Nebius: Slow and Steady, My Mid-to-Long-Term AI Infrastructure Bet

I’m continuing to hold $Nebius(NBIS.US) with a simple strategy: slow and steady, rather than chasing every short-term move. The stock can be extremely volatile, but I believe the underlying investment thesis is becoming stronger as AI infrastructure demand continues to accelerate. In Q2 2026, Nebius generated $582.3 million in revenue, up 454% YoY, while AI Cloud revenue jumped 514%. Its annualized run-rate revenue reached about $3 billion, up 598% YoY.

What keeps me bullish is the visibility of future demand. Nebius has secured several major AI infrastructure contracts, including four deals worth more than $1 billion each, while contracted power guidance for the end of 2026 has been raised to 5 GW. The long-term agreement with $Meta Platforms(META.US)  is particularly important: Nebius will provide $12 billion of dedicated capacity over five years, with additional potential capacity purchases taking the broader opportunity to $15 billion. 

For me, NBIS is therefore not a stock I need to trade every week. I’m comfortable holding through volatility because the bigger opportunity is the multi-year build-out of AI computing infrastructure. Nebius is still exposed to execution, huge capital requirements, competition and valuation risk, so I won’t ignore those risks. But as long as customer demand, contracted capacity, revenue growth and cash generation continue moving in the right direction, I’m happy to stay patient and let the AI infrastructure cycle play out. My target is mid-to-long term, not the next few weeks. 

What do you think — can NBIS become one of the major AI infrastructure winners over the next 3–5 years? And if you already own it, are you holding through the volatility or taking profits along the way? I’d love to hear how everyone is approaching this one.