Okay. And we're live.
Good morning. How the hell do you look exactly the same, Tanner, when it's 7 a.m. versus when it's like I look like somebody just beat me up, man.
Yeah, probably. Um, how's it going?
Sorry. How's it going, man? We haven't chatted in a while.
Yeah, it's been a while since I've been on stream. Quite well. At least I can complain over the past few months. Maybe I should stay off three more.
I should stay off streamer.
Yeah, you're going to go off the grid soon if these investments keep paying off like they have been. We're not going to hear from you.
No, I mean only NE and rocket lab as well, but the other everything that's not AI or space is not doing that well. Yeah. So, we got numbers dropping four minutes. Probably.
Numbers are dropping soon. Um I think we have maybe Neil's going to join us soon. Um and and then we'll have about an hour to talk about numbers and the call is at 8 and I have to leave pretty close to right after the call. Uh we have a lot of uh different companies reporting as well.
Yeah, Wix reported. Manuel, do you want me to like just give the five minute sort of spiel on on Wix? I haven't seen the numbers at all. Uh I mean base 44 was way better than I expected and that made uh the margins drag be a bit uh wider and then they also had a bit of an an impact from middle east the middle east conflicts. I mean overall I think the results were good were not not amazing but I was really surprised with base 44. I thought they would show like $130 million in ARR because they just crossed 100 in March, but they are already at 150, which is pretty impressive. But yeah, I I still haven't had time like to look at everything, but everything I read I've read, I mean, it's pretty much the same as uh this unless um [ __ ] uh how can I say this? Sorry, I'm still sleepy as well. Uh apart from the base 44 surprise uh there and the numbers are not yet reflecting the 30% uh buyback. So the EPS miss wouldn't be that big if they were uh already with the new shares outstanding. Uh so yeah, not perfect, but I wouldn't call it that surprising either.
Gotcha. Any how's it going? Hey, no.
Good. Also, I might just be speculating here, but I have a feeling they had to force out all those press releases yesterday because they're going to drop a big one today. That's all I'm going to say. Could be speculating, but it felt weird that they dropped three press releases in like the span of like two hours. And I don't know, just interesting.
I think Roman gave it away, man. like he he was saying like, 'Oh, you know, can't wait to see you all tomorrow.' And then somebody posted that uh they're going to smash earnings. Uh there's going to be a beat or something. And then he retweeted that and I was like, 'Yeah, pretty crazy.' Someone said, 'I think that Neb is going to cook.' And he just retweeted it. So, we're like trying to read between the tea leaves and this dude just said, 'We're going to smash earnings.' It's going to be fun.
Yeah. When the numbers come out at seven. Yeah, I think they come out in like a minute. Pretty sure. I'm just refreshing the investor page.
Yeah, I'll have a couple I'll have X up in in the uh financials. If anyone gets it early, uh please send it in the private chat. That way we can distribute it.
Did you get the memo? He's He's wearing it underneath. Uh, somebody says, 'Let's have an Nvidia deal.' We had that. Okay. Results should be out. We're pumping. The stock is pumping. Yeah.
Oh, yeah. Oh, yeah. This is so good for my covered calls. I'm going to be left behind whenever this stock runs.
Which one? Which one did you take?
Uh 200s uh for July 17th. O it's not that I wanted this. It's what I had to roll to.
We're at $194, ladies and gents. $195 right now. All right, I'm refreshing to see.
What is it going to private chat?
3 399. Thanks in revenue. 40 cents in EPS versus a negative 78 cents. Year-over-year revenue 684%.
All right. Contracted power guidance up to 4 gigawatts. No. Yeah. 4 gigawatt. Oh man. Wow. Jesus. Over four gigawatts. Oh wow. Oh they announced Oh yeah. They showed the Spain site, a site in Pennsylvania, a site in Minnesota. Those are three new sites. The new Okay. Anyone have the uh here. Someone want to pull up the press release so everyone else can see.
Big Tevy. Big Tevis. Uh yeah, if you guys throw it up on the thing, I I'll throw it up. I don't have it yet. Hold on. Me up. Here we go. Share it.
