🚨JUST IN: $NBIS JP Morgan $JPM has released 13F adding NEBIUS massively with another 526K shares. Total 1.37M ✅ shares or $154.32M Top #9 Institutional shareholder. 🐳

Someone just bought $63M of $NBIS

NVIDIA CEO ON CALL - GERMANY WILL BE ONE OF THE LARGEST AI MARKETS IN THE WORLD; I CAN'T WAIT FOR US TO INVEST EVEN MORE

DA Davidson raised its Price Target on $NBIS from $125 to $150 and keeps a Buy rating 🟢 This follows the firm's meeting with $NBIS' management yesterday during the opening of its first UK data center.

$NBIS: GS Reiterates Buy Rating with PT Upgraded to $155. Goldman, in their latest research note, cites the following factors, leading to a PT upgrade. 1) AI demand-supply imbalance 2) Upgraded 2026 power roadmap 3) Continued strong traction from large hyperscalers 4) UK & Israel are strategic regions for growth They have also updated their topline estimates by between 15%-32% and expect higher margins than previously forecasted.

🚨 $NBIS x Accenture partnership officially announced during today's GTC session. "Nebius × Accenture = an AI-first cloud + an execution blueprint that moves enterprises from POC to production - fast, governed, and sovereign. Nebius brings supercomputer-class performance with modern cloud flexibility Accenture brings industry know-how and delivery at scale. Together, we deliver a secure, full-stack sovereign AI cloud, from infrastructure to applications, that helps enterprises and public-sector organizations deploy AI faster." — Laurelle Roseman, VP of Global Partnerships at $NBIS BIG news.

$NBIS seeing a little 🐳 action after-hours👀 👀We spotted this 🐳 picking up $4M worth of $NBIS shares after-hours👀

🚨 $NBIS update: Massive land grab for U.S. expansion! Nebius has acquired 79 acres of land in Birmingham, Alabama 🏟️ about the size of 45 soccer fields. The site is large enough to support a 300+ MW AI data center campus ⚡️ They paid about $90M. At full build-out it could power $2–3B in annual recurring revenue 💰 This makes it a strong candidate to become Nebius’ flagship Southeast AI hub 🌐 Everyone can buy land or power, but only Nebius can use it to power the best AI Cloud. $NBIS $CRWV $IREN

🚨JUST IN — $NBIS datacenter in New Jersey is now capable of delivering 50MW. This datacenter could deliver up to 300MW once completed in 6-9 months🔥

In the coming weeks, $NBIS will launch its first UK-based data center and deliver its first Blackwell Ultra cluster. “Stay tuned…”

We are updating the IVES AI Revolution 30 list reflecting recent momentum in the AI Revolution. We are adding CrowdStrike, Roblox, GE Vernova, and Nebius to our list of 30 tech companies that we believe will define the future of the AI theme over the coming years. 🔥🏆🐂🎯🍿

Northland reiterates its Outperform rating and $206 Price Target on $NBIS ahead of Q3 results 🟢 The analyst noted that $NBIS reportedly bought a 79-acre site in Birmingham, AL for $90M, apparently without power currently contracted, but with good potential to secure additional capacity that could put the company ahead of its 1GW contracted power target for CY26.

$NBIS: The majority of 13F filings are out and institutions are buying huge amounts of Nebius shares. Not just any institutions, but some of the world's best investment managers. There is a net buying of 18.5 million shares in Q3 2025. That is almost 24 million shares bought versus 5.4 million shares sold. Top quant funds like Two Sigma (+2.2m shares) and Hudson River Trading (+450k shares) have added to their positions. Top investment banks like UBS (+2.3m shares), Wells Fargo (+2.4m shares), and BNP Paribas (+1.5m shares) have added as well. This is in addition to other investment banks like Citi, Baird, JP Morgan, William Blair, etc. Even George Soros' fund, Soros Capital Management added 229k shares. Ray Dalio's fund, Bridgewater, added 55k shares. Blackrock added a small amount as well. These are top investment managers. Nebius's ownership consists of the world's best investment managers, not just retail. I cannot get more bullish.

