purpose computing and every AI workload they run sits on top of infrastructure that was never designed for it, patched, adapted and optimized after the fact. Nebius was built from day one specifically for AI which means every layer of the stack is purpose built and co optimized. The rack design, the networking topology, the cooling systems and the software that orchestrates it all are engineered together as a single system rather than assembled from parts that were never meant to work together. That architectural difference compounds with every passing quarter as AI workloads grow more complex and the performance gap between purpose built and general purpose infrastructure widens. The software layer is where the real competitive moat lives. Most infrastructure companies think of software as a wrapper around hardware while Nebius thinks of software as the product with hardware as the substrate it controls. The company is building an AI native cloud platform where the software layer handles model serving, inference optimization, fine tuning pipelines and developer tooling as first-class primitives. This matters because inference efficiency is almost entirely a software problem. Two companies running identical GPUs can deliver dramatically different performance and cost per token depending on how intelligently the software schedules, batches and routes inference requests across the cluster. Nebius is also building for a fundamental shift in how AI infrastructure gets consumed. Today, enterprise developers navigate massive cloud service catalogs spinning up clusters, managing configurations and building deep expertise in AWS or GCP-specific tooling. The next generation of builders will simply provision agents to interface with infrastructure directly. Nebius is architecting its software layer for that future , one where the interface between the developer and the compute abstraction layer looks nothing like what AWS built in 2006. The entire available capacity has been sold out every quarter. And that is the best possible validation that what Nebius is building is exactly what the market needs and that the market is willing to commit at a scale that makes the current valuation look like the beginning of a much longer story. Long Nebius and make sure to follow me Melvin for more overlooked AI stocks.
4:44

This is why Nebius will be a trillion dollar hyperscaler (Save this). Nebius is not building another GPU rental shop but rather building a vertically integrated hyperscaler that owns everything from the physical data center, to the server rack hardware it designs in house, to the software stack, to the inference delivery layer. Nearly every other neocloud is essentially a reseller of someone else's infrastructure but Nebius owns the full stack end to end and that distinction is the entire thesis. Here is why vertical integration is the winning architecture for the inference era. AWS and Azure were architected for general purpose computing and every AI workload they run sits on top of infrastructure that was never designed for it, patched, adapted and optimized after the fact. Nebius was built from day one specifically for AI which means every layer of the stack is purpose built and co optimized. The rack design, the networking topology, the cooling systems and the software that orchestrates it all are engineered together as a single system rather than assembled from parts that were never meant to work together. That architectural difference compounds with every passing quarter as AI workloads grow more complex and the performance gap between purpose built and general purpose infrastructure widens. The software layer is where the real competitive moat lives. Most infrastructure companies think of software as a wrapper around hardware while Nebius thinks of software as the product with hardware as the substrate it controls. The company is building an AI native cloud platform where the software layer handles model serving, inference optimization, fine tuning pipelines and developer tooling as first-class primitives. This matters because inference efficiency is almost entirely a software problem. Two companies running identical GPUs can deliver dramatically different performance and cost per token depending on how intelligently the software schedules, batches and routes inference requests across the cluster. Nebius is also building for a fundamental shift in how AI infrastructure gets consumed. Today, enterprise developers navigate massive cloud service catalogs spinning up clusters, managing configurations and building deep expertise in AWS or GCP-specific tooling. The next generation of builders will simply provision agents to interface with infrastructure directly. Nebius is architecting its software layer for that future , one where the interface between the developer and the compute abstraction layer looks nothing like what AWS built in 2006. The entire available capacity has been sold out every quarter. And that is the best possible validation that what Nebius is building is exactly what the market needs and that the market is willing to commit at a scale that makes the current valuation look like the beginning of a much longer story. Long Nebius and make sure to follow me Melvin for more overlooked AI stocks.

Melvin

34,306 görüntüleme • 2 ay önce

Nebius is going to be a Trillion-dollar company! Twelve months ago, Nebius was trading near $18 per share with roughly $55 million in quarterly revenue. Today the stock trades above $225, quarterly revenue just came in at $399 million, up 684% year over year and the company has a contracted revenue backlog that would make most Fortune 500 companies envious. But the current market cap, sitting around $56 billion, prices in almost none of what is actually coming. The first reason Nebius reaches a trillion is the Meta deal alone. In March, Nebius signed a five year agreement with Meta worth up to $27 billion, one of the largest infrastructure contracts Meta has ever signed with any company under which Nebius will provide $12 billion in dedicated AI capacity across multiple locations, with Meta also having committed to purchase up to an additional $15 billion in third-party capacity over the same period. That contract barely starts until 2027, which means the revenue impact is not yet reflected in any trailing metric. The second reason is Microsoft, which is currently receiving its first deployment phases from Nebius and is expected to contribute at full annual run rate starting in 2027. Between Meta and Microsoft alone, Nebius has signed agreements worth more than $46 billion in total contracted value before a single additional customer is counted. The third reason is the ARR trajectory, which is the fastest revenue ramp of any infrastructure company in the public markets. Nebius ended 2025 at $1.25 billion in ARR and is guiding to $7–9 billion ARR by year-end 2026. Wall Street analysts project revenue growing 523% in 2026 and another 206% in 2027. One of the company's own institutional shareholders has already suggested the year-end ARR could come in more than twice the guided range if the Meta and Microsoft ramps hit their timelines. The fourth reason is Nvidia's direct involvement. Nvidia made a $2 billion strategic equity investment in Nebius and has given Nebius early access to the Vera Rubin platform, its next generation GPU architecture as part of the delivery commitments to Meta. The fifth reason is the capacity buildout, which is being funded by the revenue itself. Nebius invested $2.5 billion in capex in Q1 alone, CEO Arkady Volozh has guided for $16–20 billion in total investment for 2026, and contracted capacity is now on track to exceed 4 GW by year end with new owned sites in Pennsylvania at 1.2 GW and Finland at 310 MW now under development. The more capacity they build, the more they can sell and demand continues to outpace supply at every stage of the buildout. When you run the math on a business with $7–9 billion in ARR exiting 2026, a $27 billion Meta contract that begins in earnest in 2027, a Microsoft relationship at full run rate, 206% analyst projected growth in 2027, and a structural relationship with Nvidia that gives it hardware access no competitor can match, a trillion-dollar valuation within three to four years is not a moonshot. It is the base case if the compounding holds, and every data point so far suggests it is. Milk Road Pro called this one early. Our analysts added Nebius to the portfolio when it was still flying under the radar, and we are sitting on a massive gain on that position right now. If you want to see what else we are building conviction on before the rest of the market catches up, come join us at Milk Road Pro at the link in bio/below!
1:04

