Buy NBIS by Jan 24, 2027.

*Current Price: \~$95* *Market Capitalization: \~$24B* *Recommendation: Long* While the broader market remains cautious, a quantitative dissection of the forward-looking order book suggests Nebius Group ($NBIS) is currently trading at a dislocation from its fundamental value. Below is the thesis for why Nebius represents a highly asymmetric infrastructure trade for the 2026 cycle. **1. The Velocity of Revenue Recognition** The market is currently pricing $NBIS based on trailing indicators, largely ignoring the contracted revenue ramp scheduled to materialize over the …