Why Nuclear Power Could Be the Best Investment of the Next Decade

If you’re paying close attention to global trends, it’s clear that artificial intelligence, robotics, data centers, and electric vehicles (EVs) are radically transforming global energy demands. The rapid expansion of this technological infrastructure means we are poised to consume an unprecedented amount of electricity.

To meet this surging demand sustainably, we need a reliable, consistent, and carbon-free energy source. 

Nuclear power stands out as the ideal solution.

Why Nuclear? Recent Global Events Prove the Point.

To illustrate this, consider the contrasting approaches of Germany and France in recent years:

In 2023, Germany shut down its remaining nuclear reactors, fulfilling a long-term objective of the Green Party to rely primarily on solar and wind energy. Unfortunately, this decision quickly turned problematic. Electricity prices surged dramatically, exceeding €200 per megawatt-hour, due largely to "Dunkelflaute", extended periods of low wind and minimal sunlight. Germany’s famously gray skies unsurprisingly hindered solar power generation, forcing the country to restart coal plants and become a net importer of electricity. The transition was disastrous and contributed to economic strain, highlighting Germany’s troubling trend of energy mismanagement, alongside previous decisions such as relying heavily on Russian gas and controversial immigration policies.

In stark contrast, France doubled down on nuclear power in 2023. The result? France now boasts the lowest electricity costs in the European Union and has even started exporting electricity to Germany to help alleviate its neighbor’s shortages.

Recognizing this reliable supply of clean and affordable nuclear energy, NVIDIA has announced plans to construct Europe's largest data center in France by 2028.

Additionally, the World Bank recently lifted its ban on nuclear energy funding, further validating nuclear power’s pivotal role in the future energy landscape. Other nations have noticed France’s success: Denmark and Belgium have both removed bans on nuclear energy, signaling a shift towards embracing nuclear power. Similarly, Poland has partnered with the American firm Westinghouse, partly owned by uranium giant Cameco, to develop its nuclear energy capabilities.

Firmly believe that nuclear energy represents one of the strongest investment opportunities today. Global power demands will inevitably drive governments and corporations toward nuclear solutions, making this a high-conviction play for forward-thinking investors.

Here’s how you can tap into the nuclear energy trend through carefully selected stocks and ETFs:

Top Stocks for Nuclear Energy Exposure

1. $CCJ - Cameco Corp.

Cameco Corporation, headquartered in Canada, is the largest publicly traded uranium producer in the world. The company engages in the exploration, mining, refining, conversion, and sale of uranium. With strategic long-term supply contracts and vertically integrated operations spanning multiple continents, Cameco is ideally positioned to benefit from rising uranium prices and increased global nuclear energy demand.

2. $CEG - Constellation Energy

Constellation Energy is a premier American energy provider and operates the largest fleet of nuclear power plants in the United States. It specializes in carbon-free power generation, primarily nuclear, and also provides clean energy solutions across wind, solar, and hydroelectric sectors. Constellation’s extensive nuclear fleet and stable energy contracts make it a leading player in the transition to a low-carbon economy.

3. $LEU - Centrus Energy Corp.

Centrus Energy Corporation is an American company specializing in uranium enrichment and the development of advanced nuclear fuels critical for next-generation reactors. It plays a pivotal role in supplying enriched uranium products and services to commercial nuclear power plants and government clients. Centrus is strategically positioned to benefit from rising demand for advanced reactor fuels and new nuclear technologies, particularly small modular reactors (SMRs).

4. $SMR - Nuscale Power Corp

NuScale Power Corporation is a pioneering American firm specializing in the design and commercialization of Small Modular Reactors (SMRs). NuScale’s SMRs offer significant advantages over traditional nuclear reactors, including enhanced safety, lower initial capital requirements, scalability, and simplified construction and operation. As the first company to receive U.S. Nuclear Regulatory Commission certification for an SMR design, NuScale is strategically positioned to benefit significantly as countries and utilities look to adopt flexible nuclear solutions for cleaner energy production.

Growth & Risk Considerations:

Cameco ($CCJ) and Centrus ($LEU) provide direct exposure to uranium and nuclear fuel markets, aligning closely with commodity price movements. Cameco is lower-risk due to its size and market position, whereas Centrus is more specialized but offers substantial upside potential.

Constellation ($CEG) provides stability through regulated markets, regular cash flows, and dividend potential, appealing to more conservative investors seeking consistent returns. Meta’s investment and agreement with Constellation ($CEG) underscores increasing corporate validation of nuclear energy as a clean power solution.