Nebius is going to be a Trillion-dollar company! Twelve months ago, Nebius was trading near $18 per share with roughly $55 million in quarterly revenue. Today the stock trades above $225, quarterly revenue just came in at $399 million, up 684% year over year and the company has a contracted revenue backlog that would make most Fortune 500 companies envious. But the current market cap, sitting around $56 billion, prices in almost none of what is actually coming. The first reason Nebius reaches a trillion is the Meta deal alone. In March, Nebius signed a five year agreement with Meta worth up to $27 billion, one of the largest infrastructure contracts Meta has ever signed with any company under which Nebius will provide $12 billion in dedicated AI capacity across multiple locations, with Meta also having committed to purchase up to an additional $15 billion in third-party capacity over the same period. That contract barely starts until 2027, which means the revenue impact is not yet reflected in any trailing metric. The second reason is Microsoft, which is currently receiving its first deployment phases from Nebius and is expected to contribute at full annual run rate starting in 2027. Between Meta and Microsoft alone, Nebius has signed agreements worth more than $46 billion in total contracted value before a single additional customer is counted. The third reason is the ARR trajectory, which is the fastest revenue ramp of any infrastructure company in the public markets. Nebius ended 2025 at $1.25 billion in ARR and is guiding to $7–9 billion ARR by year-end 2026. Wall Street analysts project revenue growing 523% in 2026 and another 206% in 2027. One of the company's own institutional shareholders has already suggested the year-end ARR could come in more than twice the guided range if the Meta and Microsoft ramps hit their timelines. The fourth reason is Nvidia's direct involvement. Nvidia made a $2 billion strategic equity investment in Nebius and has given Nebius early access to the Vera Rubin platform, its next generation GPU architecture as part of the delivery commitments to Meta. The fifth reason is the capacity buildout, which is being funded by the revenue itself. Nebius invested $2.5 billion in capex in Q1 alone, CEO Arkady Volozh has guided for $16–20 billion in total investment for 2026, and contracted capacity is now on track to exceed 4 GW by year end with new owned sites in Pennsylvania at 1.2 GW and Finland at 310 MW now under development. The more capacity they build, the more they can sell and demand continues to outpace supply at every stage of the buildout. When you run the math on a business with $7–9 billion in ARR exiting 2026, a $27 billion Meta contract that begins in earnest in 2027, a Microsoft relationship at full run rate, 206% analyst projected growth in 2027, and a structural relationship with Nvidia that gives it hardware access no competitor can match, a trillion-dollar valuation within three to four years is not a moonshot. It is the base case if the compounding holds, and every data point so far suggests it is. Milk Road Pro called this one early. Our analysts added Nebius to the portfolio when it was still flying under the radar, and we are sitting on a massive gain on that position right now. If you want to see what else we are building conviction on before the rest of the market catches up, come join us at Milk Road Pro at the link in bio/below!

Milk Road AI

48,673 görüntüleme • 4 ay önce

Nebius will be the first trillion dollar neocloud hyperscaler. Most neoclouds are stuck in a single business model, renting bare GPU capacity to whoever will pay for it. Nebius is deliberately building across four layers instead, bare metal, managed infrastructure, inference, and eventually agentic tooling and each layer up the stack dramatically expands who can actually buy from them. Bare metal has maybe a dozen viable customers worldwide, since only the biggest players can even use raw infrastructure at that scale. Managed infrastructure opens that up to hundreds of buyers, while inference reaches thousands of potential customers. Agentic services are still early, but they could eventually serve tens of thousands of developers building on top of the platform. That's the real engine behind a trillion dollar outcome, since a single layer rental business caps out far lower than a company selling into an expanding pyramid of customers at every altitude. There's also a strategic decision buried in how Nebius handles its biggest clients. Serving giants like Meta and Microsoft is a double edged sword, since those companies bring their own full software stack and only need physical infrastructure underneath it, which leaves very thin margin for Nebius to capture on top. Roman was explicit that the company's long term strategy is to avoid over relying on any single hyperscaler and instead build a diversified customer portfolio spanning every layer of the stack, so no single client can dictate terms or growth. He also pushed back on the idea that this business is commodity, arguing that keeping up with what a Meta or Microsoft actually demands from infrastructure at true hyperscale is genuinely difficult, which is exactly why most emerging neoclouds can't even compete for that tier of client. The numbers from this week back up the strategy because revenue came in at 582 million dollars, up 454% year over year, while annualized recurring revenue hit 3.0 billion dollars, up 58% quarter over quarter. Four separate customer contracts signed during the quarter were each worth more than 1 billion dollars in total contract value. Pricing power tells the same story from a different angle. Nebius's newest capacity auction cleared 15% above any price it had ever charged before, and short notice hardware is now going for 40 to 50 million dollars per megawatt, roughly four to five times the 9.8 million dollar per megawatt baseline from earlier deals. That kind of pricing trajectory, paired with a push into higher margin inference and agentic layers, builds a revenue mix that scales well past what a pure infrastructure landlord could ever reach. There are a few other pieces that make Nebius structurally different from the rest of the pack because it owns its full vertical stack, from data center design to server racks to the software layer running on top of all of it. It also has early access to Nvidia's next-generation Vera Rubin platform, following Nvidia's 9.3% stake in the company, and it holds side businesses in autonomous driving through Avride and data infrastructure through ClickHouse and Toloka. Nebius is building far more than a GPU rental business, and I think the market is still underestimating how big that full-stack platform can become. Bullish on Nebius becoming the first trillion-dollar neocloud hyperscaler, make sure to follow Melvin for more AI infrastructure insights, and if you want to see exactly what I'm buying as an analyst at Milk Road Pro, you can check out the link for more.
3:07