And we're at all-time highs. Yeah. Oh my gosh, that happened quick. How about this 200 center? I'm gonna have to roll. Oh man. Oh man. Cash position. Cash position ending Q1 9.3 billion. Yeah. Well, I saw it. What is that about? Wow. What a huge cash cash position. Yeah. Is that from the from large deals like Meta or Microsoft? No. And the convertible notes and the investment from Nvidia. Gotcha. A lot of a lot of factors. See this? Okay. Hold on. Jeez. Do you know what I was trying to do? 2.4. before or no even not EPS no 129.5 versus 90 32% margin wow I think they were 24 last quarter much better unit margin goodness grew 674% year-over-year while revenue accelerated both quarter over quarter and year-over-year our deepening customer relationships are strengthening our unique position to serve industry-wide demand for both compute and cloud services. We also demonstrated the operating leverage inherent in our business. Nebius, our AI cloud business, nearly doubled its adjusted EBIT margin quarter over quarter to 45%. A testament to our trajectory to towards 20 to 30% EBIT margins. ARR at $1.92 billion. That's up 54% quarter over quarter. 1.92. Wow. 1.92. Yeah, that's exactly what I guessed in my earnings preview. Jeez. Yeah, if you guys look at the sites, too. Three new sites it looks like based off last quarter. Um, we had Pennsylvania wasn't there before. Minnesota wasn't there before. Well, the second Finland site wasn't there, right? Yeah. Yeah. I I I wrote a post about that predicting that new site. And the new one in France as well. And the one in Spain is there now, too. the one that and the one in Yeah. It's honestly so funny like when you look back like we're such nerds that we find these positions that are being hired and then three months later they announce the site. I just love it. I mean it pays better to be a nerd in this than anything else. Oh yeah. Oh yeah. Any other I'm trying to see if there's any other big news here. Yeah. Neil, what are you thinking, brother?
I am looking at last quarter's report and comparing to this one, and we'll see if something major has changed that we still didn't didn't notice. So, for now, looks looks good. We'll see if uh if we can see if we can notice something before the call.
Yeah, this thing. We're going to go through the entire uh report by the time we get the call though. Yeah. I want to know how they got 9.3 billion cash. Share the screen. Yep. They didn't raise their ARR. Yeah, I didn't think they would. I feel like I definitely they would. No, I think they'll have stronger visibility next quarter. I think next score they'll raise it, but they wanted to wait for stronger visibility. Yeah, because if they raise I think it's smart not to raise it right now. They're going for 200 right now. $1 199.95. Really? Yeah. Oh man. 200. I think it's 200. Yeah, we're over 200. I think it spiked right after my posts. Man, you should disconnect your albums. 203. Damn. Sheesh. No complaints. And like we're not even at the call yet. So this is going to keep going up as they uh as Arata gets asked about demand. Yeah. I mean maybe. I mean, stop asking me this. He's funny on the calls, man. He doesn't care at all. He wants to get back. You can hear him take deep breaths between his answers. Demand is an outstripping supply and we got to get back to work. But but when he's on podcast like the one with Axel, he was he was pretty good there. He was because Axel invests in Nebius. So they probably forced him to be excited. You also could tell it was a little scripted like he had the questions beforehand. Yeah. Yeah. You guys noticed. Yeah. Call starts at 8 a.m. It is currently 7:07 Eastern. So you got about 53 minutes there. Go get yourself a coffee. Get ready for the call. Get your notepad out. Yeah. What do you guys make of all this cash? I mean, I I get it how they have it, but this is going to be burned down throughout the year, you think? Yeah. I mean, based on the capex that they gave us. Yeah. Yeah. Yeah. No, I think they're going to get into T-bills. No, I mean like I was I was more asking around more acquisitions versus just a normal burn. I mean, most of the acquisitions will probably be paid with stock. Well, because the one that they had, the couple that they had are fairly smallish like the Yeah. And I think at this valuation it makes sense to use shares like Agon AI was like $600 million that would be like 1.5% dilution not even that much if we are at $200. So you can you can even buy like like a huge acquisition with just a a single digits dilution. So I think they should use the cash for capacity and these type of creative deals probably just we don't know the terms of the clarify acquisition do we? We just know they acquired the team and like basically posted that they're excited about it. We don't know any terms of it. Yeah, I mean that just came out last night, so maybe we'll