NuScale ($SMR) represents the highest risk-reward scenario, as it focuses on a new and potentially revolutionary technology, providing substantial upside but also higher uncertainty. NuScale’s regulatory milestones position it strongly to benefit from future government and corporate adoption of innovative nuclear technologies. 

Best ETFs for Broad Nuclear Exposure

Global X Uranium ETF ($URA)

The Global X Uranium ETF offers investors targeted exposure to uranium mining, exploration, and nuclear energy companies worldwide. Designed to leverage rising uranium prices and increasing nuclear energy adoption, URA provides comprehensive coverage of the uranium sector with an international focus.

Key Holdings:

• Cameco Corp. (CCJ) – World's largest publicly traded uranium producer.
• NAC Kazatomprom (KAP.LI) – World's largest uranium producer based in Kazakhstan.
• NexGen Energy Ltd. (NXE) – Major Canadian uranium exploration and development company.
• Denison Mines Corp. (DNN) – Prominent Canadian uranium mining firm.
• Energy Fuels Inc. (UUUU) – Leading U.S.-based uranium miner and processor.

VanEck Uranium+Nuclear Energy ETF ($NLR)

VanEck’s Uranium+Nuclear Energy ETF provides balanced exposure to the broader nuclear energy sector, including uranium miners, nuclear power plant operators, and supporting infrastructure providers. NLR aims to deliver stability and dividend potential through diversified investments, making it suitable for investors looking to tap into nuclear energy with moderated risk.

Key Holdings:

• Constellation Energy Corp. (CEG) – Largest U.S. nuclear power plant operator.
• Cameco Corp. (CCJ) – Leading global uranium producer.
• Public Service Enterprise Group (PEG) – Prominent U.S. utility company with significant nuclear generation assets.
• Dominion Energy Inc. (D) – Major utility company with nuclear facilities in the United States.
• Kansai Electric Power Co. (9503.JP) – Leading Japanese utility and nuclear operator.

Which ETF is right for you?

The Global X Uranium ETF (URA) is more concentrated in uranium mining and exploration companies, offering higher potential upside but also greater volatility, especially tied to uranium prices. In contrast, the VanEck Uranium+Nuclear Energy ETF (NLR) takes a more diversified approach by including nuclear utilities and infrastructure providers, resulting in lower volatility and more stable dividend yields.

From a cost perspective, URA has a higher expense ratio of 0.69%, while NLR is slightly more cost-efficient at 0.61%. Over the past 5 years, URA has generally outperformed NLR during periods of rising uranium prices, but NLR has provided more consistent returns and income due to its exposure to regulated utilities. Investors seeking growth may prefer URA, while those looking for stability and income may lean toward NLR..

Investment Outlook

The surge in AI, cloud computing, and data centers guarantees that global electricity demand will rise sharply in the coming years. Recognizing this, tech giants including Amazon, Google, and Meta have publicly supported a recent pledge, led by the World Nuclear Association, calling for nuclear energy capacity worldwide to triple by 2050.

Of course, I'm fully aware of the historical concerns around nuclear power. Born in Eastern Europe in 1986 (the very year of the Chernobyl disaster), I understand firsthand the lingering fears and stigma associated with nuclear energy. Events like Chernobyl and Fukushima have understandably created caution around nuclear technology.

However, the nuclear landscape today is vastly different. Significant technological advancements and rigorous safety standards have dramatically improved the safety and reliability of nuclear reactors. Modern designs, such as Small Modular Reactors (SMRs), promise unprecedented levels of safety, efficiency, and scalability.

As stigmas begin to fade with growing awareness of these improvements, nuclear power is increasingly viewed as an essential, safe, and sustainable part of the world's energy future. For forward-looking investors, positioning in nuclear energy now presents an extraordinary opportunity.

Ultimately, nuclear isn't just another investment, it's a strategic opportunity to capitalize on a transformative global shift driven by technology, policy, and climate considerations.

Is Apple Still a Smart Investment in 2025?

Apple ($AAPL) has long been a favorite of investors.. and for good reason. Over the past decade, the stock has delivered over 500% returns, cementing its place as one of the most successful investments of the modern era.

But 2025 is a different story. Year-to-date, AAPL is down nearly 20%, and its latest product announcements have fallen flat with both consumers and the market. Naturally, this leads many to ask me the same question:

"Is Apple still worth owning?"

The answer, as with most things in investing, isn’t a simple yes or no. It depends on what you’re looking for.

The Innovation Question

One of the most common criticisms from Apple bears is: “Does this company even innovate anymore?”

This week’s WWDC 2025 didn’t do much to silence those critics. The software updates were largely cosmetic refinements to the user interface, rather than groundbreaking changes. One useful feature was live translation for calls and texts, but even that felt more like catch-up than innovation. Many competitors already offer similar tools.

