🚀 My Nebius Position Is Finally Paying Off — But Is NBIS Getting Too Hot?

$Nebius(NBIS.US)

📈 From Paper Loss to Around +12%

Nebius has become one of the more interesting AI infrastructure positions in my portfolio. I am currently sitting at approximately a 12% paper gain, and the recent price action has definitely made this position more exciting. On September 24, NBIS jumped as investors reacted to several catalysts arriving at the same time. For me, however, the bigger story is not the one-day move. I am looking at whether Nebius can continue turning strong AI demand into higher revenue, better pricing power, and eventually stronger economics.

💰 The 20% Price Hike Is the Key Signal

The upcoming GPU cloud price increase is probably the most interesting development. Starting October 1, Nebius is raising prices across H100, H200, B200 and B300 GPUs, with increases of roughly 17%–21%. This is important because pricing power usually tells us something about the balance between supply and demand. If customers continue accepting higher GPU rental prices, it suggests demand for AI compute remains strong despite concerns about an AI spending slowdown. The B300 price increase is especially notable, with cumulative increases reportedly reaching around 56% this year.

🏗️ Bigger Capacity, Bigger Opportunity — Bigger Risk Too

Nebius is also preparing to spend heavily to expand its infrastructure. The company completed a $5.75 billion convertible notes offering, with proceeds intended for data-center construction, GPU purchases, AI cloud development and broader capacity expansion. Meanwhile, its partnership with Palantir makes Nebius the preferred sovereign AI infrastructure partner for $Palantir Tech(PLTR.US)  Palantir's commercial customers. These developments strengthen my long-term thesis, but they also remind me that this is still a high-growth, capital-intensive business. More GPUs and data centers can create huge revenue opportunities, but they also mean substantial financing, execution and utilization risks.

🐯 My Plan: Hold, Collect Slowly, Do Not Chase

With NBIS now around +12% in my portfolio, I am not looking to chase the recent rally simply because the stock is moving higher. I would rather let the position develop and continue collecting gradually on meaningful pullbacks. The combination of rising GPU pricing, expanding capacity, the Palantir partnership and potential Nasdaq-100 inclusion gives Nebius an interesting long-term AI infrastructure story. At the same time, valuation, financing needs and execution remain risks. For me, the thesis is still slow and steady: I would rather build the position patiently than turn a good position into an emotional trade just because NBIS suddenly starts flying.