Added to YB: 2026-09-25
Pitch date: 2026-09-22
NBIS [neutral]
Nebius Group N.V.
+3.54%
current return
Author Info
Outlier Capital is where I share my highest-conviction ideas, portfolio updates, and investment research. Sign up for the newsletter.
Company Info
Nebius Group N.V., a technology company, engages in building full-stack infrastructure to service the global AI industry in the United States, the United Kingdom, and internationally.
Market Cap
$64.7B
Pitch Price
$235.16
Price Target
1.2K (+385%)
Dividend
N/A
EV/EBITDA
149.61
P/E
1.4K
EV/Sales
49.35
Sector
Software
Category
growth
NeoCloud Thesis: The Best Players, How They Make Money, and Their Path to 5x - Nebius Group N.V.
NBIS (overview): Nebius is the cleanest AI-cloud story on the tape, selling clusters and cloud software to Microsoft and Meta, which are described as anchors; adjusted EBITDA has already printed. However, the premium assumes the software attach works and the Meta structure converts, while the $20–25B capex plan creates a real funding gap and makes another raise part of the model. A 5x valuation in five years is possible but assigned only ~30% probability and is not the base case.
Read full article (1 min)