Nebius will be the first trillion dollar neocloud hyperscaler. Most neoclouds are stuck in a single business model, renting bare GPU capacity to whoever will pay for it. Nebius is deliberately building across four layers instead, bare metal, managed infrastructure, inference, and eventually agentic tooling and each layer up the stack dramatically expands who can actually buy from them. Bare metal has maybe a dozen viable customers worldwide, since only the biggest players can even use raw infrastructure at that scale. Managed infrastructure opens that up to hundreds of buyers, while inference reaches thousands of potential customers. Agentic services are still early, but they could eventually serve tens of thousands of developers building on top of the platform. That's the real engine behind a trillion dollar outcome, since a single layer rental business caps out far lower than a company selling into an expanding pyramid of customers at every altitude. There's also a strategic decision buried in how Nebius handles its biggest clients. Serving giants like Meta and Microsoft is a double edged sword, since those companies bring their own full software stack and only need physical infrastructure underneath it, which leaves very thin margin for Nebius to capture on top. Roman was explicit that the company's long term strategy is to avoid over relying on any single hyperscaler and instead build a diversified customer portfolio spanning every layer of the stack, so no single client can dictate terms or growth. He also pushed back on the idea that this business is commodity, arguing that keeping up with what a Meta or Microsoft actually demands from infrastructure at true hyperscale is genuinely difficult, which is exactly why most emerging neoclouds can't even compete for that tier of client. The numbers from this week back up the strategy because revenue came in at 582 million dollars, up 454% year over year, while annualized recurring revenue hit 3.0 billion dollars, up 58% quarter over quarter. Four separate customer contracts signed during the quarter were each worth more than 1 billion dollars in total contract value. Pricing power tells the same story from a different angle. Nebius's newest capacity auction cleared 15% above any price it had ever charged before, and short notice hardware is now going for 40 to 50 million dollars per megawatt, roughly four to five times the 9.8 million dollar per megawatt baseline from earlier deals. That kind of pricing trajectory, paired with a push into higher margin inference and agentic layers, builds a revenue mix that scales well past what a pure infrastructure landlord could ever reach. There are a few other pieces that make Nebius structurally different from the rest of the pack because it owns its full vertical stack, from data center design to server racks to the software layer running on top of all of it. It also has early access to Nvidia's next-generation Vera Rubin platform, following Nvidia's 9.3% stake in the company, and it holds side businesses in autonomous driving through Avride and data infrastructure through ClickHouse and Toloka. Nebius is building far more than a GPU rental business, and I think the market is still underestimating how big that full-stack platform can become. Bullish on Nebius becoming the first trillion-dollar neocloud hyperscaler, make sure to follow Melvin for more AI infrastructure insights, and if you want to see exactly what I'm buying as an analyst at Milk Road Pro, you can check out the link for more.

Melvin

29,000 görüntüleme • 1 ay önce

Jim Cramer just went on Mad Money and told investors to stay away from Nebius and that alone might be the strongest buy signal of the week (Save this). "Nebius is at the nexus of the craziness right now," Cramer said. "This stock is not done going down. There will be another time to buy it, but that time is not now." If you were waiting for one more confirmation, this week handed you several and the fundamentals moved the opposite direction from the stock price. Job postings in Singapore for Data Center Project Development, Site Selection & Colocation and Technical Due Diligence show Nebius actively scouting a new market, following similar signals in Wales and India within the same four day window. Job postings are a leading indicator that typically show up before a formal data center announcement, not after. Now here is the actual fundamental news from this week and it matters. Nebius announced a brand new business model, asset light infrastructure partnerships. Instead of financing every data center itself, outside partners will finance, own and operate the physical facilities. Nebius supplies the systems architecture, hardware design, software stack and its global sales organization. This is the same playbook major cloud providers and chipmakers have used for years, outsource the capital heavy physical layer, keep the high margin design and customer relationship layer. This directly addresses Nebius's biggest historical risk, the capital intensity of building GPU data centers fast enough to keep pace with demand. Nebius has already signed initial partnership deals under the new structure, meaning capacity can now scale globally without spending its own capital on land, steel, and power. None of this guarantees the stock stops falling in the short term, momentum is negative and the stock sits roughly 40% below its June all time high. The stock may keep falling but the thesis just got stronger and I am buying the company Nebius is becoming. Extremely bullish on Nebius and make sure to follow me Melvin for more underrated gems.
0:21

Jim Cramer just went on Mad Money and told investors to stay away from Nebius and that alone might be the strongest buy signal of the week (Save this). "Nebius is at the nexus of the craziness right now," Cramer said. "This stock is not done going down. There will be another time to buy it, but that time is not now." If you were waiting for one more confirmation, this week handed you several and the fundamentals moved the opposite direction from the stock price. Job postings in Singapore for Data Center Project Development, Site Selection & Colocation and Technical Due Diligence show Nebius actively scouting a new market, following similar signals in Wales and India within the same four day window. Job postings are a leading indicator that typically show up before a formal data center announcement, not after. Now here is the actual fundamental news from this week and it matters. Nebius announced a brand new business model, asset light infrastructure partnerships. Instead of financing every data center itself, outside partners will finance, own and operate the physical facilities. Nebius supplies the systems architecture, hardware design, software stack and its global sales organization. This is the same playbook major cloud providers and chipmakers have used for years, outsource the capital heavy physical layer, keep the high margin design and customer relationship layer. This directly addresses Nebius's biggest historical risk, the capital intensity of building GPU data centers fast enough to keep pace with demand. Nebius has already signed initial partnership deals under the new structure, meaning capacity can now scale globally without spending its own capital on land, steel, and power. None of this guarantees the stock stops falling in the short term, momentum is negative and the stock sits roughly 40% below its June all time high. The stock may keep falling but the thesis just got stronger and I am buying the company Nebius is becoming. Extremely bullish on Nebius and make sure to follow me Melvin for more underrated gems.

