$NBIS (Nebius) currently has a market cap of $45 billion.. stock is down -40% from the all time highs. Looking at sell side estimates... consensus is $45 billion of revenues in CY2030. In my base case model I'm currently at $47.5 billion revenues in CY2030 with my bull case model at $55 billion revenues in CY2030... both models with ~20% EBIT margins in CY2030 (sell side is at ~24%) When I started buying $NBIS last year in the $20s and $30s, my long term thesis wasn't just about being a leading neocloud, it was also about their stakes in Clickhouse, AVride, Toloka and TripleTen. Clickhouse is an open-source database management system. AVride is a leading developer in autonomous cars and robots. Toloka provides data labeling for ai models, similar to what ScaleAI does. TripleTen provi
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