On February 20th, we told readers that Nebius Group (NBIS) was “an AI infrastructure powerhouse the market was sleeping on.” While Wall Street yawned, we planted our flag: long and strong NBIS.

Fast forward to today, and NBIS has rocketed nearly 100% since our call—driven by the exact kind of catalyst we expected.

Microsoft Deal Lights the Fuse

This morning, Microsoft announced a multiyear AI compute deal with Nebius worth at least $17.4 billion, with options that could bring the total to nearly $19.4 billion.

This isn’t just a headline. It’s a clear validation that Nebius’ purpose-built GPU clusters are ready to power the next wave of enterprise AI. For Microsoft, it secures critical AI capacity to keep Azure competitive in a market where GPU shortages are the new normal. For Nebius, it’s locked-in, long-term revenue with one of the biggest customers on the planet.

The market’s reaction? Immediate and explosive. NBIS surged premarket into the mid-$90s—nearly doubling from where it traded when we first went public with our conviction.

Why We Were Ahead of the Street

Back in February, we pointed out four reasons to own NBIS:

Explosive AI demand requiring elastic, GPU-dense clusters. A war chest and scaling advantage that positioned Nebius as the go-to specialist. Blue-chip validation that we said was coming—and now has arrived in the form of Microsoft. A secular “picks and shovels” tailwind that makes AI infrastructure the safest way to ride the boom.

While Wall Street analysts were slow to notice, our conviction was grounded in fundamentals. Today, that conviction has been rewarded.

Steve Jones Strikes Again

Let’s give credit where it’s due. Steve Jones was the first to publicly flag Nebius as a stealth winner in the AI infrastructure race. He saw what the market missed—and readers who followed his call are now sitting on gains approaching 100%.

This isn’t the first time Steve has been steps ahead of Wall Street, and it won’t be the last.

The FOMO Is Real

Here’s the reality: the easy money has been made by those who were with us in February. But the bigger story is just getting started. Microsoft’s commitment opens the door for more Fortune 500 customers to sign multi-billion-dollar contracts with Nebius.

The flywheel is spinning, the thesis is playing out, and the market is wide awake now.

We remain exactly where we’ve been since February: long and strong NBIS.