Nate Endicott Official

Learning about the markets since 2019 | First big win was $PLTR | Now 99% $NBIS. Always curious.

[Nate Endicott Official @NateInvestss]

“Creativity is intelligence having fun” - Albert Einstein

[Nate Endicott @EndicottInvests]

$NBIS is up 83.43% YTD but I still think the upside is just beginning.

Most investors would look at a stock that’s nearly doubled in six months and assume the easy gains are over.

I don’t.

I think Nebius is just getting started. This isn’t a story about chasing momentum. It’s a story about what happens when a company combines world-class engineering, customer obsession, capital discipline, and full-stack control, all aimed at solving the single biggest bottleneck in AI: infrastructure.

No debt. Over $1.4B in cash. Zero reliance on any one customer. And a founder who has built a multibillion-dollar platform before and is clearly doing it again.

Vertical integration done right

Nebius doesn’t rent space in someone else’s data center. It builds its own. The company designs custom racks in collaboration with NVIDIA. It owns and operates GPU-optimized, hyperscale data centers in Finland, Kansas City, and Iceland. A massive 300 MW facility in New Jersey is underway. A new site in Israel has just been greenlit.

All of it is purpose-built for AI workloads. Not general-purpose cloud. The result is structural cost and performance advantages. Better cooling. Faster deployment cycles. Tighter hardware-software integration. Energy efficiency on par with top-tier hyperscalers.

Most AI infrastructure providers are selling raw compute. Nebius is selling outcomes. The company offers everything from bare-metal GPU clusters to a complete AI cloud platform with integrated orchestration, inference-as-a-service, observability tooling, and API access to open-source models. Its AI Studio already serves over 60,000 developers. The cloud platform shipped nearly 50 software upgrades in Q1 alone. Kubernetes, Slurm, MLflow, DStack, SkyPilot. All supported. All optimized for AI workloads.

This is a software company disguised as a cloud platform. And that’s exactly what makes it so powerful. It starts with infrastructure. But the real moat is experience.

Execution is exceeding guidance

In their March call, management guided for $220M or more in ARR. They delivered $249M. In April, they hit $310M. For full-year 2025, guidance stands at $750M to $1B ARR. If current trends hold, that may prove conservative.

Revenue for Q1 came in at $55.3M. That may seem light, but it misses the bigger picture. ARR ramped hard during the quarter, and the timing of contract start dates muted revenue recognition. Profitability, however, showed clear progress. Adjusted EBITDA came in at negative $62.6M, ahead of expectations by over 30 percent. The core business is expected to be breakeven by Q3. Adjusted EBITDA will turn positive in the second half.

They are doing exactly what you want to see in a scaling infra business: ramping top line, managing burn, and delivering leverage, all while maintaining discipline.

Founder-led with full alignment

This is not another GPU reseller racing to undercut pricing. This is founder-led infrastructure execution.

Arkady Volozh built Yandex into a $30B tech ecosystem across search, cloud, e-commerce, and AI. He left the company over geopolitical reasons and brought hundreds of engineers with him. Now he’s building Nebius. And he’s all in. He owns a significant stake and has over 90 percent of his net worth tied to the company’s success.

hat alignment shows up in how they operate. Nebius is engineer-first, customer-centric, and focused on solving real bottlenecks with real infrastructure, not financial engineering.

You’re buying the whole ecosystem

And when you buy NBIS, you’re not just getting the AI cloud. You’re getting exposure to multiple high-upside bets.

Avride is their autonomous vehicle and delivery robotics platform. Already partnered with Uber, Grubhub, and Hyundai. Completing over 1,200 robot deliveries per day. A 100-vehicle fleet is launching by year-end. Management believes Avride is worth billions and is actively exploring third-party investment.

Toloka is their AI data labeling business, already working with Microsoft, Shopify, and Anthropic. It just secured strategic investment led by Bezos Expeditions. Revenue doubled year over year in Q1.

TripleTen is their EdTech and tech reskilling business, growing 144 percent year over year. It’s expanding across Latin America and now booking early B2B revenue.

And then there is ClickHouse. Nebius owns 28 percent of it. ClickHouse is currently raising at a $6B valuation. That makes their stake worth roughly $1.68B. If monetized, this could fund years of infrastructure expansion without touching the equity base.

Demand is just getting started

These aren’t side projects. These are strategic assets. Each could move the needle materially on value.

But the real story remains the core platform. GPU supply is constrained globally. Hyperscalers are hitting capacity limits. And demand for high-performance compute isn’t slowing. It’s compounding. Nebius is meeting that demand not with shortcuts, but with scale. They are actively deploying H200s, preparing for Blackwells, and building toward 100 MW of contracted capacity by the end of 2025.
They’re not just meeting demand. They’re ahead of it.

And the customers are coming in waves. Today it’s AI-native startups and model builders. Tomorrow it’s enterprises and frontier AI labs. Beyond that, it’s national-level AI infrastructure programs. Governments around the world are now funding their own AI initiatives and looking for sovereign compute providers. Very few companies are in position to serve them. Nebius is.

