RTN Investing

Nebius Bull

[RTN Investing @RTNovak]

@GyujinAAIG This is exhausting. Not a zero sum game.

[RTN Investing @RTNovak]

@Joseph_Invests Nebius guided prepayments plus asset-backed financing on existing IG contracts to cover 75-85% of 2027 capex. Committed prepayments alone are $17-20B of $40-45B. The debt that's left is secured against Microsoft/Meta contracts, not unsecured parent debt.

[RTN Investing @RTNovak]

@babayogiat @babyfolio @Agrippa_Inv

[RTN Investing @RTNovak]

@babayogiat @babyfolio Estimates I have seen average around $7-8B remaining for ‘27 CapEx
@Agrippa_Inv crunching the numbers

[RTN Investing @RTNovak]

@saso_capital Vast majority of the issue this earnings can be directed at Vineland. While I am not excusing the poor 3rd party execution, growing at this pace, in this enviroment, certainly can expect a hiccup or two.

[RTN Investing @RTNovak]

@PoorCharlie_Cap @AnthonyBarr @kurt13warner Whenyou run your ass off wide open many times a game… at some point…. At some point…. We are all human.

[RTN Investing @RTNovak]

@KrRishabh_ @daniel_koss You do realize no politicians have actually changed over at this time?

[RTN Investing @RTNovak]

@Abbyxvx87 Vineland 3rd party delay was the #1 issue

+ EBT by EOY ‘27 is quite promising

[RTN Investing @RTNovak]

@cvel317 @Agrippa_Inv @ScalpinRoc The good news is that the cost of beef will hopefully leave Nebius unscathed.

[RTN Investing @RTNovak]

@Tyrionoazr @Joseph_Invests And, yes, I realize IREN ~90% prepayment as well.
My original response (chart) was related to an incorrect claim regarding margins. We keep moving these goalposts.
Both companies can survive and thrive.

[RTN Investing @RTNovak]

@Tyrionoazr @Joseph_Invests Good point- Margin in a downturn is a contract question.
NBIS Q3 deals were prepaid >100% of capex at >$25M/MW
(Q2: $20-25M), with a 19month payback.
Customer-funded capex at rising prices is what survives a turn.
Cheap power is an edge but not the only edge.

[RTN Investing @RTNovak]

@daniel_koss Admittedly quite a bit of newer news augmented this however I still owe you an apology Daniel!

[RTN Investing @RTNovak]

@KK12349999 @DarioCpx Wrong bud.
Check the transcript.
It is objective;y available through the supercomputer you are holding in your hands at this very moment.

[RTN Investing @RTNovak]

@DarioCpx Wrong.

CFO in prepared remarks, per Motley Fool's transcript: "we already have nearly 5 billion available to draw under already raised DDTLs".

[RTN Investing @RTNovak]

@EndicottInvests Perhaps we should wait for the facts to come out before bringing out the guillotine?

[RTN Investing @RTNovak]

@ginamilan_ 110%

[RTN Investing @RTNovak]

@davidzmorris This may be the dumbest take I have read in the last month

[RTN Investing @RTNovak]

@DreamDividend Whenever he decides to retire, not a day sooner

[RTN Investing @RTNovak]

@Futurenvesting Dumb take.

[RTN Investing @RTNovak]

@FIREDUpWealth Hit job.
At this point I would take a bullet for Jensen.