Melvin

27,692 görüntüleme • 2 ay önce

How could you possibly be bearish on compute right now? (Save this). Every 10 seconds in 2026, the world generates 31.7 billion tokens and by 2030, that number hits 1.27 trillion, every 10 seconds. That's a 40x increase and that's before the full agent economy comes online. The Qualcomm CEO said total token demand by 2030 is in the quintillions. Here's what most people miss because when you use ChatGPT, you generate tokens one conversation at a time but agents don't sleep. ] They run 24/7, spawning sub-agents, carrying context, updating memory, catching mistakes and every single one of those actions burns tokens. The shift from human paced to agent paced activity is the single biggest structural change in compute demand we've ever seen. You don't need a perfect forecast but rather just need to believe agents become persistent and if they do, compute demand goes vertical. The infrastructure has to be built before the demand fully arrives, which means the window to own the picks and shovels is right now. That's where neoclouds like Nebius come in. Nebius isn't trying to be AWS, it is a pure-play AI cloud, GPU clusters, inference infrastructure, and developer tooling built from scratch for AI workloads. Q1 2026 revenue hit $399M, up 684% year over year and they're guiding for $7–$9 billion annualized run rate by end of 2026. Analysts are modeling roughly 2,000% total revenue growth from end of 2025 to end of 2027. They already have contracts with Microsoft and Meta already signed. Capex guidance raised to $20–$25 billion because customer commitments justified it. They are sold out of capacity because the constraint isn't customers, it's how fast they can build. Adjusted EBITDA margin on the core AI business hit 45% in Q1 and Jensen Huang called Nebius a close partner at GTC 2026. And in a world where GPU access is the single biggest competitive moat, that relationship matters more than most people realize. The bear case on compute requires you to believe the agent economy stalls and that's a very lonely bet to make right now. Bullish on Nebius and Milk Pro subscribers are already up massively on this trade, come join us using the link below to get our full AI trades and we have a HUGE 33% off right now!
0:34

How could you possibly be bearish on compute right now? (Save this). Every 10 seconds in 2026, the world generates 31.7 billion tokens and by 2030, that number hits 1.27 trillion, every 10 seconds. That's a 40x increase and that's before the full agent economy comes online. The Qualcomm CEO said total token demand by 2030 is in the quintillions. Here's what most people miss because when you use ChatGPT, you generate tokens one conversation at a time but agents don't sleep. ] They run 24/7, spawning sub-agents, carrying context, updating memory, catching mistakes and every single one of those actions burns tokens. The shift from human paced to agent paced activity is the single biggest structural change in compute demand we've ever seen. You don't need a perfect forecast but rather just need to believe agents become persistent and if they do, compute demand goes vertical. The infrastructure has to be built before the demand fully arrives, which means the window to own the picks and shovels is right now. That's where neoclouds like Nebius come in. Nebius isn't trying to be AWS, it is a pure-play AI cloud, GPU clusters, inference infrastructure, and developer tooling built from scratch for AI workloads. Q1 2026 revenue hit $399M, up 684% year over year and they're guiding for $7–$9 billion annualized run rate by end of 2026. Analysts are modeling roughly 2,000% total revenue growth from end of 2025 to end of 2027. They already have contracts with Microsoft and Meta already signed. Capex guidance raised to $20–$25 billion because customer commitments justified it. They are sold out of capacity because the constraint isn't customers, it's how fast they can build. Adjusted EBITDA margin on the core AI business hit 45% in Q1 and Jensen Huang called Nebius a close partner at GTC 2026. And in a world where GPU access is the single biggest competitive moat, that relationship matters more than most people realize. The bear case on compute requires you to believe the agent economy stalls and that's a very lonely bet to make right now. Bullish on Nebius and Milk Pro subscribers are already up massively on this trade, come join us using the link below to get our full AI trades and we have a HUGE 33% off right now!

Milk Road AI

16,310 görüntüleme • 2 ay önce

Nebius will be the first neocloud to hit $1 trillion dollar company and here is exactly why (Save this). As dylan patel says Jensen Huang absolutely hates a world where the hyperscalers have all the power. A world where Microsoft, Amazon, and Google are the only ones building compute is a world where Nvidia is slowly being squeezed by a handful of customers all simultaneously developing custom chips to replace Nvidia GPUs entirely. Google's TPU, Amazon's Trainium and Microsoft's Maia all exist for one reason, to cut Nvidia out of the stack and Jensen knows it so he is playing a long game most investors haven't registered yet. By funding NeoClouds and NeoLabs at scale, Jensen is deliberately engineering a multipolar compute world where no single hyperscaler can dictate terms and where Nvidia hardware remains the default infrastructure layer regardless of which model or platform ultimately wins. Nvidia has deployed roughly $40 billion in AI ecosystem investments across OpenAI, Anthropic, CoreWeave, Nebius, xAI, and dozens of infrastructure companies, all running almost exclusively on Nvidia chips, cementing GPU dependency across the entire AI stack.sedaily Every neocloud that survives and scales becomes a permanent Nvidia GPU customer structurally opposed to the hyperscalers building custom silicon expanding Nvidia's market while simultaneously weakening its biggest competitive threat. Dylan Patel described the neocloud ecosystem as throwing bait into the water and letting the best fish survive, warning that many heavily-backed teams will fail, but the ones that emerge will pull hundreds of millions in ARR right out of the gate. Nebius is that fish because it's the only neocloud operating at hyperscaler scale while remaining fully purpose-engineered for AI workloads from silicon to software. The numbers confirm Nebius has already cleared the survival bar that will eliminate most of the 200+ neoclouds competing right now. Revenue hit $399 million in Q1 2026, up 684% year-over-year, backed by $46 billion in contracted backlog, 3.5 GW of contracted power across seven site and a target of $7–$9 billion in annualized revenue by year-end. When Google approached neoclouds about deploying TPUs, Nebius said no, its Chief Revenue Officer noting that demand is 99% for Nvidia GPUs and that TPU interest comes almost entirely from former Google employees rather than the actual market. That alignment with Nvidia's ecosystem, at this scale, with this backlog, and this level of strategic backing is why Nebius sits in a category of one among the neocloud field. Patel framed the broader play correctly, every neocloud that survives makes Google's TPU and Amazon's Trainium structurally weaker simply by existing and five years from now, the winners will have reshaped the entire compute landscape in Nvidia's favor. Nebius is already hundreds of millions in ARR ahead of the competition while most of the field is still treading water. Milk Road subscribers are already up massively on the Nebius trade, and we are tracking the neocloud buildout as Nvidia works to reshape the entire compute market. Come join Milk Road Pro for our full Nebius breakdown, the valuation framework, the revenue targets we are watching, and the AI infrastructure names we like next for just $1. Link below!
2:12