There are not many businesses in public markets with this level of control over their stack, this level of customer traction, this kind of financial position, and this kind of alignment at the top.

They are targeting 30 percent EBIT margins at scale. Adjusted EBITDA turns positive this year. Their GPU depreciation schedule is more conservative than peers like CoreWeave. They have committed to limiting dilution by leveraging their subsidiaries and investments for capital. And they have the firepower to do it. Between Avride and ClickHouse alone, there are billions in optional liquidity on the table.This is not a story of explosive revenue with no path to profitability. This is disciplined, full-stack cloud infrastructure execution with optionality everywhere you look.

And right now, it is still misunderstood.

I’m not here to guess what the stock does next week. But I am very confident that three years from now, most people will look back at this period and realize this was the inflection.

The infrastructure is being built. The contracts are being signed. The customers are scaling. The engineering team is delivering.

I will be opening a large position Monday.

[Nate Endicott @EndicottInvests]

$NBIS to $880 by 2029? My Nebius full valuation model.

I think I'm far more conservative than most here but I like to be surpirsed to the upside.

Check it out!
https://t.co/HhsFqwpWAo

[Nate Endicott @EndicottInvests]

$NBIS Vineland hearing tomorrow

As a long term bull i genuinely don’t care

Obviously in the near term the stock will get hammered if Vineland has to stop entirely

Nebius is slowly diversifying sites so by 2028 this will be a blip on the radar.

I will still be monitoring and it will definitely be a near term catalyst in either direction.

[Nate Endicott @EndicottInvests]

Two things very wrong here. $NBIS

1. Never value on an EBITDA basis. You’re literally taking out the most expensive part of the business lol.

2. The MW rate for 2030 is far too low.

At the end of the day it’s all fun and we’re genuinely shooting darts on a dartboard to guess what 2030 MW rate will be.

[Nate Endicott @EndicottInvests]

$SOFI @SoFi @anthonynoto

Why is the net worth in the app maxed at a year?

Genuinely makes 0 sense to me.

I would love to see how it’s progressed for the duration of banking on the platform.

I’ve been a member for 4+ years.

[Nate Endicott @EndicottInvests]

Man Q2 was seriously unreal $NBIS

We got so much more visibility and it completed flipped my bull case upside

[Nate Endicott @EndicottInvests]

Interesting take.

Don’t entirely agree but it definetly is an interesting thought and something I’ll be monitoring for awhile.

But if we can take out loans on a car (depreciating asset), I can see the value of GPU as an asset class

Will be interesting to see how this turns out over 10+ years. Right now it’s an obvious scenario as demand is insatiable.

[Nate Endicott @EndicottInvests]

What a match from Magnus ♟️

🐐 doing GOAT things.

[Nate Endicott @EndicottInvests]

Guess what?

It’s already live on $NBIS token factory too

[Nate Endicott @EndicottInvests]

Building wealth $100 at a time | Episode 33

$NBIS takes back the #1 position.

THEY CRUSHED EARNINGS

https://t.co/WZYHo4uLsy

[Nate Endicott @EndicottInvests]

My Public account, where I invest $100 weekly is performing great so far this year.

For those that don't know, when I have close family, cousins, friends ask me "How should I invest" Or "what should i invest in", I created this portfolio to show them.

As you know I'm essentially 100% $NBIS in my private accounts(Individual and ROTH) but I would never recommend that to anyone nor what I want to be followed.

I wanted to challenge myself and see if I could outperform the indices and be able to explain my thesis for holdings via Youtube.

I also wanted new investors to learn and understand that YES, YOU can beat the indices too. You do not need to be a hedge fund manager or have 30 years of experience.

I have been outperforming the indices since I started investing 7 years ago but wanted to now show it the world.

All for free. None of this behind a paywall BS.

So far, the account is up ~40% YTD. 3x the $SPY and 2x the $QQQ.

$NBIS & $ZETA make up 60% of the portfolio and I'm still holding strong.

If you want to follow along or just for some weekend entertainment as i post every Saturday morning, channel is below!

[Nate Endicott @EndicottInvests]

$NBIS: Daniel is a little more bullish than me here but I agree with the general direction

My thought is that the absolute floor for ARR is $25B for 2027 and we’re more likely to see something in the 30s.

[Nate Endicott @EndicottInvests]

I was told all of $NBIS data centers would shut down.

Weird.

[Nate Endicott @EndicottInvests]

$ZETA is at the highest P/S in over a year and a half

Finally got the re-rating it deserved.

[Nate Endicott @EndicottInvests]

$NBIS at a $100B market cap is $397 a share

I think we see a $100B market cap within the next 2 quarters.

[Nate Endicott @EndicottInvests]

HOW DID I NOT SEE THIS LOLLLL

WHAT!!??

$NBIS $NVDA

[Nate Endicott @EndicottInvests]

Okay FINE Mr. Market $NBIS

I rolled to $340 for next week

Oh well, good problem to have

[Nate Endicott @EndicottInvests]

Okay I think I’m actually getting taunted $NBIS

This is hilarious

It’s gone ITM & OTM like 45 times today 😂😂😂