Offshore
Photo
App Economy Insights
$WMT Walmart Q3 FY26 (October quarter):
• Revenue +6% Y/Y to $179.5B ($4.3B beat).
• Non-GAAP EPS $0.62 ($0.02 beat).
• Walmart US comp sales +4.5%.
• E-commerce +27% Y/Y.
• Advertising +53% Y/Y.
FY26 Net sales growth outlook:
• +4.8% to 5.1% Y/Y (0.7pp raise). https://t.co/H2cDA4uWo0
tweet
$WMT Walmart Q3 FY26 (October quarter):
• Revenue +6% Y/Y to $179.5B ($4.3B beat).
• Non-GAAP EPS $0.62 ($0.02 beat).
• Walmart US comp sales +4.5%.
• E-commerce +27% Y/Y.
• Advertising +53% Y/Y.
FY26 Net sales growth outlook:
• +4.8% to 5.1% Y/Y (0.7pp raise). https://t.co/H2cDA4uWo0
tweet
Offshore
Photo
Dimitry Nakhla | Babylon Capital®
A quality valuation analysis on $AMZN 🧘🏽♂️
•NTM P/OCF Ratio: 13.09x
•5-Year Mean: 22.10x
•NTM FCF Yield: 1.37%
•5-Year Mean: 2.57%
As you can see, $AMZN appears to be slightly undervalued using P/OCF
Going forward, investors can expect to receive ~68% MORE in operating cash flow & ~47% LESS in FCF per share🧠***
Before we get into valuation, let’s take a look at why $AMZN is a quality business
BALANCE SHEET✅
•Cash & Equivalents: $94.19B
•Long-Term Debt: $57.94B
$AMZN has an excellent balance sheet, an AA S&P Credit Rating & 60x FFO Interest Coverage Ratio
RETURN ON CAPITAL🆗 / ✅
•2020: 11.6%
•2021: 8.9%
•2022: 4.2%
•2023: 10.1%
•2024: 15.5%
•LTM: 14.8%
RETURN ON EQUITY✅
•2020: 27.4%
•2021: 28.8%
•2022: (1.9%)
•2023: 17.5%
•2024: 24.3%
•LTM: 24.3%
$AMZN has good return metrics, highlighting the financial efficiency of the business
REVENUES✅
•2020: $386.06B
•2025E: $714.47B
•CAGR: 13.10%
FREE CASH FLOW🆗*
•2020: $31.02B
•2025E: $21.17B
•CAGR: (7%)
*$76.15B 2027 FCF estimate (elevated near-term CapEx temporarily suppressing FCF, setting the stage for a strong rebound)
NORMALIZED EPS✅
•2020: $2.09
•2025E: $7.07
•CAGR: 27.60%
SHARE BUYBACKS❌
•2020 Shares Outstanding: 10.20B
•LTM Shares Outstanding: 10.80B
MARGINS🆗➡️✅
•LTM Gross Margins: 50.0%
•LTM Operating Margins: 11.4%
•LTM Net Income Margins: 11.1%
*Important for $AMZN to continue expanding margins & increase profitability
***NOW TO VALUATION 🧠
As stated above, investors can expect to receive ~68% MORE in OCF & ~47% LESS in FCF per share
We’re using P/OCF instead of P/E as historical data reveals a stronger correlation between AMZN's share price and Operating Cash Flow (OCF)
Today, analysts anticipate aggressive OCF (per share) growth between 2025 - 2027:
2025E: $13.01 (20% YoY) *FY Dec
2026E: $17.03 (31% YoY)
2027E: $20.90 (23% YoY)
$AMZN has a decent track record of meeting analyst estimates ~2 years out, so let’s assume $AMZN ends 2027 with $20.90 in OCF per share & see its CAGR potential assuming different multiples (photos attached below also include these CAGR estimates):
17x P/OCF: $355💵 … ~24% CAGR
16x P/OCF: $334💵 … ~21% CAGR
15x P/OCF: $313💵 … ~17% CAGR
14x P/OCF: $292💵 … ~14% CAGR
As you can see, $AMZN appears to have strong double-digit CAGR potential if we assume ~15x P/OCF, a multiple that’s justified given its growth rate & below its historical average
Keep in mind ~15x P/OCF has historically marked the floor and lower boundary for $AMZN
AWS & Amazon Ads will continue to drive growth & profitability. In $AMZN LTM:
☁️AWS revenue: $121.93B
📈Ads revenue: $64.61B
Combined, these segments generated $186.54 net revenue … with ~37% Operating Income Margin
Today at $227💵 $AMZN appears to be a good consideration for investment
#stocks #investing
Data: TIKR
Graphs: FAST Graphs
___
𝐃𝐈𝐒𝐂𝐋𝐎𝐒𝐔𝐑𝐄‼️
𝐓𝐡𝐢𝐬 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐢𝐬 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐟𝐨𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐝 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐮𝐫𝐩𝐨𝐬𝐞𝐬 𝐨𝐧𝐥𝐲 𝐚𝐧𝐝 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐜𝐨𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐝𝐯𝐢𝐜𝐞, 𝐚𝐧 𝐨𝐟𝐟𝐞𝐫, 𝐨𝐫 𝐚 𝐬𝐨𝐥𝐢𝐜𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐛𝐮𝐲 𝐨𝐫 𝐬𝐞𝐥𝐥 𝐚𝐧𝐲 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲.