What’s more disappointing is the lack of emphasis on Apple Intelligence. Back in early 2024, I predicted Apple would make a major push to integrate AI into its hardware, triggering a potential new growth cycle. That never happened.. at least, not in a meaningful way.

Liquid Metal - preparing us for Apple Glasses?

We now know Apple officially abandoned its car project over a year ago. That stung. A car would have been a bold, fresh product line, even though we can all agree it would have been very risky. Chinese smart phone manufacturer Xiaomi has pivoted to making cars, so who's to say Apple couldn't do the same?

Instead of a car, Apple pivoted to the Vision Pro headset, which has been underwhelming to say the least. It’s heavy, awkward, and expensive. Also, based on user feedback, many early adopters regret their purchase.

Now Apple is teasing a new design language called Liquid Glass, which may hint at something more promising, perhaps a sleek pair of AR glasses, akin to Meta’s Ray-Ban smart glasses. Now the Liquid Metal connection to glasses is only a rumor, but it sounds good, doesn't it? We at least know that according to reports from Bloomberg, Tim Cook has made beating Meta to market with consumer-friendly AR glasses a top priority.

Could this be the next breakthrough product that reinvigorates Apple’s innovation cycle? Maybe. If they can combine functionality (translation, maps, music) with Apple’s signature design, it could resonate. But that's still a big “if.”

The Ecosystem Still Matters

Despite the lack of innovation, one thing hasn’t changed: the strength of Apple’s ecosystem.

Like many other iPhone, I’m not switching to Android anytime soon. My photos, apps, and data are all in iCloud. The hassle of migrating away keeps me, and millions of others, locked in. That network effect is powerful and valuable.

But here’s the issue: Is that worth a 30x P/E ratio?

For a company growing at low single digits, the valuation looks stretched. Apple isn’t likely to lose its loyal base, but the days of frequent hardware upgrades are behind us. Without a new and exciting product to fuel growth, it’s hard to justify the premium valuation.

What I’m Doing with My Apple Shares

I’m not buying more Apple stock right now, but I’m not selling any of my shares either.

Most of my position was built aggressively between 2010 and 2019. It’s been a great investment. But with growth slowing and little near-term excitement, I’m content holding my shares and using them to generate cash flow through options.

Specifically, I sell covered calls on my AAPL shares, collecting monthly premiums. That earned income goes straight into buying my high-conviction stocks.. like $NBIS or $HIMS, for example.

Interestingly, Goldman Sachs maintains a Buy rating on AAPL, with a $253 price target. They’re bullish on an upcoming iPhone replacement cycle in 2025–2027, which they believe could reignite demand.

That may play out, but for now, I prefer to be cautious and income-focused.

Final Thoughts

Apple may not be the innovation powerhouse it once was, but it's still one of the most successful companies in the world and the numbers prove it.

In 2024 alone, AirPods generated an estimated $22 billion in revenue. To put that in perspective, that’s more than Spotify’s total revenue and almost as much as Block (Square) made across all its platforms. AirPods, a single product line, is outperforming entire companies.

But it’s a mature business that priced like a high growth company.. and that’s the issue.

If you’re looking for massive upside, this may not be the best time to load up on AAPL. But if you already own it, using the stock to generate income while watching for signs of a real innovation cycle is, in my opinion, a smart play.

Let’s see if those AR glasses become Apple’s next iPhone moment or just another Vision Pro flop.

Market Update: Big Moves Incoming? What I'm Buying Next.

Hello fellow investors,

Honestly, it’s hard to know where to begin since there’s just so much happening right now. With Donald Trump back, the markets are reacting to each of his online posts like clockwork, swinging sharply with every statement or controversy. The political noise is adding a layer of volatility, but despite the drama, here we are: six months into the year, and markets are back in the green. It’s a testament to how resilient and unpredictable this environment continues to be.

At the start of the year, I predicted we’d end 2025 with modest gains of around 5%, pushing the S&P 500 toward the 6,200 mark. So far, that trajectory seems well within reach, and I believe we’re still on track to grow into that number.

But some believe we could go even higher. Fundstrat’s Tom Lee, a well-known market bull who’s been uncannily accurate over the past few years, sees even more upside. He’s calling for a potential 10% surge from current levels, especially if the Fed follows through with a rate cut. Lee is particularly bullish on the current setup, citing strong technicals and a favorable macro backdrop.

Is it possible? Absolutely. In this kind of market, momentum is a powerful force especially if sentiment shifts further on policy, we could very well overshoot expectations.