Nebius will be the first neocloud to hit $1 trillion dollar company and here is exactly why (Save this). As dylan patel says Jensen Huang absolutely hates a world where the hyperscalers have all the power. A world where Microsoft, Amazon, and Google are the only ones building compute is a world where Nvidia is slowly being squeezed by a handful of customers all simultaneously developing custom chips to replace Nvidia GPUs entirely. Google's TPU, Amazon's Trainium and Microsoft's Maia all exist for one reason, to cut Nvidia out of the stack and Jensen knows it so he is playing a long game most investors haven't registered yet. By funding NeoClouds and NeoLabs at scale, Jensen is deliberately engineering a multipolar compute world where no single hyperscaler can dictate terms and where Nvidia hardware remains the default infrastructure layer regardless of which model or platform ultimately wins. Nvidia has deployed roughly $40 billion in AI ecosystem investments across OpenAI, Anthropic, CoreWeave, Nebius, xAI, and dozens of infrastructure companies, all running almost exclusively on Nvidia chips, cementing GPU dependency across the entire AI stack.sedaily Every neocloud that survives and scales becomes a permanent Nvidia GPU customer structurally opposed to the hyperscalers building custom silicon expanding Nvidia's market while simultaneously weakening its biggest competitive threat. Dylan Patel described the neocloud ecosystem as throwing bait into the water and letting the best fish survive, warning that many heavily-backed teams will fail, but the ones that emerge will pull hundreds of millions in ARR right out of the gate. Nebius is that fish because it's the only neocloud operating at hyperscaler scale while remaining fully purpose-engineered for AI workloads from silicon to software. The numbers confirm Nebius has already cleared the survival bar that will eliminate most of the 200+ neoclouds competing right now. Revenue hit $399 million in Q1 2026, up 684% year-over-year, backed by $46 billion in contracted backlog, 3.5 GW of contracted power across seven site and a target of $7–$9 billion in annualized revenue by year-end. When Google approached neoclouds about deploying TPUs, Nebius said no, its Chief Revenue Officer noting that demand is 99% for Nvidia GPUs and that TPU interest comes almost entirely from former Google employees rather than the actual market. That alignment with Nvidia's ecosystem, at this scale, with this backlog, and this level of strategic backing is why Nebius sits in a category of one among the neocloud field. Patel framed the broader play correctly, every neocloud that survives makes Google's TPU and Amazon's Trainium structurally weaker simply by existing and five years from now, the winners will have reshaped the entire compute landscape in Nvidia's favor. Nebius is already hundreds of millions in ARR ahead of the competition while most of the field is still treading water. Milk Road subscribers are already up massively on the Nebius trade, and we are tracking the neocloud buildout as Nvidia works to reshape the entire compute market. Come join Milk Road Pro for our full Nebius breakdown, the valuation framework, the revenue targets we are watching, and the AI infrastructure names we like next for just $1. Link below!

Milk Road AI

92,855 görüntüleme • 3 ay önce

SemiAnalysis's Jordan Nanos says CoreWeave is so backed up a customer with $100 million to spend was told to wait until May, so Nebius has been capitalizing "They're serving this middle tier of the market. CoreWeave has set the standard. I mean, they are the best in terms of technology, this reliability stuff I'm talking about. They just have so much data for monitoring." "I mean, these guys deploy 10,000 GPUs a week at the peak when they're building data centers. And so that's incredible. But like their balance sheet is full. There's only so many people that you can marshal and resources to build out another gigawatt when they're going to 1.5 and beyond." "So Nebius has really capitalized on this middle tier of the market, which is not small." "Like I said, this is customers who are coming to us and saying, hey, I saw you write such good things about CoreWeave. I just have $100 million. I'm trying to give it to them. They're telling me they can't accept it until May of next year because they're backed up. And therefore, Nebius has been capitalizing." ______ For more commentary on CoreWeave and Nebius:
0:48

SemiAnalysis's Jordan Nanos says CoreWeave is so backed up a customer with $100 million to spend was told to wait until May, so Nebius has been capitalizing "They're serving this middle tier of the market. CoreWeave has set the standard. I mean, they are the best in terms of technology, this reliability stuff I'm talking about. They just have so much data for monitoring." "I mean, these guys deploy 10,000 GPUs a week at the peak when they're building data centers. And so that's incredible. But like their balance sheet is full. There's only so many people that you can marshal and resources to build out another gigawatt when they're going to 1.5 and beyond." "So Nebius has really capitalized on this middle tier of the market, which is not small." "Like I said, this is customers who are coming to us and saying, hey, I saw you write such good things about CoreWeave. I just have $100 million. I'm trying to give it to them. They're telling me they can't accept it until May of next year because they're backed up. And therefore, Nebius has been capitalizing." ______ For more commentary on CoreWeave and Nebius:

