Crypto Fergani {Private} ✪

Long-term investor. BSc in Economics, MSc in Finance. Equity Analyst with a focus on Fundamental Analysis and Valuation. Not a financial advisor.

[Crypto Fergani {Private} ✪ @Cryptosfergaini]

One of the few times i agree with Simon!! There’s absolutely no reason to not shake his hands he’s not been proven guilty, djed spence just wants to trend cuz who in the world is a djed spence if not that tuchel is a cluessless dickhead

[talkSPORT @talkSPORT]

🤝"Shake his hand!"

Simon Jordan suggests that the England players should shake Thomas Partey's hand!

[M. V. Cunha @mvcinvesting]

A few days ago, I came across a very interesting AI healthcare stock that no one is talking about here.

I’m really enjoying researching it.

Deep Dive coming soon.

[M. V. Cunha @mvcinvesting]

It was $CLPT.

Now up ~34%.

[M. V. Cunha @mvcinvesting]

$NBIS

🚨 OpenAI's usage of ClickHouse has reportedly jumped 10x over the past year, as the company increasingly relies on it for large-scale logging, monitoring, and AI workloads.

CEO Aaron Katz said gross margins are around 50-70% and that ClickHouse could become cash-flow positive next year if it chose to. Instead, management plans to keep investing aggressively in growth.

[M. V. Cunha @mvcinvesting]

🚨 JUST IN: ClickHouse has surpassed $350M in ARR, fueled by surging demand from AI agents.

Source: The Information

$NBIS

[M. V. Cunha @mvcinvesting]

It's now clear that $NBIS is targeting Austria for new data center deployments in Europe.

Peter Morley, Head of Communications at Nebius, just left this comment on a post from AI Austria discussing the country's AI ecosystem.

The post followed a podcast episode with Peter Hanke, Austria's Federal Minister for Innovation, Mobility and Infrastructure.

[M. V. Cunha @mvcinvesting]

NVIDIA today announced that Groq 3 LPX, its interactive AI inference accelerator, is now in full production.

$NBIS was named as the first AI cloud to adopt.

Groq 3 LPX extends NVIDIA's Vera Rubin platform and is built for ultrafast token generation, targeting agentic AI workloads where latency matters.

In Artificial Analysis benchmarking, it reached a record 3,400 output tokens per second running Gemma 4 31B with a 100K-token context, while NVIDIA says it can deliver 4x faster responsiveness for agents and latency-sensitive workloads vs. the nearest alternative platform.

Nebius plans to bring Groq 3 LPX to Nebius Token Factory, giving developers access to the accelerator through its production inference platform and existing API.

[M. V. Cunha @mvcinvesting]

Base44, owned by $WIX, just hit $200M ARR, five months after reaching $100M.

I was told $WIX was going to die soon. Apparently, it was a certainty.

Less than two months later, it’s up 100% from the bottom.

Still a long way to go, but that doesn’t make it any less funny.

[M. V. Cunha @mvcinvesting]

$NBIS

Avride is significantly expanding its autonomous delivery robot operations across U.S. college campuses.

By September, the company expects to have more than 1,000 active delivery robots operating across 25+ campuses, with a potential reach of more than 610,000 students. That would represent roughly 4.5x its previous campus footprint.

Avride has already launched on 10 additional campuses this semester, with another 11 expected to go live by the end of September.

The expansion is being supported by agreements with the three largest university dining-service providers in the U.S., whose combined networks span around 1,000 colleges and universities.

[M. V. Cunha @mvcinvesting]

Priced, and upsized to $5B. ✅

$3B of 0.5% notes due 2030
Conversion price $313.46, a 40% premium

$2B of 4.5% notes due 2034
Conversion price $324.65, a 45% premium

Option for an additional $750M

If every note converts, that's 15.7M new Class A shares. Against 271.9M outstanding, 5.8% dilution, or 6.7% if the initial purchasers take the full option (likely).

