NBIS is upgraded to a buy, after a roughly 35% fall from above $209 to below $160 since the prior hold. Rental prices per megawatt have risen from about 10-15 million to 40 million with demand still exceeding constrained supply; a discounted cash flow shows a low valuation, and long-term debt of $10 billion is below a competitor's $51 billion. Only for high risk tolerance, among the riskiest investments you can buy.

Nebius Group is trying to differentiate itself from other modern cloud service providers, pointing out that its integrated offerings give it a competitive advantage and better profit margins.

Regardless, the company is classified in the same category as other cloud companies, which has led to a collapse in its stock price. Of course, October 14th was the last time I assessed the Nebios Group, and I warned investors at the time that although the price had fallen up to that date, it did not look like a buying opportunity.

At the moment I evaluated Nebius, the stock was trading at over $209, and has since fallen to below $160 per share. So, investors ask me: "What do you think of the company now that the stock price has fallen further?

Do you think now is a good time to buy the stock after this drop?"

On October 14, as I explained, was the last time I evaluated Nebios and rated it as not a buy opportunity, but rather a "hold" option, and I had a low level of confidence and conviction in this rating due to the high volatility surrounding these companies.

On October 14, the stock price reached $198.60, and today, at the time of recording this video, the stock is slightly below $160. Therefore, the stock has fallen by about 35% since I rated it as an opportunity not worth buying.

Fortunately, the price per megawatt, i.e. the rental price, is rising from about 10 to 15 million per megawatt. It has reached up to 40 million per megawatt. Therefore, this is in her best interest.

The dynamics of supply and demand are working in its favor, and there is still demand that exceeds supply, and it has become more difficult to secure this supply given all the constraints, hasn't it?

Nebius is slightly better than its peers in this category. It has recorded long-term debt of $10 billion, compared to $51 billion in long-term debt for one of its competitors, Coreweave.

So, to answer the question I posed in the title, and as you can deduce from the previous slide where we looked at discounted cash flow and the low valuation, I would upgrade the Nebius Group stock rating to a buy opportunity today, October 23, 2026.

As I mentioned, I am keeping an eye on all of this, aren't I? So, today I raised the rating, and this is the latest update to any change in my inputs, and the date of that change was October 23, 2026.

Of course, this should only be considered for investors with a high risk tolerance. This is one of the riskiest investments you can buy. So, if you are looking for high-risk, high-reward positions, this may be right for you.