talk. Yeah, I have a feeling I want to ask. So, are like uh I ran and coreweave investors like breaking their pencils today or I don't know. You're a coreweave investor. Tell us. Yeah, tell us. I I love the cash position and they're like I think that's the big concern that people have with Coreweave is just the amount of debt that they're taking on is insane. Um yes, welcome to the club. Uh the terms as well. Right. Right. Because for example, iron to be fair, the the the terms of the convertible notes were pretty good. Like when you compare them with coreweave, I mean and even if you compare neus when they raise uh compared to but I was also surprised with the last raise from coreweave, it wasn't as bad as the previous ones. So I guess the th those lending money to Corewave or wherever they just understood that Core is now too big to fail because Nvidia is never going to let Core fail. So exact exactly. I understand your yours on that side. I I mean it's also the valuation. I'm there's not too many ways that I can look at the pricing of Nebius versus uh Coreweave. Obviously, I can maybe look at adjusted EBA margins, price to sales. Um but but I I think the actual costs and the margins long-term for these businesses will be similar. Maybe Nebius builds their own racks. Maybe there's ways to to lower costs across both. But um I I I I I think that the end game is very similar. And the fact that I know that Cororeweave is not going anywhere and their price to sales is like seven or 8x versus Nebius is like 60 times. Um I think that there's a eventually a price that I will be willing to pay for another Neocloud, but obviously I have way more Nebius than I do Cororeweave. I think the question is more about how will they uh translate that revenue to the bottom line because a big part of that in this in this type of business model which is really capital intensive is how you get your financing terms and how you get your capital. So I think the big question investors have regarding Corweave is whether they can get to a pretty interesting bottom line and with Nebius you have several advantages in terms of the vertical integration in on the hardware side which lowers the total cost of ownership. Coreweave also has pretty good software so I I don't think that's a problem for them. uh they don't have the inference platform like Nebius does, but they're they're still very strong and every benchmark tells you that. So I I really think the problem and what scares investors away is the really the terms because that that's what will drive your your bottom line. You can say they have huge a bit margins or huge a bit margins but the real deal will be to translate that a bit to the bottom line. And I think at some point or even at this valuation considering how how huge the demand is right now I don't think I wouldn't consider Core a bad investment at all otherwise I would be bearish on the sector and that's obviously not the case but I think that's the big question mark for investors and we're at 205 Jesus. Oh man. Yeah. Yeah. Yeah. For me, it's like um I I I think the entire sector will do well. And do I want to keep buying Nebius even though I believe it's still going to continue to go higher, but at what valuation makes which NeoCloud the best buy? Because I obviously operationally Nebius is my favorite. You need to adjust the valuation of Nebius for the other assets as well. If you do that, you'll see that dude. But I'm I'm looking at through Nebius group. I mean, if you're looking at it through Nebia group, then the valuation should be much more attractive because click but when you check Nebia's group numbers, you don't have for example the click house stake accounted for. Uh that's what I'm trying to say like you need to adjust at least adjust a bit. Let's say the valuation doubles on click house. their stake goes from 3.75 billion to let's say six billion with a little bit of additional dilution. Yeah, that's gonna happen this year. No, I I I agree. I agree. Um but today, you know, I think Sure. I was going to say I think Click House is like $12 a share as a part of Nius. Like if you subtract Click House right now, it's $12 a share. So yeah, whenever we open up today, the market cap's going to be well over $50 billion. It's it's uh a a shrinking percentage of their overall uh market cap. Like like this company's market cap has doubled in very very short period. Yeah, for sure. Oh, the target of over four gigawatts. Sorry to to mess with the four gigawatt over four gigawatts by the end of 2026 isn't even the big headline. They already have over 3.5 gigawatts of contracted capacity like right now. Oh wow. I just saw a post from Peter Mley and he said that. So let me find it on the bro. Let's get Peter Mley on here. Like that. Yeah, in the morning stream. Yeah, it's here. Contracted capacity already exceeds 3.5 gigawatts, far surpassing