Nebius: hypergrowth AI cloud, hyperscale funding needs
Revenue up 684%, a $27B Meta agreement and $9B of cash — yet the stock lost a third of its value in two weeks on a single Bloomberg headline. Our full breakdown of the fastest-scaling neocloud: what the Microsoft and Meta contracts are really worth, where the GPU depreciation math gets honest, and the strikes where we would genuinely take assignment.
YieldCove Research Desk
7 min read
The verdict
Members only- Wheel fit
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- CSP entry zone
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- Fair value
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Nebius Group is the Amsterdam-headquartered "neocloud" that emerged from Yandex N.V.'s 2024 split: the Russian assets were sold, the European data-center and engineering teams stayed, and the stock re-listed on Nasdaq in October 2024. The core business — roughly 98% of Q1 2026 group revenue…
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