Nebius: Minutes Of Our Call With The Company

Summary

• Nebius is positioned as a major AI megatrend winner, with strong engineering strengths and significant demand for its GPU and AI services.
• The company is experiencing high demand, with GPU capacity fully sold out and additional services expected to grow, targeting 30% EBIT margins.
• Nebius focuses on the entire AI ecosystem, offering additional services and developing a superior AI cloud, with plans to expand data centers and secure long-term contracts.
• The CoreWeave IPO syndicate included 18 top Wall Street banks. The blackout period ends on May 1. Extensive research reports on the sector, bullish for Nebius, should be published in May.
• We had an opportunity to talk to Nebius. Below are our takeaways from the conversation.