the goal of 2 gigawatts we set for the end of the year. This is crazy. Yeah, that's what that that 5 gigawatt in between. I thought power was the bottleneck. Yeah, I was going to say the same thing, Manuel, that I saw uh Nebius purchase two and a half billion of GPUs. I'm surprised they didn't make a press release about it. I figured that'd be a way to go, right? If I speak, I'm in big trouble. Uh I don't want to be in big trouble. Great quote, Jose Mourinho. Ah, feels good. Feels good. Yeah, it's become increasingly easier to hold and want to buy more of this company. It's pretty nuts. Are you guys still buying? Like, when was the last time you guys bought? Uh, I think 120. So, like a month ago. Yeah, I think that I think that's about where my last buy was as well. Um, no, in March actually. Good times. Yeah, it's six weeks ago. I remember whenever uh Nebius was going down last not not not not this most recent week, but the the quarter before that on IN's earnings. If you guys remember that after hours movement where I ran I think went down to like $29 or something like 30% down and then closed the day after and Nebius I think was in the 60s or something after hours as well. And I called Tevis and I was like brother what's going on and he literally had like a like dread in his voice. She was like, 'Dude, I am.' And uh anyway, so now he's in a very different position. And now every time I call this guy, he's laughing and he's smiling. And it's funny how fast things change. Three months, dude. Thinking about retirement. I was telling Tanner last night, I was like, 'Dude, at that point, I had written cash scared puts like $35 in the money. $40 in the money.' Like when we were at 70, I was like, 'Yeah, 115 sounds good.' That's insane. But it was for June and we hit 200 in May. So I was like I was off by I could have written 150s. Could have written 150s. You still think they're going to drop a press release uh of a big deal um somewhere, Nate? Uh well I I thought it was going to be a big deal but I thought it was gonna be Oh go ahead. Look what I what I found. They said we have now secured two gigawatt scale sites in the US. So one is independent. The other one we don't know about. Interesting. Wait, where did you find that? Oh, it's here. We we are announcing a new site in P in Pennsylvania where we have secured power for a deployment of up to 1.2 two gigs. Is that about another 1.3 we are announcing? Yeah. Yeah. Interesting. Very nice. Nvidia is up also 2% probably because Jensen's going to China or something. Yeah, Jensen's on the plane 225. I've got covered calls out for this one for uh next Monday for 235. So, if anything, if my track record prevails, we're going to be over 235 by Monday and I'm going to have to sell out of those two. I've got 220 covered call nebus for this Friday. So, so far those should be fine. That should be fine. I got 215. So, we're all degenerates. I mean, I was happy yesterday when things cooled off a little bit because if it continues, I'll be like even 220 might not be safe. I was talking with uh with Tevis and I was like, 'Yeah, I've got 160s for, you know, I forget what it was, but it was before earnings, but like a week before earnings.' And he was like, 'Dude, you are so screwed.' But the premiums are so high. I was able to just continuously roll. I got from 160 to 200 and only had to push out my thing like a month. Yeah. And that's probably what will continue to happen. I might have to go to I mean August or something like this and get 230s brother. We could get another very good point. Sorry. No, I appreciate you cutting in. I'm just reading everything. Own capacity now accounts for more than 75% of contracted power. I just saw that too. I literally just read that too. That's crazy. Oh man. Collocations. Oh. Collocations. Do you want to just throw up the thing? I can't be on stream. I like this. I like the sassy side of you. I can just throw up the thing. We can we can read it. I don't show that side on X much, but I just laugh at home. The the live streams are dangerous. Yes, they are. We can't go back. more than 9 billion of cash. Yeah. Plan to deploy this discipline manner. Further expand the capacity. If you're going to read it, read it out loud because you're doing like the half read out loud, half read in your head. In Jersey, we continue to serve. I mean, that was update. Jesus. I'm just trying to scan to see if there's anything interesting to pull out. Yeah, I'm trying to. It's hard to like read and comment at the same time. Everything is interesting. Who out of out of out of the panel here is buying more at uh 200? I am not. Or if 190 is that the buying opportunity? Not for me. 10 or for since since so far is under $16. Are you buying Nebius at 200 or so under 16? This is the question we have to ask ourselves. Question. I'd probably say Nebius right in this environment. Tanner bearish