BREAKING: $NBIS rises 5% after getting added to MSCI index.

JUST IN: $NBIS is spiking after Bloomberg reported that Microsoft is forecasting data center constraints through 2026, longer than previously outlined. 👀 They are literally turning away Azure customers right now due to lack of capacity. BULLISH.

$NBIS 🐳 ALERT 🚨 🚨At 3:50 pm today some 🐳 picked up $11.8M worth of $NBIS 🚨

🔥NEW $NBIS 2026 price target: $403 (+211%) Disclaimer: This post is not financial advice. I currently hold a highly concentrated long position in Nebius. This is my base case, not my bull case. Personally, I’m leaning a lot more bullish 😉 Many questions will be answered if you read the full post to the end. Oh, and this post is not AI-generated, just FYI. Okay, let’s get started 👇 🧩 Sum-of-the-Parts for the subsidiaries: Fair to say we all underestimated the subsidiaries so far. First we thought they are a nice to have. Then we realized they are actually quite interesting. Now it's starting to become obvious Nebius owns multiple rocket ships. ClickHouse is leading the way, but Avride and Toloka are also incredibly interesting and have explosive potential. I will strictly focus the valution component here, but it's important to understand that Nebius can take debt against their stake in the subsidiaries to raise billions for capacity buildout. If interested in that topic, read my previous posts. • ClickHouse (25%) → $40 B IPO → $10 B stake • Avride (80%) → $10 B → $8 B stake • Toloka (65%) → $9 B → $5.85 B stake • TripleTen (100%) → $0.5 B → $0.5 B stake ➡️ Subsidiary value end of 2026 ≈ $24.35 B Note: Ownership % is after expected dilution, and valuation is estimated for end of 2026, based on constant, high growth. ☁️ Core Business (AI Cloud) • Nebius reported $430 M ARR in Q2 2025 • I estimate active capacity back then was ≈ 52.5 MW → implies $8.2 M ARR per MW • Management said they target “over 1 GW of secured capacity by end of 2026” • I estimate around 500 MW will be active and monetizable ➡️ That implies $4.1 B ARR by end of 2026 💰 Gross Margins • Reported 71 % in Q2 2025 • I expect it to rise to 75–80 % by end of 2026 Why? Higher utilization, rising electricity costs offset by increased hardware and system efficiency, but most importantly a rapidly increasing shift toward highly profitable Managed Services (software) as a key part of Nebius’ revenue mix. ✖️ Valuation Multiple If we look across the industry and compare Nebius on quality of revenue, growth, margins, ROIC, and risk profile, I consistently see an ARR multiple range of 18–25× as realistic. I’ll assume an ARR multiple of 22× for now. It’s worth mentioning Nebius sits in the top 1 % of the industry for both growth and gross margins. Some people here on X don’t understand the business model well and will tell you that 22× ARR is crazy. It’s actually quite conservative in context. ➡️ Core business = $4.1 B ARR × 22 = $90.2 B 🧮 Total Enterprise Value (end of 2026) Core $90.2 B + Subs $24.35 B = $114.55 B • Let's assume ≈ 12 % dilution ➡️ effective per-share value ≈ $100.8 B equivalent 💰 Upside Market cap today ≈ $32.54 B End of 2026: $100.8 B → 3.1× upside (+211 %) 🎯 Base-Case Target: $403 / share If Nebius multiples expand to 30–50× ARR, that would get into the overextended area, but I can see it happen (I mean uhm… Palantir 👀). That would imply: • 30× ARR → $550 / share • 50× ARR → $916 / share 🔥🤯 The giga bull case: 600-700+ MW of active capacity, fully utilized with a hot market giving Nebius finally a hot multiple of 30+. That's how Nebius could literally get to $1'000 / share. I'm not guiding for this, but I do want to point out how easily this would be possible. Basically hot market (I think 50%+ chance) + execution excellence (I think also 50%+ chance) = crazy upside here. Just to repeat the assumptions and why this is so wild if you only look at the naked numbers: Nebius is scaling from 0 → $4 B ARR in ~2 years, while expanding margins and owning billion-dollar subsidiaries, in a multi-trillion-dollar market growing faster than any before. So let me just say it again: you’re not bullish enough 😉 Nebius is the most asymmetric opportunity in the market right now. That's why I'm not scared of the risks, because frankly speaking: even if multiple worst case scenarios happen, I think the stock would still do fine, because it's that undervalued. I do however still want to share the risk I am monitoring ⚠️ Key Risks I’m monitoring: • Multiple Founders and top executives are based in Tel Aviv. I do NOT want to get political, but I think it's safe to say that that's not the physically most safe place to be on the planet. I hope the current peace deal is going to happen, but as Trump once put it so eloquently "What if anything, what if a bomb drops on your head right now?" There are few regions in the world where that could literally happen. Tel Aviv is sadly one of them. I don't want to spread FUD, but I feel like in order to stay 100% transparent with everyone, I do want to mention this risk, it's the only Nebius risk that I actually care about. And yes, of course the business, customers, etc. are increasingly based in the US, but I think Arkady, Roman, etc. are super important (obviously, duh), so I hope they will always be safe. • Chip access: dependence on NVIDIA supply and relationships. • Power infrastructure: limited grid connections, permitting delays, or poor site access could cap build-out. • Energy costs: spikes in electricity that outpace chip efficiency could pressure margins. The opposite, innovation in power systems and NVIDIA’s energy efficiency, could become a huge tailwind. • Execution risk: scaling 10× capacity in under 2 years is operationally extreme. The team has long experience with NVIDIA and data-center builds, but physical challenges are always tough. • Macro/political shocks: mainly supply-chain disruptions in chips (China / Taiwan / TSMC etc.). That's it for now. Looking forward to hearing your thoughts! If you got some value from my post, please share it with your friends / investor group :)

