Nebius: Why The Consolidation Is A Massive Gift

2026-03-10 08:56:04 ET

It's Not Too Late To Buy NBIS Stock

Nebius Group N.V. ( NBIS ) has grown from its mid-$30s (when I first called it a "Strong Buy" ) to the mid-$130s in less than a year, and then the price action cooled off - NBIS started to correct as the market began to assess the firm's balance sheet strength amid the upcoming CAPEX and extensive business expansion. The market's attention seems to be shifting from neoclouds to memory/photonics names such as Micron ( MU ), Applied Optoelectronics ( AAOI ), and AXT Inc. ( AXTI ), which are experiencing continued capital injections. NBIS and its peers are quietly building the capacity they promised to build, and the market's excitement seems to be fading for now until these neoclouds show what they've finally got. This is my main interpretation of why NBIS (and most of the names in the niche) is going through a prolonged consolidation lately....

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