NBIS

We made a couple of changes in the high growth portfolio today. We sold our position in Braze (580 shares) at $43.99. Braze has rallied considerably since we bought the position in late October. While Braze is a leading vendor in the customer engagement space, its valuation is no longer quite the relative bargain it was when…

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Summary Nebius offers high-capacity AI-optimized data centers with significant cost advantages, Nvidia partnership, and a skilled engineering team, making it a compelling investment despite risks. The company has ambitious growth plans, projecting ARR of $750 million to $1 billion by end-2025; up about 4X-5X from the end of 2024, driven by substantial capex and Nvidia’s…

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