It’s now official: $NBIS will open its data center in the UK tomorrow. 🇬🇧 CEO Arkady Volozh will be speaking at the Future of AI Summit in London, a conference the $NBIS team is attending. Source: Dr. Ilya Burkov The initial deployment is expected to include 4,000 NVIDIA Blackwell Ultra GPUs, marking one of the first installations of its kind in Europe.

$NBIS now down over 21.5 percent from its high of around $56.50 !!

$NBIS ClickHouse has acquired LibreChat, the leading open-source AI chat platform that provides a unified interface for interacting with multiple LLMs, giving users and organizations full control over their data, agents, and conversations. 👀 LibreChat will become a core component of ClickHouse's vision for Agent-Facing Analytics, forming the foundation of an open-source Agentic Data Stack. By combining LibreChat's agent framework with ClickHouse's analytical performance at scale, it's now easier than ever to build AI analytics agents capable of exposing massive datasets to agents operating on behalf of users. Example: Shopify Shopify is one of LibreChat's users. Leveraging the open-source platform, $SHOP built tools like an RFP assistant that pulls from company data, rates response confidence, and improves over time. “LibreChat powers reflexive AI use across Shopify. With near-universal adoption and thousands of custom agents, teams use it to solve real problems, increase productivity, and keep quality high. By connecting 30+ internal MCP servers, it democratizes access to critical information across the company.” — Matt Burnett, Senior Engineer at Shopify "Internally, we also use LibreChat for data analysis and it now handles ~70% of our data warehouse queries for 200+ users. The productivity boost has been remarkable." — Dmitry Pavlov, Director of Engineering, ClickHouse Why this matters: the Agentic Data Stack The Agentic Data Stack aims to dramatically reduce time to insight. Traditional analytics workflows often involve several handoffs between engineers, analysts, and business users, introducing latency that can take hours or days. With agentic analytics, that process collapses to seconds or minutes. A product manager can ask, “What caused the spike in churn last week?” and immediately receive not only the answer, but also the underlying queries, visualizations, and follow-up insights. ClickHouse's internal agent, Dwaine (Data Warehouse AI Natural Expert), demonstrates this potential. It allows internal teams to query business data in natural language, answering questions like “What's our current revenue?” or “What issues are customers experiencing?” almost instantly. Since launch, usage has skyrocketed from 15 million to 33 million LLM tokens per day, transforming how teams access insights and eliminating the bottleneck of hand-written SQL queries. With LibreChat’s agentic layer now part of ClickHouse, this vision expands beyond internal tools, bringing agentic analytics to organizations globally. What's next for LibreChat and ClickHouse users "What doesn't change: ✓ LibreChat remains 100% open source (MIT license) ✓ Community-first development continues ✓ Your existing LibreChat deployments work exactly as before What gets better: ✓ Enterprise-ready features for production agentic analytics workloads ✓ Native LibreChat experience alongside ClickHouse Cloud instances ✓ Extended data visualization support, enterprise-grade security and governance, and a tailored semantic layer"

