$NBIS
nebius group9/10Does he own it?
Strong first-person ownership evidence: a Feb portfolio breakdown lists it at 10% (datacenter sleeve); he repeatedly says he margined in on the selloff, went long last year, calls it a "core long," and in June explicitly discloses financial interest in NBIS among a few names. Not just coverage.
His thesis
NBIS is his favorite Neocloud and a future AWS-scale hyperscaler, valued as a sum-of-parts story (AI cloud plus ClickHouse, Avride robotaxi, Toloka, TripleTen). He argues superior financing (Nvidia direct funding, convertibles) versus rivals' dilutive ATMs or heavy debt makes it the clear sector winner. Catalysts cited: Nvidia stake, large Meta/Microsoft backlog, strong ARR/margin guidance, and a major Q4 2026 revenue ramp as capex converts to recognized revenue.
How his view evolved
Began as a high-conviction held thesis through a painful Dec/Jan drawdown he admits mistiming; conviction held, and from March onward (Nvidia stake, Meta deal, earnings beat) the thesis validated as the stock roughly tripled, shifting his tone to victory laps.
Key points
- Explicit 10% portfolio weight plus repeated first-person long/margined-in disclosures
- Framed as the best-financed Neocloud versus dilutive IREN and debt-laden CRWV
- Sum-of-parts plus next-hyperscaler thesis, validated by Nvidia/Meta catalysts and ~3x run
Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $NBIS on X ↗