NewsNovo
Nebius Group (NASDAQ: NBIS) shed 31.1% of its value in July, per S&P Global Market Intelligence, cutting a large slice from a year-to-date gain that still stands at 125%.
The growth story behind that run is intact: first-quarter revenue climbed from roughly $50 million a year earlier to $400 million.
The complication is that the stock trades at about 14 times forward sales, and the company spent approximately $2.5 billion in a single quarter chasing the capacity needed to hold that valuation.
The capacity buildout Since last August, Nebius has raised its contracted power capacity projections from a minimum of 1 gigawatt to over 4 GW.
Keep reading