Fireside Alpha

59,732 görüntüleme • 6 gün önce

The market is watching xAI charge $50 billion per gigawatt and the rest of the neocloud sector run up is just getting started (Save this). According to Gavin Baker of Atreides Management, this is the most important number in AI infrastructure right now, xAI is monetizing compute at $50 billion per gigawatt on the Google deal, 2 to 3 times what any neocloud competitor charges. Google is paying $920 million per month for access to roughly 110,000 Nvidia GPUs through June 2029, and Anthropic is paying $1.25 billion per month for Colossus 1's 300 megawatts. Baker's point is simple that stop tracking rocket launches, stop tracking GPU orders, model gigawatt additions. At $50 billion per gigawatt, every new gigawatt that xAI energizes over the next 12 months is a revenue event that the market has not yet priced in. But this is not just an xAI story but rather why neocloud stocks are one of the most mispriced assets in the entire AI stack. Neoclouds charge $17 to $25 billion per gigawatt in contract value, a dramatic discount to xAI's pricing, but still an extraordinary business model when the underlying infrastructure costs $9 to $12 million per megawatt to operate and customers are signing 5-year locked contracts. H100 GPU-hours from neoclouds like Nebius at $2.95 per GPU-hour are 66% cheaper than hyperscaler rates, which is the structural reason enterprise AI teams are shifting spend to neoclouds at an accelerating pace. The neocloud market is projected to grow 69% annually through 2030 to reach nearly $180 billion and right now only a handful of public companies offer direct exposure to it. Nebius is the standout among the publicly traded neoclouds. It reported Q1 2026 AI cloud revenue of $399 million, an 841% increase year over year beating estimates, with its CEO stating that demand continues to exceed available capacity and customers are actively being turned away. Nebius commands a 20 to 25% revenue premium over peers thanks to its full-stack software offering, European sovereign positioning, and data residency advantages that physically prevent hyperscalers from competing for a large portion of its customer base. It has $49 billion in contracted backlog with Meta, Microsoft, and Nvidia meaning its revenue trajectory for the next three to five years is not a forecast, it is a schedule. The competitive moat is in power, permits, and speed exactly what xAI has proven is the true bottleneck. Jensen Huang said publicly that xAI deploys data centers faster than anyone else in the ecosystem, and Baker called out that this deployment speed advantage directly translates to monetization speed, every week of earlier energization at these pricing levels is worth hundreds of millions in revenue. Neoclouds with secured power, permits, and long-term customer contracts are not in a fair race against companies still waiting on grid connections and zoning approvals. The companies with the most locked in gigawatts coming online in 2026 and 2027 are about to have very good years.
1:14

The market is watching xAI charge $50 billion per gigawatt and the rest of the neocloud sector run up is just getting started (Save this). According to Gavin Baker of Atreides Management, this is the most important number in AI infrastructure right now, xAI is monetizing compute at $50 billion per gigawatt on the Google deal, 2 to 3 times what any neocloud competitor charges. Google is paying $920 million per month for access to roughly 110,000 Nvidia GPUs through June 2029, and Anthropic is paying $1.25 billion per month for Colossus 1's 300 megawatts. Baker's point is simple that stop tracking rocket launches, stop tracking GPU orders, model gigawatt additions. At $50 billion per gigawatt, every new gigawatt that xAI energizes over the next 12 months is a revenue event that the market has not yet priced in. But this is not just an xAI story but rather why neocloud stocks are one of the most mispriced assets in the entire AI stack. Neoclouds charge $17 to $25 billion per gigawatt in contract value, a dramatic discount to xAI's pricing, but still an extraordinary business model when the underlying infrastructure costs $9 to $12 million per megawatt to operate and customers are signing 5-year locked contracts. H100 GPU-hours from neoclouds like Nebius at $2.95 per GPU-hour are 66% cheaper than hyperscaler rates, which is the structural reason enterprise AI teams are shifting spend to neoclouds at an accelerating pace. The neocloud market is projected to grow 69% annually through 2030 to reach nearly $180 billion and right now only a handful of public companies offer direct exposure to it. Nebius is the standout among the publicly traded neoclouds. It reported Q1 2026 AI cloud revenue of $399 million, an 841% increase year over year beating estimates, with its CEO stating that demand continues to exceed available capacity and customers are actively being turned away. Nebius commands a 20 to 25% revenue premium over peers thanks to its full-stack software offering, European sovereign positioning, and data residency advantages that physically prevent hyperscalers from competing for a large portion of its customer base. It has $49 billion in contracted backlog with Meta, Microsoft, and Nvidia meaning its revenue trajectory for the next three to five years is not a forecast, it is a schedule. The competitive moat is in power, permits, and speed exactly what xAI has proven is the true bottleneck. Jensen Huang said publicly that xAI deploys data centers faster than anyone else in the ecosystem, and Baker called out that this deployment speed advantage directly translates to monetization speed, every week of earlier energization at these pricing levels is worth hundreds of millions in revenue. Neoclouds with secured power, permits, and long-term customer contracts are not in a fair race against companies still waiting on grid connections and zoning approvals. The companies with the most locked in gigawatts coming online in 2026 and 2027 are about to have very good years.

Milk Road AI

74,945 görüntüleme • 3 ay önce

My full interview with Roman Chernin, Co-founder & Chief Business Officer of Nebius Nebius just signed a $17 billion deal with Microsoft and a $3 billion deal with Meta. These are two of the biggest tech companies on Earth - and they're coming to Nebius for AI infrastructure. But the company does so much more than that: - Full-stack AI cloud (data centers → software → managed services) - Nebius Token Factory Nebius Token Factory for managed inference & post-training - Partners include Shopify, Higgsfield, Jetbrains My 5 takeaways with Roman Chernin below - thanks for the conversation! Full interview also available on YT ⬇️ Timestamps: 00:00 - Introduction 01:47 - Overview of Nebius $NBIS 03:23 - Roman's background and role at Nebius 04:10 - The $17B Microsoft & $3B Meta deals 05:29 - Why hyperscalers trust Nebius over building in-house 07:06 - Nebius's full-stack approach: Data centers to managed services 08:39 - Customer segmentation: Hyperscalers & Frontier AI Labs vs AI Startups vs Enterprises 14:41 - Token Factory explained: Managed inference & post-training 17:41 - When to switch from closed-source to open-source models 20:59 - Real results: Process achieves 26% cost reduction 25:05 - Why developers love building on Nebius 28:40 - AI agents and the future of infrastructure interaction 32:22 - NVIDIA's Groq acquisition: What it means for inference 35:38 - Why AI adoption will surprise us
39:46