𝐁𝐚𝐛𝐲𝐥𝐨𝐧 𝐂𝐚𝐩𝐢𝐭𝐚𝐥® 𝐚𝐧𝐝 𝐢𝐭𝐬 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐯𝐞𝐬 𝐦𝐚𝐲 𝐡𝐨𝐥𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝. 𝐀𝐧𝐲 𝐨𝐩𝐢𝐧𝐢𝐨𝐧𝐬 𝐞𝐱𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐚𝐫𝐞 𝐚𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐚𝐭𝐞 𝐨𝐟 𝐩𝐮𝐛𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐜𝐡𝐚𝐧𝐠𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐧𝐨𝐭𝐢𝐜𝐞.
𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐨𝐛𝐭𝐚𝐢𝐧𝐞𝐝 𝐟𝐫𝐨𝐦 𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐥𝐢𝐚𝐛𝐥𝐞 𝐛𝐮𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞𝐝 𝐚𝐬 𝐭𝐨 𝐚𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝐨𝐫 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐧𝐞𝐬𝐬. 𝐏𝐚𝐬𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬. tweet
A quality valuation analysis on $AMZN 🧘🏽♂️
•NTM P/OCF Ratio: 13.09x
•5-Year Mean: 22.10x
•NTM FCF Yield: 1.37%
•5-Year Mean: 2.57%
As you can see, $AMZN appears to be slightly undervalued using P/OCF
Going forward, investors can expect to receive ~68% MORE in operating cash flow & ~47% LESS in FCF per share🧠***
Before we get into valuation, let’s take a look at why $AMZN is a quality business
BALANCE SHEET✅
•Cash & Equivalents: $94.19B
•Long-Term Debt: $57.94B
$AMZN has an excellent balance sheet, an AA S&P Credit Rating & 60x FFO Interest Coverage Ratio
RETURN ON CAPITAL🆗 / ✅
•2020: 11.6%
•2021: 8.9%
•2022: 4.2%
•2023: 10.1%
•2024: 15.5%
•LTM: 14.8%
RETURN ON EQUITY✅
•2020: 27.4%
•2021: 28.8%
•2022: (1.9%)
•2023: 17.5%
•2024: 24.3%
•LTM: 24.3%
$AMZN has good return metrics, highlighting the financial efficiency of the business
REVENUES✅
•2020: $386.06B
•2025E: $714.47B
•CAGR: 13.10%
FREE CASH FLOW🆗*
•2020: $31.02B
•2025E: $21.17B
•CAGR: (7%)
*$76.15B 2027 FCF estimate (elevated near-term CapEx temporarily suppressing FCF, setting the stage for a strong rebound)
NORMALIZED EPS✅
•2020: $2.09
•2025E: $7.07
•CAGR: 27.60%
SHARE BUYBACKS❌
•2020 Shares Outstanding: 10.20B
•LTM Shares Outstanding: 10.80B
MARGINS🆗➡️✅
•LTM Gross Margins: 50.0%
•LTM Operating Margins: 11.4%
•LTM Net Income Margins: 11.1%
*Important for $AMZN to continue expanding margins & increase profitability
***NOW TO VALUATION 🧠
As stated above, investors can expect to receive ~68% MORE in OCF & ~47% LESS in FCF per share
We’re using P/OCF instead of P/E as historical data reveals a stronger correlation between AMZN's share price and Operating Cash Flow (OCF)
Today, analysts anticipate aggressive OCF (per share) growth between 2025 - 2027:
2025E: $13.01 (20% YoY) *FY Dec
2026E: $17.03 (31% YoY)
2027E: $20.90 (23% YoY)
$AMZN has a decent track record of meeting analyst estimates ~2 years out, so let’s assume $AMZN ends 2027 with $20.90 in OCF per share & see its CAGR potential assuming different multiples (photos attached below also include these CAGR estimates):
17x P/OCF: $355💵 … ~24% CAGR
16x P/OCF: $334💵 … ~21% CAGR
15x P/OCF: $313💵 … ~17% CAGR
14x P/OCF: $292💵 … ~14% CAGR
As you can see, $AMZN appears to have strong double-digit CAGR potential if we assume ~15x P/OCF, a multiple that’s justified given its growth rate & below its historical average
Keep in mind ~15x P/OCF has historically marked the floor and lower boundary for $AMZN
AWS & Amazon Ads will continue to drive growth & profitability. In $AMZN LTM:
☁️AWS revenue: $121.93B
📈Ads revenue: $64.61B
Combined, these segments generated $186.54 net revenue … with ~37% Operating Income Margin
Today at $227💵 $AMZN appears to be a good consideration for investment
#stocks #investing
Data: TIKR
Graphs: FAST Graphs
___
𝐃𝐈𝐒𝐂𝐋𝐎𝐒𝐔𝐑𝐄‼️
