People who bought $NBIS at $230+ keep asking me whether it's a buy at current prices. My view hasn't changed. Nothing materially negative has happened to the business. In fact, we received confirmation of a $1B+ deal with Reflection AI, which should also be higher margins than typical hyperscaler contracts. If your thesis was valid at $230+, you have to ask yourself what has fundamentally changed. So far, I don't see anything that weakens the long-term story. $NBIS represents 80%+ of my portfolio as of today.
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