· 个股论点
并非因为股价反弹。而是因为自那以后，$NBIS 获得了 $MSFT 多年总计 170 亿美元的订单，上周以良好条款筹集了 41 亿美元以上的资本支出(capex)，加上三天前预期的降息利好。我们还看到微软计算资源紧张，OpenAI 转向 $GOOGL。其他超大规模云服务商(hyperscalers)也签署了更多计算资源协议，且更有可能签约。这些近期发生的事件，使得在 $NBIS 50 美元时仅为投机，除非是 $RKLB，否则我对投机性公司不会有高确信度。现在纯粹是从这里开始规模化扩张，未来营收复合增长数百倍。250 亿美元市值与未来增长不匹配。
It's not because of a price rally. It's because since then, $NBIS has 17B from $MSFT for multiple years, $4.1B+ now raised for capex last week on good terms, with additional rate cut tailwind projected from 3 days ago. We've also seen MSFT be compute strained and OpenAI go to $GOOGL. With other hyperscalers sign deals for more compute and more likely to sign on. This all happened recently, before $50 NBIS was speculation and I wouldn't have high conviction in a speculative company unless it was $RKLB. Now it's pure scaling from here with forward rev compounding hundreds of percent. 25B marketcap does not match forward growth.