on SoFi. My reaction. Yeah. Justin Tanner bearish on rate hikes for SoFi. Yep. News Justin. Oh, on page six they said in Q1 we delivered all capacity across AI cloud clusters on time. Someone in one of your chats said SoFi is a wannabe bank. I mean, they're they're an actual bank. There's two groups. There's people that say it's just a bank, and then there's this new group that's forming that SoFi wants to be a uh can't win. Scheduled to begin in early 2027 for Meta. I thought they already delivered a Tron for Meta or was that That's the first contract. Yeah, that's the original three billion because I I assume that the new contract is for one of the the data centers being uh constructed. Probably my guess is that it's the 310 megawatt uh in Finland, but it's just a guess, bro. What is this time to sell triple 10? This the core business will grow faster. Oh, I mean triple 10 is just a way of Well, I think they were even talking about potentially selling off AV, right, as well. And no, but I saw that you're talking about the sentence in the 20F filing, right? Uh the that exact same sentence was in last year's 20F filing. So, they they want to do it at some point, but that doesn't mean it's uh soon. the reval. I was You're like an Uber shareholder, right? Or someone here. Me, maybe Neil. Yeah, I think AV ride would be a a really good acquisition for Uber. I mean, they're already partnered. Yeah. Yeah. No, but like full acquisition. Yeah. I mean, it's like I think it would complement them pretty well. Yeah. I think Uber should pay them like 30 billion or something. I feel like that'd be pretty. Uh do you guys see this revaluation of Nebius' equity stake following this financing uh the click house raise in January contribute to a gain of 781 million to nonoperating income in the first quarter which explains the big big beat. Yeah. Do we have any more updates on the deferred revenue because I know last quarter was a couple billion. It should be because that made me think. I was like wow they really caught up to to coreweave pretty quick. But um that that I guess explains it. Starting. All right. Bye. Hold on. Starting Q126, we revised the useful life for our server and network equipment from four years to 5 years. Yeah, they announced that in the last call. Yeah. All right. That that's still pretty low. Like Core Waves is like six years. Yeah. Um, yeah. Aren't some hyperscalers going up to seven now? Yeah. Yeah. Sort of Meta came out and said that they're going to have the useful life of of some of their own chips going up to seven years now because of the increasing memory costs. Yeah. Um, I think they will probably raise the capex guidance during the call. I have a feeling they will too. It's he did say in that Excel interview. He did say that capacity is funded for the year, but that doesn't mean there's more there's now more capacity. So, I mean, yeah. Yeah. The funding momentum seems to be pretty good. And if they're already at 3.5 contracted power gigawatts right now, it's because they must have uh they must be even more optimistic now. And I'm that request copics. Uh significant token factory customer wins in Q1 include Revolute which is that Yep. Tech and monday.com as well. Yeah. Yep. Those are two massive customers. What was the exact remember remind you what was the exact capex number for the year? 16 to 20. Yeah, 16 to 20. So this quarter was 2.5. So it's going to accelerate from here quite quickly. Yes. I'm just licking my lips over here as an Nvidia shareholder. just in New Jersey. We continue to service our customer commitments and remain on track to activate the remaining capacity through the year. Classic. That's a nice I thought it was going to be delayed like two years ago. Yeah, same. I've read it. Maybe it was one of those fake news websites. I don't know. AI that dangerous. You were so over the iron bulls. No, I'm kidding. Dude, even Korean's up 2%. I'm just afraid that every bag holder this move could fade once they raise capex. Yeah, I think so too. It's so funny. If they said if they cut capex the stock would drop. If they raised it the stock drops. It makes no sense in this industry why capex doesn't why it's a negative. It's like buying inventory. Like they they're they're directly selling what they're buying through capex for large profit. Uh I I just I find it unlike other businesses that raise capex and then you don't know if you're going to see a direct return on those investments. This is just you're buying GPUs and those GPUs will be sell sold based on five-year contracts, one-year contracts, hourly rates, what have you. And those rates are going up. They got 3.2 billion in prepayments this quarter. Okay. Is that meta? That's a deferred revenue for you. You're you're talking about how much they have deferred revenue right now. Yeah. I mean, we we can't really know how much they got because they