Nebius Group (NBIS) stock surges 146% YTD, but faces customer concentration and high capex risks
The AI cloud provider reported 454% Q2 revenue growth and holds $37.5 billion in remaining performance obligations. However, three customers account for 59% of its Q2 revenue, and the company guides for $20 billion to $25 billion in 2026 capital expenditures, raising dilution concerns. Its forward P/E ratio stands at 68.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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