𝐓𝐡𝐢𝐬 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐢𝐬 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐟𝐨𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐝 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐮𝐫𝐩𝐨𝐬𝐞𝐬 𝐨𝐧𝐥𝐲 𝐚𝐧𝐝 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐜𝐨𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐝𝐯𝐢𝐜𝐞, 𝐚𝐧 𝐨𝐟𝐟𝐞𝐫, 𝐨𝐫 𝐚 𝐬𝐨𝐥𝐢𝐜𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐛𝐮𝐲 𝐨𝐫 𝐬𝐞𝐥𝐥 𝐚𝐧𝐲 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲.
𝐁𝐚𝐛𝐲𝐥𝐨𝐧 𝐂𝐚𝐩𝐢𝐭𝐚𝐥® 𝐚𝐧𝐝 𝐢𝐭𝐬 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐯𝐞𝐬 𝐦𝐚𝐲 𝐡𝐨𝐥𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝. 𝐀𝐧𝐲 𝐨𝐩𝐢𝐧𝐢𝐨𝐧𝐬 𝐞𝐱𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐚𝐫𝐞 𝐚𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐚𝐭𝐞 𝐨𝐟 𝐩𝐮𝐛𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐜𝐡𝐚𝐧𝐠𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐧𝐨𝐭𝐢𝐜𝐞.
𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐨𝐛𝐭𝐚𝐢𝐧𝐞𝐝 𝐟𝐫𝐨𝐦 𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐥𝐢𝐚𝐛𝐥𝐞 𝐛𝐮𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞𝐝 𝐚𝐬 𝐭𝐨 𝐚𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝐨𝐫 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐧𝐞𝐬𝐬. 𝐏𝐚𝐬𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬. tweet
Offshore
Photo
EndGame Macro
The Headline Says 119K Jobs. The Body Says the Economy’s Losing Lift.
Once you read this report instead of treating the headline like the whole story, the optimism fades fast. The gains are narrow, the revisions cut the wrong way, and most of the signals that should strengthen in a solid labor market are either stalling or slipping.
A Labor Market That’s Moving, But Not Moving Forward
The thinness of the job growth jumps out immediately. Payrolls rose by 119k, but the BLS openly says employment has shown “little change since April.” The three month average sits at just 62k barely enough to maintain appearances. And the revisions are the real tell…July and August were revised down by 33k, with August turning slightly negative. That’s textbook late cycle behavior.
The unemployment rate nudged up to 4.4%, but the details matter more than the number. There are now 7.6 million unemployed, higher than a year ago, and the employment population ratio has slipped, a quiet sign job creation isn’t keeping up with population growth. Long term unemployment is stuck around 1.8 million, nearly a quarter of all unemployed. In a healthy cycle, that number falls. Here, it’s not.
The Only Sectors Growing Are the Ones That Grow No Matter What
A broad, confident economy adds jobs across industries. That isn’t what’s happening.
Most of September’s gains came from the same dependable trio…
•Health care (+43k)
•Food services (+37k)
•Social assistance (+14k)
These sectors grow because people age, kids need care, and public funding keeps flowing not because demand is booming.
Meanwhile, the cyclical heart of the labor market is shrinking…
•Transportation & warehousing (–25k)
•Manufacturing (–6k)
•Temporary help (–15.9k)
•Professional & business services (–20k)
These are the canaries. Temp work especially, firms cut it when they’re uneasy about the road ahead. The data is showing that unease.
People Aren’t Working More And They’re Stretching to Keep Up
If this were genuinely a strong labor market, hours would be rising and firms would be squeezing overtime before hiring more workers. Instead, hours are stuck at 34.2. Manufacturing overtime hasn’t budged. Involuntary part time work is still near 4.6 million. Multiple jobholding is up to 8.8 million. This doesn’t look like prosperity, it looks like people filling income gaps any way they can.