probably already spent uh a bunch of money, but yeah. Yeah. Looking at this quarter last year, cost of revenues was 49%, now it's 26%. Product development was 72%, now it's 17. And SNA was 120%, now it's 36. So improving immensely year-over-year on all those metrics. pretty much the uh if over the next two hours these companies uh hold this type of pricing the um semiconductor ETFs are going to fly. I mean all all the names up Micron's up AMD is up um Marll is up. I don't know if this is China news. It probably is, right? Probably. Which is down 15%. You thinking of rotating some Manuel? Sorry. You thinking of rotating some money from Nebus to Wix? No, I'm not selling nies, but the Yeah, I was just going to say that the the volume is not really that meaningful for weeks, but yeah, but still it will probably be that. I mean, I wasn't really expecting much from today because Monday.com was like up 30% and it faded the entire move and it's now red after earnings. So, it was going to be a bit harder for four weeks to revert that trend. Yeah. And and I think you're right. The things that they will potentially turn sour on is stuff like capex raises. Yep. 100%. But I think that's actually good for the business. Like especially after these results, like we can grow faster. We will grow faster. So we're spending more. Why not? Uh funny. I mean, I think we're going to get some like good news out of out of the the China trip. Like so many people are going. You think they're going to open up business for Nvidia and uh etc., etc. I mean, I don't know, man. Like, what what can I make of the fact that like what half of the S&P market cap is going to China right now? It's it's quite large. I mean, I don't I would be shocked if everybody came back empty-handed, you know. My understanding is only Elon and Jensen were on Air Force One right now. Yeah. The rest is probably going on the private jet, I assume. Yeah. And then he he called up Jensen like last minute. He was like, 'Hurry up, man. Get in.' Like, wasn't that pre-prepared? Ah, Nebius, who knew that a company that a team that build Yandex could do something like this? Imagine if they were previous Bitcoin miners. Never doubt the KGB agents. Yeah, we are all communist shareholders here. Yeah, I can't lie. I honestly think whenever you're buying into an industry that has this many tailwinds, there's going to be a lot of winners. Um, but some will win more than the others. Yeah. And and finding that out will will give you exceptional gains if you can find the the biggest winner. Maybe it's Nebius, but um maybe I mean, we don't know. Okay, it's looking likely, but Yeah. Uh, thanks Jack for the donation. I'm not going to bring that comment up on. I mean, [ __ ] it. Uh, yeah, he's been saying this in my chat constantly. Thanks for the congrats on the gains. Just end it there. Yeah, I gotta come up with a new price target because I think mine just got hit for December 31st. Yeah. Uh, anything else? Oh, and even Rocket Lab is back up 6.3% today. 125 new all-time highs as well there. This thing has really gone to the moon. 125 right now. Yeah, Rocket Lab. Yep. So with 27, we are very happy today. Yeah, we'll see what does tomorrow. Rocket Lab just turned a 27 better for me. Rocket Lab just in the pre-market has gone up double Manuel's cost basis and Neb is up my cost basis in the pre-market. It just just reached eight beggger. Maybe I'll just come down live every three months just to flex. Yeah, I should I shouldn't come. 205. Micron's 810 right now. Nobody's up almost 15% pre-market. Throw the candles up. I'd rather look at the candles than our faces. Speak for yourself, man. Yeah, seriously. You're just looking at yourself. Oh man. And the call starts in what, 25 minutes, I assume. Yep. Cool, cool, cool, cool. Up 13 nearly 14% on the day. 204 right now. So far. So far. Yeah. So far. Yeah. I I mean, if we were betting then, what do we think it goes to more likely? back down to 0% or up to 20%. Because I've got my money on zero. Yeah, I was going to say I do think during the call there's going to be capex expansion conversation. It'll sell off premarket and then it'll probably slowly climb up throughout the day. That's what happened last one before that. I think it essentially sells off on capex stuff and then the market goes, 'Oh, wait. We're being dumb.' And then they bid it up. I'm happy with that. Don't go to 215 too quick, you know. Yeah. Give me a chance here. Take your time. Don't go to 200 by July, right, Tanner? Yeah, I will get a better cost than that. Like it will happen. Or better strike. I mean,
That being said, we're climbing back up to 206 right now.
And there we go. New highs.
Oh man, Manuel just made another million dollars.
Yeah, we should. What a day.
All-time high in the port. I'll take it.
I don't want to go into the office right after this.
Just call your boss and fire him.