$NBIS seeing some after-hours 🐳 action👀 👀 At 4:20 pm some 🐳 picked up $11.4M worth of $NBIS shares 👀

According to BloombergNEF, AWS is planning to nearly quadruple its current 3GW+ capacity to more than 12GW. $AMZN $GOOG $MSFT $META

$NBIS 🐳🚨 🚨 Massive triple order block on $NBIS heading into the closing bell today. All 3 order blocks printed at the same price and all were well over the current time frame bid/ask prices. 🚨 These 3 blocks combine for $155.4M worth of shares.

JUST IN: Anthropic is projecting $20–26B in ARR by 2026, up from an expected $9B at the end of this year. 🤯 Friendly reminder: Anthropic runs its observability data on ClickHouse, billed on a usage-based model. Long $NBIS. With major customers like Anthropic, OpenAI, Tesla, Meta, and other AI leaders, it's no surprise ClickHouse has quadrupled its ARR over the past 12 months.

I would LOVE to not be 100% in $NBIS. Being in 1 stock makes you look and feel like a monkey gambler. Here's my problem: I want to invest in hypergrowth companies with highly profitable business models, recurring predictable revenues, strong moats, and highly aligned S-tier leadership. Being aware of the situation we're in, that very clearly means investing in a company that is vertically integrated and essentially correlates with inference growth over the next decade, but outperforms peers with world-class execution and product obsession. I've looked at so many companies, but the only "inference provider" play that is public and meets all those requirements right now is Nebius. There's not a single other company that I could research and afterwards see as even comparable to $NBIS. Many other data center providers currently trade at comparable numbers and people do weird stuff like compare who has how much contracted power. As if stock price is a result of purely contracted power. I think stock price is a result of market + team. The market (in this case inference growth) is essentially defining the possibilities, but the team will then build the product, which will create good or bad numbers, which lead to an increasing or decreasing stock price. Comparing stocks purely on metrics like P/S, EBIT multiples or other external valuations completely misses the fact that the underlying quality can lead to a 1'000x+ difference in results. To me it feels like comparing 1 ton of poop with 1 ton of gold and saying they are both 1 ton, so should have the same value. Wrong metric. But it doesn't stop with me seeing Nebius as the clearest winner in the space, it's the combination with the fact that almost all AI-related companies are already super expensive, while I still see Nebius as ridiculously underpriced and growing many hundreds of % over the next few years. So long story short: I would LOVE to diversify. Usually, I have max 20%, rarely 30-50% in one position. But comparing my opportunities, I just can't sell a stock I think will for sure multiply 3–5x in not too much time for stocks that I think could double, but with multiple significantly higher risks.

🚨JUST IN: $NBIS ROVIDA Investment has released 13F adding NEBIUS again with 453K (+26.2%). Total 2.19M ✅ shares or $246.19M Top #12 Inst 🐳🐳 Rest of Top 10 will release today & tomorrow