Wage growth isn’t telling a different story. A 0.2% monthly gain barely touches rising living costs, especially in housing, insurance, and services. This isn’t tight market wage pressure; it’s paycheck to paycheck survival.
The Weakness Is Spreading Into the Core
The slowdown isn’t limited to marginal workers, it’s broadening into groups that usually hold up longer…
•Asian unemployment jumped from 3.6% to 4.4%.
•Black unemployment is stuck at 7.5%.
•College educated unemployment climbed to 2.8%.
•Youth unemployment for ages 20–24 hit 9.2%.
These are stress fractures appearing in the center of the labor force.
And 5.9 million people say they want a job but aren’t counted as unemployed because they didn’t look recently. In a strong cycle, this pool shrinks. Here, it’s not.
Add It All Up, and the Story Doesn’t Match the Headline
Nothing in this report signals collapse but very little signals strength. The surface looks fine, but underneath you see…
•Slowing job creation
•Negative revisions
•Weak cyclical industries
•Persistent underemployment
•Stagnant participation
•Soft wages
•Rising strain across demographic groups
If you ignored the headline and only read the internals, you wouldn’t call this a strong economy. You’d call it what it is…a late cycle labor market losing altitude while the headline tries to steady the narrative.
tweet
The Headline Says 119K Jobs. The Body Says the Economy’s Losing Lift.
Once you read this report instead of treating the headline like the whole story, the optimism fades fast. The gains are narrow, the revisions cut the wrong way, and most of the signals that should strengthen in a solid labor market are either stalling or slipping.
A Labor Market That’s Moving, But Not Moving Forward
The thinness of the job growth jumps out immediately. Payrolls rose by 119k, but the BLS openly says employment has shown “little change since April.” The three month average sits at just 62k barely enough to maintain appearances. And the revisions are the real tell…July and August were revised down by 33k, with August turning slightly negative. That’s textbook late cycle behavior.
The unemployment rate nudged up to 4.4%, but the details matter more than the number. There are now 7.6 million unemployed, higher than a year ago, and the employment population ratio has slipped, a quiet sign job creation isn’t keeping up with population growth. Long term unemployment is stuck around 1.8 million, nearly a quarter of all unemployed. In a healthy cycle, that number falls. Here, it’s not.
The Only Sectors Growing Are the Ones That Grow No Matter What
A broad, confident economy adds jobs across industries. That isn’t what’s happening.
Most of September’s gains came from the same dependable trio…
•Health care (+43k)
•Food services (+37k)
•Social assistance (+14k)
These sectors grow because people age, kids need care, and public funding keeps flowing not because demand is booming.
Meanwhile, the cyclical heart of the labor market is shrinking…
•Transportation & warehousing (–25k)
•Manufacturing (–6k)
•Temporary help (–15.9k)
•Professional & business services (–20k)
These are the canaries. Temp work especially, firms cut it when they’re uneasy about the road ahead. The data is showing that unease.
People Aren’t Working More And They’re Stretching to Keep Up
If this were genuinely a strong labor market, hours would be rising and firms would be squeezing overtime before hiring more workers. Instead, hours are stuck at 34.2. Manufacturing overtime hasn’t budged. Involuntary part time work is still near 4.6 million. Multiple jobholding is up to 8.8 million. This doesn’t look like prosperity, it looks like people filling income gaps any way they can.
Wage growth isn’t telling a different story. A 0.2% monthly gain barely touches rising living costs, especially in housing, insurance, and services. This isn’t tight market wage pressure; it’s paycheck to paycheck survival.
The Weakness Is Spreading Into the Core
The slowdown isn’t limited to marginal workers, it’s broadening into groups that usually hold up longer…
•Asian unemployment jumped from 3.6% to 4.4%.
•Black unemployment is stuck at 7.5%.
•College educated unemployment climbed to 2.8%.
•Youth unemployment for ages 20–24 hit 9.2%.
These are stress fractures appearing in the center of the labor force.
And 5.9 million people say they want a job but aren’t counted as unemployed because they didn’t look recently. In a strong cycle, this pool shrinks. Here, it’s not.
Add It All Up, and the Story Doesn’t Match the Headline
Nothing in this report signals collapse but very little signals strength. The surface looks fine, but underneath you see…
•Slowing job creation
•Negative revisions
•Weak cyclical industries
•Persistent underemployment
•Stagnant participation
•Soft wages
•Rising strain across demographic groups
If you ignored the headline and only read the internals, you wouldn’t call this a strong economy. You’d call it what it is…a late cycle labor market losing altitude while the headline tries to steady the narrative.
tweet
Offshore
Photo
WealthyReadings
$NBIS is one of the most interesting AI infrastructure plays on the market, involved across multiple verticals.
