re: Nebius - NBIS - AI Infrastructure Company

NBIS usually runs for a few days when a story makes it pop 15%

Arete Research raised its Price Target on $NBIS from $291 to $380 and keeps a Buy rating.

Source: Bloomberg Terminal
LINK

The legend returns

IT, can you give us the sentiment of the industry on NBIS currently?

quote:

---

Man, Im glad I bought back my $230 covered calls. I was going back and forth on how to handle it...

---

I bet you are! Still holding mine with paralysis. Trying to keep in mind I bought them to force disclipline. I will still have 1K in shares when these are pulled from me

quote:

---

I posted some ClickHouse fire and you had to put out the flames with this post.

---

SNOW and MDB SMASHING is bullish Clickhouse, bullish NBIS.

will Clickhouse outpace NBIS market cap?!?

60bn Clickhouse = 15bn Nebius stake

Best I can do is a quick Gemini response:

ClickHouse raised a Series D round at a $15 billion valuation, and secondary market signals imply it is already trading around $20+ billion. Just recently, the company announced it crossed $250 million in Annual Recurring Revenue (ARR), more than tripling year-over-year.
A $60 billion market cap requires a 4x return from its early-2026 baseline. While a $60 billion valuation implies an aggressive forward multiple on today's numbers, the structural tailwinds supporting this bull case are highly plausible.
## I. THE AI-DRIVEN STRUCTURAL SHIFT IN DATA INFRASTRUCTURE
The fundamental pillar of the $60 billion bull case is that AI workloads have fundamentally changed what enterprises need from a database.
* **SHIFT FROM BATCH TO REAL-TIME ANALYTICS:** Traditional data warehouses like Snowflake were built for business intelligence (BI) reports that run periodically. AI applications, agentic workflows, and LLM telemetry require massive, high-concurrency, real-time data ingestion and query execution. ClickHouse is uniquely optimized for this.
* **THE NEW TELEMETRY STANDARD:** As platforms like Anthropic, Meta, and Cursor scale their AI models, the logging, observability, and evaluation data they generate is exploding. ClickHouse has become the default underlying database for modern AI observability and real-time event tracking.
## II. UNMATCHED COST-PERFORMANCE ADVANTAGE
In a mature software market, incumbents are rarely unseated unless a challenger is an order of magnitude better or cheaper. ClickHouse is proving to be both.
* **THE COSTBENCH EDGE:** ClickHouse’s newly launched CostBench benchmark demonstrates that ClickHouse Cloud delivers up to 23x better cost-performance on analytical workloads compared to Snowflake, Databricks, BigQuery, and Redshift.
* **ENTERPRISE COST OPTIMIZATION:** As compute costs skyrocket due to AI models, enterprises are looking for ways to trim their data infrastructure spend. ClickHouse allows companies to run massive analytical queries at a fraction of the cloud spend of legacy data warehouses.
## III. MONSTER FINANCIAL METRICS AND EXPANSION VELOCITY
To justify a $60 billion valuation at IPO or in the public markets, ClickHouse needs a clear path to $1.5 billion–$2 billion in ARR, sustained by high-efficiency growth. Its current trajectory shows it has the compounding engine to get there.
* **TRIPLING REVENUE VELOCITY:** Moving from $45 million ARR at the end of 2024 to $160 million in late 2025, and now surpassing $250 million ARR, the company is maintaining >200% year-over-year growth at a significant scale.
* **NET ARR EXPANSION (NRR):** ClickHouse’s revenue is growing faster than its customer acquisition rate. While its customer base grew from 3,000 to over 4,000 in a single quarter, ARR more than tripled. This implies that existing enterprise customers (like Visa, Cisco, Sony, and Tesla) are massively expanding their data footprints and spending significantly more year-over-year.
## IV. EXPANDING THE TAM WITH AGENTIC SERVICES
ClickHouse is actively expanding its Total Addressable Market (TAM) beyond raw database infrastructure into the application and orchestration layer.
* **CLICKHOUSE AGENTS:** The launch of its Claude-powered "ClickHouse Agents" turns the database into a fully managed, no-code agentic analytics platform. Instead of just storing data, ClickHouse now allows enterprises to build AI agents that natively query, analyze, and execute workflows directly on top of their data stacks. This positions ClickHouse as a core runtime environment for enterprise AI, expanding its valuation multiple from a "database company" to an "AI platform."
## V. THE VALUATION PATH TO $60 BILLION
For ClickHouse to hit $60 billion, the market will likely apply a premium public software multiple (e.g., 25x to 30x ARR), common for generational, high-growth data infrastructure assets at IPO.
```
Target Market Cap: $60,000,000,000
Assumed Multiple: 30x ARR
Required ARR: $2,000,000,000

```
Given that ClickHouse is currently at $250 million ARR and tripling year-over-year, it could reach the $2 billion ARR milestone within 2 to 3 years if it maintains a standard hyper-growth decay curve (e.g., dropping from 200% to 100%, then to 50%). With the entire tech ecosystem re-architecting its data layers around real-time AI capabilities, ClickHouse is perfectly positioned to capture that spend.

I can’t say that I’ve heard much recently.
Anyone’s guess.

quote:

---

ipo

---

This word is starting to give me anxiety.

SpaceX, Anthropic, openAI… these will ipo and insiders will dump into retail, everything will get extremely volatile this summer, as if it wasn’t volatile enough.