Yeah. I'll just tell him on the stream, 'Hey, I quit.' No, just fire him. You're in that position now.
Yeah, just say I buy the whole company.
Are you coming in today? Watch your mouth.
Work suddenly becomes optional.
Who do you think you're talking with?
Suddenly he pops up in the chat. Tevis, where are you?
Uh, Nvidia is also at 225.70. Yeah, I do think Nebius reported on a good macro day in general. Like the whole market's pumping for this China trend.
True. And yesterday it was nice to see like just a small correction to like... a correction.
No, I mean it's because if we pumped yesterday, the likelihood of pumping today would be lower, I guess.
True. Yeah. Full porting Nebius might have been one of the greatest financial decisions of your life. Whoever said that hobby investor... must my guy hobby.
Yeah, you guys still work.
207.8 almost immediately here.
Yeah, this is not slowing down. Up 16% in the pre-market.
And now that we have another gigawatt-scale data center being built, we will have for sure new large contracts in the next few months.
Yeah, I do agree with that actually.
Can my prediction of them getting an Anthropic deal this year still come true?
Yeah, they definitely have to. 209. We're going for 210.
I mean, can you believe if you look back there were some red candles back here? Wouldn't want to have been those guys.
Yeah, those are somebody's cousins, brothers, sisters.
210. We just hit 210. Holy.
Now they're crying before their job.
What am I talking about? Also, my gains are capped at 200 as we speak. Like none of these candles are even mine.
What? To me, where my mouse is, that's like the candles have just stayed flat.
It's about to... Oh my lord. Oh man, my 220 is not that safe anymore.
And meanwhile, I have 215s over here like sweating.
It's like increase capex, please. Please say something's not going to plan or there's a slight delay or...
Dude, this is so entertaining. Just 3,000 people on the stream watching this thing take up every dollar we just call it out. Like watching paint dry in the most entertaining way.
It's not, bro. It's real money being made. This is super exciting to me.
Yeah. Like you're getting rich in real time.
Yeah. Once you start seeing a red candle, turn off the stream. Like go back to our while we see green candles.
Yeah. Nebius is over 52 billion dollars now.
Still a long way to go to the hundred billion dollar market cap.
Nebius to a thousand. Anyone? Any takers?
That'd be a nice day. The hundred billion dollar market cap. What would it be, like 400? Close to 400.
Yeah, pretty close to 400. Well, they're going to dilute a bunch by then. So, probably by like 450 when it comes later this year.
All right. Call is in about 18 minutes for those asking.
Yeah, I guess like what are you guys looking forward to hear on the call besides all of us wanting capex to go up?
I mean I was looking for updates around how they're tracking towards their data centers, the build out.
But they provided a little bit of that. Curious to see if they're going to talk a little bit more about... I don't know what would analysts ask. They're going to ask around capex. They're going to ask around...
They're gonna... I think someone's going to ask about like the sentiment about like, 'Oh, we're seeing that 50% data centers are being stopped, like how is... how does it affect your timelines?' I feel like that'll be like a sentiment sort of question.
Yeah, he'll have a big sigh. Just look at our guidance.
But I have a feeling asked that. Even though the Data One CEO kind of dispelled that as well on the interview if you guys watch that.
Yeah, that was... Yeah, I want to know like how are they being impacted by the components prices and memory.
Yeah, that too. Yeah, because they had already secured the memory components for the first contract with Microsoft and the first contract with Meta.
So now I'm not sure if that's the same for the next contract with Meta. So, some color on that would be nice, but yeah, I mean, I think they're saving a big announcement for...
Not for the call. I'm... for the future in terms of a data center in Paris, but this is just speculation on my side. I've talked about it before, but they have a few job listings suggesting that. But they are being a lot more careful with the wording right now. Like once I started to post like everything and like exposing everything, they now eliminated that sentence that say like, 'You're welcome to work in our collocation or in our data center or whatever.' They now eliminated that sentence from the job listings. But I caught one about Paris, but like in the day after they eliminated it. So, I wasn't sure if it was because they said 'on our own data center' or 'in our data center,' something like that. And they only say that when it's owned by Nebius. The only data center they have now in Paris is a collocation with Equinix. So, and the interview with the CEO of Data One was actually in favor of that because he said the grid in France is 100 times better than the US. So, it's really favorable for large-scale data centers. But again, I'm just speculating. I just think that if we're going to build like a huge data center in Europe, it's got to be in France or something like that because in Finland they already have the flagship. Now they're building another one and they have another publication. So I guess it would have happened already or at least it would have been already under plans or preparation. I don't know but I could be wrong as well.