Here’s why 👇
🔷 Providing highly efficient compute at competitive prices.
🔷 Serving hyperscalers, start-ups and enterprises with hyperscaler-level compute quality.
🔷 Own and operates data centers all around the world.
🔷 Operating in one of the fastest-growing sectors with massive demand.
🔷 Very rapid ARR growth driven by insatiable compute needs.
🔷 Active in autonomous vehicles and tech education through its subsidiaries.
🔷 Involved in cutting-edge data technologies through equity stakes in ClickHouse and Toloka.
🔷 Valuation reflects execution risk, not full long-term potential.
The bear case?
🔷 Highly competitive industry with major cloud providers and neoclouds, even if Nebius offers hyperscaler-grade compute at better pricing.
🔷 Large capex requirements, long scaling cycles, and the risk of overbuilding capacity — amplified by hyperscalers shifting risk downstream.
🔷 Execution needs to remain flawless to compete long term in the AI ecosystem.
You'll find more details in the full breakdown below, but one conclusion stands: $NBIS is building competitive AI infrastructure at a time when demand is exploding, with pricing and performance that directly challenge hyperscalers.
Question is, how long before the market recognizes the scale of the opportunity?
tweet
$NBIS is one of the most interesting AI infrastructure plays on the market, involved across multiple verticals.
Here’s why 👇
🔷 Providing highly efficient compute at competitive prices.
🔷 Serving hyperscalers, start-ups and enterprises with hyperscaler-level compute quality.
🔷 Own and operates data centers all around the world.
🔷 Operating in one of the fastest-growing sectors with massive demand.
🔷 Very rapid ARR growth driven by insatiable compute needs.
🔷 Active in autonomous vehicles and tech education through its subsidiaries.
🔷 Involved in cutting-edge data technologies through equity stakes in ClickHouse and Toloka.
🔷 Valuation reflects execution risk, not full long-term potential.
The bear case?
🔷 Highly competitive industry with major cloud providers and neoclouds, even if Nebius offers hyperscaler-grade compute at better pricing.
🔷 Large capex requirements, long scaling cycles, and the risk of overbuilding capacity — amplified by hyperscalers shifting risk downstream.
🔷 Execution needs to remain flawless to compete long term in the AI ecosystem.
You'll find more details in the full breakdown below, but one conclusion stands: $NBIS is building competitive AI infrastructure at a time when demand is exploding, with pricing and performance that directly challenge hyperscalers.
Question is, how long before the market recognizes the scale of the opportunity?
tweet
Offshore
Photo
Clark Square Capital
RT @deusexdividend: Cancel the pterodactyl, get me the biggest T-Rex money can buy https://t.co/Ra8L5Y2Xza
tweet
RT @deusexdividend: Cancel the pterodactyl, get me the biggest T-Rex money can buy https://t.co/Ra8L5Y2Xza
$NVDA @agnostoxxx 🦕🦖🦕🦖🤪🥳🤑 https://t.co/rUmbXjSXRo tweet
Offshore
Video
Quiver Quantitative
JUST IN: President Trump has said that this video by Democratic lawmakers is seditious and punishable by death. https://t.co/MQx4iUeEHo
tweet
JUST IN: President Trump has said that this video by Democratic lawmakers is seditious and punishable by death. https://t.co/MQx4iUeEHo
tweet
Offshore
Photo
EndGame Macro
RT @DiMartinoBooth: "Like all good economists in order to read through these minutes we need 3 hands…No Fed Chair in history has the network of CEOs that Powell has. He doesn't need an industrials report to know what is going on in this economy…"
#fbn #federalreserve #powell #dimartinobooth #economy
https://t.co/fp2PeNKdh3
tweet
RT @DiMartinoBooth: "Like all good economists in order to read through these minutes we need 3 hands…No Fed Chair in history has the network of CEOs that Powell has. He doesn't need an industrials report to know what is going on in this economy…"
#fbn #federalreserve #powell #dimartinobooth #economy
https://t.co/fp2PeNKdh3
tweet
Offshore
Video
Quiver Quantitative
Two months ago, Eric Trump said that he thought Q4 would be unbelievable for crypto
$BTC has now fallen almost 25% since then. https://t.co/onndgZOxR2
tweet
Two months ago, Eric Trump said that he thought Q4 would be unbelievable for crypto
$BTC has now fallen almost 25% since then. https://t.co/onndgZOxR2
tweet