The amount owed accretes on a fixed schedule: every $1,000 borrowed becomes $1,100 on the 2030s and $1,250 on the 2034s. So $5B borrowed becomes $5.8B owed at maturity. But interest is calculated only on the original principal, meaning annual cash interest is just $105M. The accretion still flows through interest expense as a non-cash charge, so reported interest expense from the deal will be roughly $250M a year while only $105M actually leaves the bank.

Important: the accretion is only paid if the notes are repaid in cash. If holders convert, they give it up. That pushes the effective breakeven conversion price at maturity to roughly $345 for the 2030s and $406 for the 2034s.

Separately, $800M of the 2029 and 2031 notes (issued back in June 2025) were exchanged for ~15.8M shares. Those notes convert at $51.45, so they stopped being debt long ago and have been sitting in the diluted count for a year. At that conversion rate, $800M was always going to become ~15.5M shares. The cost is the gap, roughly 250k shares, or about $56M, in return for holders giving up the paper years early. For that, Nebius kills $20M a year of coupons, kills the accretion drag running through interest expense, and removes the tail risk of that principal ever coming due in cash. That's a good trade.

Dilution has never been the open question here. The real question is how that capital gets deployed, and the latest earnings only reinforced the continued improvement in unit economics.

Overall, I'm happy with the terms.

[M. V. Cunha @mvcinvesting]

$NBIS announces proposed private offering of $4.5B of convertible senior notes.

• $2.75B of notes due 2030
• $1.75B of notes due 2034
• Potential for an additional $675M

Key terms, including the interest rates and conversion prices, will be determined at pricing.

[M. V. Cunha @mvcinvesting]

DA Davidson raised its PT on $NBIS from $175 to $250.

[M. V. Cunha @mvcinvesting]

Vineland Planning Board approves $NBIS' site plan.

Just like management told us would happen last week.

Let them cook.

[M. V. Cunha @mvcinvesting]

Isn’t it hilarious that just a month ago, some investors were freaking out over a misleading headline claiming $META had “excess AI compute”?

[M. V. Cunha @mvcinvesting]

16 months later, Higgsfield AI has gone from $0 to $700M in ARR, scaling with $NBIS from day one.

The company just raised $400M at a $5.4B valuation.

Pretty amazing to have followed this journey literally from the beginning.

Hats off to Alex and the team!

[M. V. Cunha @mvcinvesting]

Just noticed my articles have already crossed 1M+ views YTD, and we're still only in August.

Pretty surreal.

I'm really grateful for how much my life has changed over the past couple of years.

Onwards! 🥂

[M. V. Cunha @mvcinvesting]

My earnings season is officially over.

Just two reviews left: $HROW, which should be out within the next hour, and $DLO, which should be published tomorrow.

I’m definitely in need of a relaxing weekend...

[M. V. Cunha @mvcinvesting]

Pedro Arnt became sole CEO of $DLO in March 2024.

From day one, he made it clear he wasn’t focused on short-term optics, but on optimizing the business for long-term value creation.

Since then, TPV growth has accelerated sharply.

Hard to ignore the change in trajectory.

[M. V. Cunha @mvcinvesting]

The market reaction to $DLO's Q2 results feels like the same old story: noise around margin compression and lower take rates.

Again, if that’s more than offset by TPV growth, I’m all for it.

+92% YoY TPV growth is simply outstanding.

All going according to Pedro’s plan.

[M. V. Cunha @mvcinvesting]

$DLO Q2 Earnings Report is out.

Revenue of $399.7M vs. $366.8M est.
EBIT of $64.2M vs. $63.5M est.
EPS of $0.18 vs. $0.19 est.
TPV +92% YoY 🔥

2026 outlook:

TPV growth of 60-70% YoY (raised)
Gross Profit growth of 25-30% YoY (raised)
EBIT growth of 27.5-32.5% YoY (reaffirmed)

[M. V. Cunha @mvcinvesting]

I’ve been muting a lot of accounts lately.

Too many people speak with absolute confidence about things they clearly don’t understand.