My full interview with Roman Chernin, Co-founder & Chief Business Officer of Nebius Nebius just signed a $17 billion deal with Microsoft and a $3 billion deal with Meta. These are two of the biggest tech companies on Earth - and they're coming to Nebius for AI infrastructure. But the company does so much more than that: - Full-stack AI cloud (data centers → software → managed services) - Nebius Token Factory Nebius Token Factory for managed inference & post-training - Partners include Shopify, Higgsfield, Jetbrains My 5 takeaways with Roman Chernin below - thanks for the conversation! Full interview also available on YT ⬇️ Timestamps: 00:00 - Introduction 01:47 - Overview of Nebius $NBIS 03:23 - Roman's background and role at Nebius 04:10 - The $17B Microsoft & $3B Meta deals 05:29 - Why hyperscalers trust Nebius over building in-house 07:06 - Nebius's full-stack approach: Data centers to managed services 08:39 - Customer segmentation: Hyperscalers & Frontier AI Labs vs AI Startups vs Enterprises 14:41 - Token Factory explained: Managed inference & post-training 17:41 - When to switch from closed-source to open-source models 20:59 - Real results: Process achieves 26% cost reduction 25:05 - Why developers love building on Nebius 28:40 - AI agents and the future of infrastructure interaction 32:22 - NVIDIA's Groq acquisition: What it means for inference 35:38 - Why AI adoption will surprise us

Elliot Garreffa

29,888 görüntüleme • 7 ay önce

Nebius will be a TRILLION dollar company and here is exactly why (Save this). Brad Gerstner's Altimeter just said on camera that they are invested in ClickHouse, and explained exactly why in one sentence: "If you're in the data infrastructure layer, then token consumption is driving a lot more consumption of your basic services." The flip side of that point is equally important. Gerstner added that the closer you are to a point solution, a single use app built on top of AI, "that feels like you're on the front of the conveyor belt heading toward the guillotine." Models get better, apps get commoditized and the companies that own the foundational infrastructure that every AI application must run through keep compounding. ClickHouse is exactly that foundational layer. It is a real time analytical database engine originally built inside Yandex, optimized for the exact query patterns that AI agents, LLM observability pipelines, and machine learning infrastructure generate, massive write volumes, complex aggregations, and sub-second response at scale. It processes hundreds of billions of rows per second, serves over 2,000 enterprise customers including Cloudflare, Uber and ByteDance, and grew 300% in a single year. In January 2026, a $400 million Series D valued ClickHouse at $15 billion more than double its $6 billion valuation just eight months prior. Here is where Nebius comes in. Nebius holds a 28% stake in ClickHouse, an asset that traces back to its Yandex origins. At ClickHouse's current $15 billion valuation, that stake is worth approximately $4.2 billion, sitting largely unrecognized on Nebius's balance sheet while most market coverage focuses entirely on the AI cloud business. A ClickHouse IPO, which the company is actively positioning toward, would force the market to mark that position to full public market value for the first time and could alone reprice Nebius meaningfully. But that hidden asset is just one layer of the bull case. The core AI cloud business just printed 684% year over year revenue growth, $399 million in Q1 2026 against $50 million a year prior. AI specific revenue grew 841% and now represents 98% of total revenue. The moat underneath those numbers is 3.5 gigawatts of secured power capacity, a $27 billion five year contract with Meta, a $2 billion strategic investment from Nvidia, and a Microsoft partnership ramping to full run rate in 2027, all stacked on top of a ClickHouse stake that the market is still not fully pricing in. Milk Road Pro remains massively bullish on Nebius, we called it early, we are up huge on the position, and we continue to track every development across AI infrastructure before it becomes obvious to the rest of the market. Come join us to see our full Nebius thesis and every other position in the portfolio, link below!
0:20

Nebius will be a TRILLION dollar company and here is exactly why (Save this). Brad Gerstner's Altimeter just said on camera that they are invested in ClickHouse, and explained exactly why in one sentence: "If you're in the data infrastructure layer, then token consumption is driving a lot more consumption of your basic services." The flip side of that point is equally important. Gerstner added that the closer you are to a point solution, a single use app built on top of AI, "that feels like you're on the front of the conveyor belt heading toward the guillotine." Models get better, apps get commoditized and the companies that own the foundational infrastructure that every AI application must run through keep compounding. ClickHouse is exactly that foundational layer. It is a real time analytical database engine originally built inside Yandex, optimized for the exact query patterns that AI agents, LLM observability pipelines, and machine learning infrastructure generate, massive write volumes, complex aggregations, and sub-second response at scale. It processes hundreds of billions of rows per second, serves over 2,000 enterprise customers including Cloudflare, Uber and ByteDance, and grew 300% in a single year. In January 2026, a $400 million Series D valued ClickHouse at $15 billion more than double its $6 billion valuation just eight months prior. Here is where Nebius comes in. Nebius holds a 28% stake in ClickHouse, an asset that traces back to its Yandex origins. At ClickHouse's current $15 billion valuation, that stake is worth approximately $4.2 billion, sitting largely unrecognized on Nebius's balance sheet while most market coverage focuses entirely on the AI cloud business. A ClickHouse IPO, which the company is actively positioning toward, would force the market to mark that position to full public market value for the first time and could alone reprice Nebius meaningfully. But that hidden asset is just one layer of the bull case. The core AI cloud business just printed 684% year over year revenue growth, $399 million in Q1 2026 against $50 million a year prior. AI specific revenue grew 841% and now represents 98% of total revenue. The moat underneath those numbers is 3.5 gigawatts of secured power capacity, a $27 billion five year contract with Meta, a $2 billion strategic investment from Nvidia, and a Microsoft partnership ramping to full run rate in 2027, all stacked on top of a ClickHouse stake that the market is still not fully pricing in. Milk Road Pro remains massively bullish on Nebius, we called it early, we are up huge on the position, and we continue to track every development across AI infrastructure before it becomes obvious to the rest of the market. Come join us to see our full Nebius thesis and every other position in the portfolio, link below!