They don't have, do they? No.
They don't have, they don't have any. No, I mean I also wrote a post with that because I found a job listing saying 'You're welcome to work in our data center in Amsterdam,' but like half an hour later they had eliminated it.
You're pissing them off as well.
No, I think they find it funny.
Yeah. No, at this point they just write them exclusively for you. Like just leaving Easter eggs for you to find.
Like every day I check like job listings several times a day like on their website on LinkedIn.
I just said, could you guys just email them to me? I'm gonna find them anyway.
Yeah, they must think that I'm a stalker because I'm on LinkedIn. I'm always like stalking them all. Like I know like 30 people from Nebius that if I found them on the street I would know them. So they might be scared of me at this point.
Just every day they wake up they're like, 'Your portfolio has been viewed by...' it just says like 16 times Manuel.
His like profile picture, you know.
But so far it has enough to be a Nebius hat on just like this.
But they will get a lot of questions on the acquisitions, integration, Token Factory, agentic services, how that helps the business margin-wise, things like that. I think could help the whole picture.
I mean all of these announcements from yesterday, I assume some analyst is going to ask something about it.
No. Yeah. I mean especially after yesterday which had another acquisition. All right, call is going to be coming up shortly here.
Tanner, do you know if I like leave the stream right after the call, obviously not sharing something, but what happens is it'll keep running until everybody leaves, right?
If it just goes away and leave the stream open, right?
No. If I leave like if I exit the stream... Yeah. If I leave the studio, not end it, but exit.
Yeah. Yeah. Then we're still here.
It'll keep going, but then we'd all have to manually end our streams through YouTube and Twitch.
And yours would keep going on, right?
Yeah. So, just leave it open on your phone and then just end it.
Travis, you just made enough money to not have to work today. You can last the five minutes to get past to 9:00.
Uh yeah. We'll figure it out when we get there.
No, I feel like you're gonna leave us in some sort of weird unendable stream thing and just detonate this stream.
No, no, no. I'll just come back on my computer like 15 minutes later and close it. It'll be fine.
What time do you have to go?
Pretty close to right after the call. I got a 9:30 like workshop thing I got to be there for. So.
9:30. So, you're not going to watch Nebius breaking like $250 at open.
If it's at 250, I'll... then you can quit today.
Or you're going to see at market open that it's 179.11 or somewhere around there. Again like many of these earnings lately.
This is so funny when you start selling covered calls and companies you like and you have to turn bearish, dude.
That's exactly what I just did. I'm like, ah, this quarter barely is... It's whatever.
I feel like it's what? Who cares? Full year's contracted power done in Q1. Nothing.
I mean like I knew this was going to happen but at the same time going into today it was like 179 bucks. I was like you know like even if it goes up you know 15% like I'm still safe and we're already up 17% and the call hasn't even started.
And typically what happens is it sells off before the call.
Man. What a quarter. What a past couple of weeks.
Manuel sending emails to the whole Nebius group team.
Congrats on the quarter, guys. I expect you all in the office. I expect you all in the office.
Oh man, they're gonna get like handwritten letters in the mail. It's like... actually I haven't talked about... Brook 210, by the way. Like a... I haven't talked about this before, so I won't say too much, but I might be doing a field trip to the US in less than a month.
It's exciting. You going to go visit New Jersey while you're there or what?
No, no, no, no. Now I was going to go to Mississippi, Missouri. I mean, you stay at least.
I'm going to... It's not to any data center by the way.
Okay. That will be in Europe, not in the US.
But no one even said that.
No, no, but it's related, but not any... I don't have any insider information nor I'm visiting anything in the US, but I might meet some cool people.
All right. And it's noting Jensen confirmed.
I mean, Jensen wish. I'm not sure if I can find some spare time for him.
He's gonna be... He's like, 'I'm meeting up with some Nebius shareholders meets Jensen.'
All right. Earnings call starts in seven minutes. Yeah.
