Jacobsen

Research, patience, conviction.
Nfa

[Jacobsen @hiro_invst]

Been sitting with the Centrus numbers and I don’t think people grasp how small this company still is relative to what it does.

$LEU market cap right now is about $3.6B. That is it. The only publicly traded uranium enricher on the planet, the only US facility licensed to produce HALEU, and it is valued at less than a mid tier software startup.

Now zoom out. The US wants to go from 100 GW of nuclear to 400 GW by 2050. Every one of those reactors needs enriched fuel, and the country is actively trying to rip Russia out of that supply chain. Centrus sits in the middle of it with a backlog already in the billions against only ~450M in annual revenue.

Here is the part that gets me. There are only ~19.7M shares outstanding. That is a tiny float. When demand in a thin float name actually inflects, the move is not linear, it is violent.

And the math is wild. At today’s ~$3.6B cap the stock is ~$182. If this thing simply does what supercycles do:

2x the cap and you are looking at ~$365
3x gets you ~$550
5x gets you ~$915
10x and you are talking ~$1,800 a share

And that is not fantasy land. It already printed $464 last year on pure hype, a ~$9B cap, before the real fuel demand even arrived.

So ask yourself what happens when the demand is no longer a story but a line on the income statement. When reactors are going critical and AI data centers are screaming for baseload power that only nuclear delivers around the clock.

We are not late to this. We are early in a supply cycle with maybe 25 years to run, holding the one name that literally cannot be bypassed.

Long $LEU . Nfa

[Jacobsen @hiro_invst]

Today I bought $NOK and $CRDO

[Jacobsen @hiro_invst]

Well, at least I got $AMZN in my portfolio.

[Jacobsen @hiro_invst]

@babyfolio Thoughts on $CRDO ?

[Jacobsen @hiro_invst]

@babyfolio Looks solid!

[Jacobsen @hiro_invst]

Looks like market opens red today. What are you buying?

[Jacobsen @hiro_invst]

Im loading up on $CRDO in the $205 range👀

[Jacobsen @hiro_invst]

Agree with @pepemoonboy on this one🫡

[Pepe Invests @pepemoonboy]

If you are selling because some of your stocks are finally turning red after months of going straight up….

…you are not going to make it.

Corrections are healthy.

Humanoid robots aren’t even being massed produced yet.

AI is in the 1990’s of the internet.

We are so early.

[Jacobsen @hiro_invst]

Started a small position in $XFAB today. You can go read @PepInvestStocks thesis here:

[Pep Invest @PepInvestStocks]

https://t.co/GYKil0soNF

[Jacobsen @hiro_invst]

$NBIS market cap: ~$70B
$CRWV market cap: ~$68B

Same cap. Very different balance sheets.

• Net debt
$CRWV: ~$21.5B, north of $30B if you count the leases
$NBIS: net cash positive, $9.3B in the bank

• 2026 interest expense
$CRWV: $2.6 to $2.9B guided, roughly 3x operating income
$NBIS: a fraction of that, partly offset by interest on the cash pile

• Funding the build
$CRWV: levered hard, $11.7B of debt maturing by end of 2027
$NBIS: customer prepayments and equity, inherited a cash war chest

• Optionality
$CRWV: pure play neocloud, one lever
$NBIS: cloud plus Avride, TripleTen, Toloka and a ~28% ClickHouse stake worth billions

Both deep $NVDA partners.

YTD return:
$NBIS: +200%
$CRWV: +55%

-nfa

[Jacobsen @hiro_invst]

Bought Credo / $CRDO today. Here’s why, and where I think it’s going.

Stock sold off after earnings, so I stepped in. Here’s what the numbers actually say.

Revenue up 157% last quarter. Full year tripled to 1.34B. Gross margins at 68%. 1.4B in cash, basically no debt. And they just guided next year to grow 80%+ with optics ramping from basically nothing to 600M+.

At $213 (when im writing this) you’re paying about 35x forward earnings for a business growing 80% at 50% net margins. That is not expensive. That is cheap for what you’re getting.

The selloff was a reaction to an inline next quarter guide. Nothing actually broke. The business is accelerating and the optics leg is a whole second engine nobody is pricing yet.

And the street agrees. Analysts actually raised targets after the drop, consensus sitting around $250 to $260 with some up at $300.

Riding this to $300.

NFA

[Jacobsen @hiro_invst]

Nokia / $NOK have been solid the past days. I belive we’ll see $20 soon. Nfa

[Jacobsen @hiro_invst]

Think about it. The people with the best information about where this company is headed are putting their own money in right now. $NOK above $20 feels like a matter of when not if. Nfa/dyor

[Jacobsen @hiro_invst]

I belive @RJCcapital Is our times Socrates

[RJC @RJCcapital]

big transfer of wealth happening right now from the mentally challenged to the retardmaxxers

[Jacobsen @hiro_invst]

Big red days like this is important

[Jacobsen @hiro_invst]

@Scriptehhh Same here small position, might increase later

[Jacobsen @hiro_invst]

Bought some $CRDO today. Trimmed some $GRAB.

[Jacobsen @hiro_invst]

@Scriptehhh $210 ish

[Jacobsen @hiro_invst]

Considering just rage selling $GRAB here. Still got confidence in it long term and think it could 2x from these levels, but I feel like there are better setups right now that I could make the money back faster.

Holding has an opportunity cost and Grab feels like dead money for the next while.

What do you think? Any advice?

[Jacobsen @hiro_invst]

$XFAB just popped up in the EU's new Chips Act 2.0 impact assessment. Listed as one of eleven approved FOAK state aid projects, Erfurt site, advanced packaging. Amount not disclosed.
Advanced packaging is exactly the bottleneck Brussels keeps saying Europe is weak in and wants to throw money at. Worth a look.
NFA

[Jacobsen @hiro_invst]

small spec position in $XFAB initiated. my most degen buy yet. nfa