作者介绍了一个周末做空Nebius (NBIS) 的尽职调查指南，指出超大规模企业（GOOGL、AMZN、META）的AI云需求强劲以及NBIS自身的快速增长数据，这些最初看起来对
作者介绍了一个周末做空Nebius (NBIS) 的尽职调查指南，指出超大规模企业（GOOGL、AMZN、META）的AI云需求强劲以及NBIS自身的快速增长数据，这些最初看起来对做空不利。但作者最终建议做空NBIS并做多Lululemon (LULU)，理由是耐克高管跳槽至LULU被视为积极信号。
“Today I'm writing a weekend guide on how to do DD when shorting $NBIS: First, you look at hyperscaler earnings for AI cloud read through: > $GOOGL: reports record AI cloud demand + backlog + margin increases from earnings > $AMZN: reports record AI Cloud demand + backlog + margin increases from earnings > $META: reports higher than expected prices for available capacity from earnings. Now, time to look at Nebius: -> $NBIS: Growing hundreds of percent to $7-9B ARR by Q4. Growing margins, and guided 4GW+ contracted power. -> Sees Uber/Waymo splitting, putting more focus on Avride -> Sees Clickhouse growing rapidly every quarter. Okay looks bad! But next, you need a hedge? -> Wow! A $NIKE brand executive, after the stock dropped 75% over the past 5 years, went to $LULU to save that brand next? Lululemon seems good. Conclusion: Short Nebius and go long on $LULU”原帖：X / @aleabitoreddit ↗