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$NBIS - Piper Sandler lowered the firm's price target on Nebius to $148 from $185 and keeps a Neutral rating on the shares.
The firm notes that neoclouds slid this morning following Nvidia's (NVDA) executive turmoil, though Nebus is underperforming the group following Q3 results that saw top line upside but also saw delays into 2027 and higher free cash flow-burn. The delays and guide-down are what Piper had been fearing it would see from Nebius, which has impacted some in the space more than others. The firm has some concerns that delays could still occur given the ecosystem, and continues to favor others that have shown more consistent execution.
The firm notes that neoclouds slid this morning following Nvidia's (NVDA) executive turmoil, though Nebus is underperforming the group following Q3 results that saw top line upside but also saw delays into 2027 and higher free cash flow-burn. The delays and guide-down are what Piper had been fearing it would see from Nebius, which has impacted some in the space more than others. The firm has some concerns that delays could still occur given the ecosystem, and continues to favor others that have shown more consistent execution.
$SPCX - SpaceX Plans $74 Billion Computing Centers in Arizona, Texas
SpaceX intends to build two super-computing facilities to reinforce its artificial intelligence business, including a new site in Arizona and a site near its headquarters in Starbase, Texas.
The company plans to invest in infrastructure projects, including constructing, owning and operating a gas-fired power plant at the Texas site, and will work with local electric cooperatives in Arizona.
The construction of the data centers is expected to generate jobs, with more than 3,000 construction jobs already generated in Texas and about 5,500 construction jobs anticipated in Arizona.
SpaceX intends to build two super-computing facilities to reinforce its artificial intelligence business, including a new site in Arizona and a site near its headquarters in Starbase, Texas.
The company plans to invest in infrastructure projects, including constructing, owning and operating a gas-fired power plant at the Texas site, and will work with local electric cooperatives in Arizona.
The construction of the data centers is expected to generate jobs, with more than 3,000 construction jobs already generated in Texas and about 5,500 construction jobs anticipated in Arizona.
$NVDA - So who's buying Nvidia under $150 today?View quoted post on X
Will be trading at a 15x P/E versus the S&P 500 trading at 18x but growing earnings at 115% y/y...š¤Æ