December 6, 2024

From Russia with Cash: Nebius Group

Everybody wants to catch the AI gold rush, but who’s making the picks and shovels? If Nvidia’s GPU chips are the raw iron ore, specialized AI cloud computing provider Nebius (NBIS) is building a one-of-a-kind platform for prospectors looking to strike it rich. And with the company's North American expansion plans, soon it won’t be just Europeans relying on Nebius for help. But better yet, what if you could buy shares in this potential AI winner for half off? We think that's exactly what investors can do right now.

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The single greatest edge an investor can have is a long-term orientation.

In a world where performance comparisons are made not only annually and quarterly but even monthly and daily, it is more crucial than ever to take the long view. In order to avoid a mismatch between the time horizon of the investments and that of the investors, one's clients must share this orientation. Ours do. - Seth Klarman