3 posts
Post-earnings deep dive on Nebius, CoreWeave, and IREN. Multi-model valuation (EV/Sales, EV/ARR, SOTP, cycle scorecard) yields 12M PTs of NBIS $245 (+18%), CRWV $115 (+3%), IREN $62 (+8% base / +1,200% bull). Balanced portfolio: NBIS 45 / CRWV 35 / IREN 20.
Neocloud trio NBIS, CRWV, and IREN are all up +70% to +642% over the past year. Per-share price is misleading — market cap divided by sales (P/S) is what tells you cheap vs expensive. Allocation guide: NBIS 45 / CRWV 35 / IREN 20.
DigitalOcean (DOCN) surged from $25 to $68 in under a year. We break down the AI pivot, financials, four key risks, and what to watch in the upcoming Q4 earnings to decide if it's still a buy.