Milk Road AI

216,498 görüntüleme • 4 ay önce

Nebius will be a trillion dollar company (Save this). The neocloud market, purpose-built AI cloud infrastructure, separate from legacy hyperscalers generated roughly $25 billion in revenue in 2025, up 223% year over year. Synergy Research projects it will approach $400 billion by 2031, compounding at 58% annually one of the fastest sustained growth rates ever recorded for an infrastructure category of this scale. The CEO's explanation for why they win is worth understanding in detail. GPU compute is scarce and that part everyone knows but Nebius is not simply renting GPUs by the hour and marking them up, which is what most neocloud imitators do. They have built their own physical capacity for inference, optimized the full technology stack from the software layer all the way down to the rack hardware and recently acquired a company called Agen specifically to push inference latency even lower and throughput even higher. The CEO frames the core problem directly that in 2026, every product you build is powered by tokens, AI intelligence and while you can get those tokens from OpenAI or Anthropic via a simple API call, the moment you want to run open source models, specialized vertical models, or anything other than the two dominant frontier labs, you run into a wall. You can download the weights from Hugging Face and assemble the pieces. But getting those workloads to run at scale, at the economics you need, with the reliability your product requires, is an extraordinarily complex engineering challenge that most companies cannot staff or afford to solve in-house. That is the problem Nebius is solving, and that is why their inference product called Token Factory exists. The financial results are among the most dramatic growth numbers reported by any public company this year. In Q1 2026, Nebius posted $399 million in revenue, a 684% increase from the same quarter a year earlier. In the span of twelve months, the company swung from a $104 million net loss to $621 million in net income. Cash from operations went from negative $184 million to positive $2.26 billion in the same period meaning this is not growth funded by burning investor capital, it is growth that is now generating its own fuel. For the full year 2026, Nebius is guiding for an annualized revenue run rate of $7 billion to $9 billion, with pipeline creation tracking to surpass $4 billion. The contracted backlog sits at $49 billion, anchored by a $27 billion agreement with Meta, a deal worth up to $19.4 billion with Microsoft, and a public endorsement from Jensen Huang at NVIDIA's GTC conference in 2026. The current market cap is approximately $56 billion. A company with $7 to $9 billion in annualized revenue, growing at 684%, turning cash-flow positive, sitting on $49 billion in contracted backlog, operating in a market compounding at 58% annually toward $400 billion, that company has a credible path to 20x from its current valuation if execution holds. That is the trillion dollar case, and it does not require any heroic assumptions and it requires Nebius to keep doing what it is already demonstrably doing. Milk Road Pro called this one early. Our analysts added Nebius to the portfolio when it was still flying under the radar, and we are sitting on a massive gain on that position right now. If you want to see what else we are building conviction on before the rest of the market catches up, come join us at Milk Road Pro using the link below!
1:04

Nebius will be a trillion dollar company (Save this). The neocloud market, purpose-built AI cloud infrastructure, separate from legacy hyperscalers generated roughly $25 billion in revenue in 2025, up 223% year over year. Synergy Research projects it will approach $400 billion by 2031, compounding at 58% annually one of the fastest sustained growth rates ever recorded for an infrastructure category of this scale. The CEO's explanation for why they win is worth understanding in detail. GPU compute is scarce and that part everyone knows but Nebius is not simply renting GPUs by the hour and marking them up, which is what most neocloud imitators do. They have built their own physical capacity for inference, optimized the full technology stack from the software layer all the way down to the rack hardware and recently acquired a company called Agen specifically to push inference latency even lower and throughput even higher. The CEO frames the core problem directly that in 2026, every product you build is powered by tokens, AI intelligence and while you can get those tokens from OpenAI or Anthropic via a simple API call, the moment you want to run open source models, specialized vertical models, or anything other than the two dominant frontier labs, you run into a wall. You can download the weights from Hugging Face and assemble the pieces. But getting those workloads to run at scale, at the economics you need, with the reliability your product requires, is an extraordinarily complex engineering challenge that most companies cannot staff or afford to solve in-house. That is the problem Nebius is solving, and that is why their inference product called Token Factory exists. The financial results are among the most dramatic growth numbers reported by any public company this year. In Q1 2026, Nebius posted $399 million in revenue, a 684% increase from the same quarter a year earlier. In the span of twelve months, the company swung from a $104 million net loss to $621 million in net income. Cash from operations went from negative $184 million to positive $2.26 billion in the same period meaning this is not growth funded by burning investor capital, it is growth that is now generating its own fuel. For the full year 2026, Nebius is guiding for an annualized revenue run rate of $7 billion to $9 billion, with pipeline creation tracking to surpass $4 billion. The contracted backlog sits at $49 billion, anchored by a $27 billion agreement with Meta, a deal worth up to $19.4 billion with Microsoft, and a public endorsement from Jensen Huang at NVIDIA's GTC conference in 2026. The current market cap is approximately $56 billion. A company with $7 to $9 billion in annualized revenue, growing at 684%, turning cash-flow positive, sitting on $49 billion in contracted backlog, operating in a market compounding at 58% annually toward $400 billion, that company has a credible path to 20x from its current valuation if execution holds. That is the trillion dollar case, and it does not require any heroic assumptions and it requires Nebius to keep doing what it is already demonstrably doing. Milk Road Pro called this one early. Our analysts added Nebius to the portfolio when it was still flying under the radar, and we are sitting on a massive gain on that position right now. If you want to see what else we are building conviction on before the rest of the market catches up, come join us at Milk Road Pro using the link below!

Milk Road AI

28,622 görüntüleme • 4 ay önce