Added to YB: 2026-10-15
Pitch date: 2026-10-12
NBIS [neutral]
Nebius Group N.V.
-7.23%
current return
Author Info
In-depth analysis of tech companies, pre-IPO startups, and long-term investment themes. 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
$57.6B
Pitch Price
$200.50
Price Target
228.00 (+10%)
Dividend
N/A
EV/EBITDA
133.63
P/E
1.3K
EV/Sales
44.08
Sector
Software
Category
value
Nebius Watch #15: OpenAI’s real ARR, Firmus IPO cancellation and Nvidia’s bet on Reflection
NBIS (monitor): Nebius at $221 is close to the $228 fair-value estimate, leaving insufficient margin of safety given high sector multiples. It has no OpenAI exposure in its revenue backlog, but uncertainty over OpenAI’s growth and funding, alongside aggressive industry capacity additions, could weaken compute demand and pressure GPU rental pricing. Reflection AI’s $1B contract could expand if Beam performs well, but independent validation is still pending.
Read full article (12 min)