So what's going on with my high conviction picks? Here's my June update. 

$PLTR

This week, The New York Times released what can only be described as a politically motivated hit piece on Palantir. The article criticized the company for its access to vast datasets on corporations and individuals—as if that’s somehow surprising or scandalous. But let’s be clear: Palantir isn’t harvesting consumer data. They work with data sets provided to them by governments and enterprises—and unlike Big Tech peers like Google, Meta, or Amazon, they don’t even have a consumer-facing product.

So why single them out? Possibly because Palantir just secured a billion-dollar contract from the Trump administration. When the Obama administration used Palantir to fight human trafficking, there wasn’t a peep. But now that the political winds have shifted, they’re suddenly a threat? It’s a selective outrage that doesn’t hold up under scrutiny.

Thankfully, the market saw through the noise. Investors shrugged off the hit piece and sent PLTR to an all-time high, recognizing the company’s growing strategic relevance. 

If momentum holds and the contract pipeline stays strong, a $150 price target is well within reach this year. And looking further ahead.. $300 within the next two years isn’t just possible, it’s increasingly likely. You're welcome. 

$HIMS 

Hims just made a bold move by expanding into Europe through the acquisition of Zava. It is exciting to see them execute on their global expansion strategy so decisively. The company has been all over the news lately and is now among the most shorted stocks on Wall Street. That, frankly, makes little sense.

This is a company that has more than doubled its revenue since last year, increased its customer base by over 40 percent, and tripled its EBITDA. And yet it is being heavily shorted. The disconnect between fundamentals and sentiment is striking.

If momentum continues and short interest remains elevated, there is real potential for a short squeeze that could push HIMS toward the $75 range in the short term.

$NBIS 

Nebius is on an impressive run, and it is not just hype. In the latest MLPerf Training v5.0 benchmarks, the company delivered outstanding results that position it as a serious player in the AI infrastructure space. Competing alongside major industry names like NVIDIA, Google Cloud, and Oracle, Nebius proved it belongs in the conversation.

The company delivered top-tier performance in large-scale model training, demonstrating its strength in high-performance computing. Its cloud platform also showed exceptional scalability and efficiency, managing massive datasets and complex AI workloads with ease. This level of capability is exactly what enterprises need to power modern AI applications.

These achievements position $NBIS as a strong and credible alternative to traditional hyperscalers. It offers organizations tailored solutions that prioritize performance, scalability, and cost-efficiency.

Analysts are starting to catch on. Arete’s Andrew Beale recently initiated coverage with a Buy rating and an $84 price target. That implies more than one hundred percent upside from current levels. Nebius may still be under the radar for many investors, but that window is closing fast.

$SOFI

SoFi continues to fly under the radar, which is exactly what makes it so compelling right now. With an increase in volume and revenue expected in Q2, the company is showing steady operational momentum that many investors are still overlooking.

While artificial intelligence and mega-cap tech dominate headlines, fintech remains out of favor, giving long-term investors a rare opportunity to accumulate quality names like SoFi at a discount. The market is not pricing in the upside potential here, and that creates a clear edge.

Management has been transparent in their guidance. They have consistently said that 2025 is a foundational year, a period focused on setting up for the next phase of growth. The real story begins in 2026 and 2027, where they expect substantial gains in earnings, revenue, and services.

At today’s levels, the stock offers a strong entry point ahead of that breakout phase. Investors who understand the setup and are willing to hold through the noise may be rewarded in a big way.

$BTC

Tom Lee recently suggested that Bitcoin could reach $200,000 per coin this year. While I am not quite that bullish, I would not be surprised to see Bitcoin start moving aggressively in that direction.

That may sound extreme right now, but the macro setup is shifting fast. Trump’s latest economic bill looks like it could fuel inflation, especially with his push for lower interest rates at the same time. It feels fiscally irresponsible, particularly after the administration made efforts to cut spending through initiatives like DOGE.

If the government starts printing more money while also lowering interest rates, it creates a real risk of currency debasement. In that kind of environment, people move their capital into assets that hold value.

From my perspective, this will drive more demand for gold and Bitcoin. Both represent a way to protect purchasing power when fiat loses credibility. Bitcoin may once again prove to be the smartest place to be when policy becomes reckless.

I'm looking for my next big investment

I’ll be sharing a full post soon on what I believe could be my next major investment opportunity, but here’s a preview. The theme is simple: selling shovels during a gold rush.

You’ve probably heard the saying before. During the California Gold Rush, the real winners were not the miners chasing gold, but the ones selling them shovels. That mindset has led many investors to companies like NVIDIA and Palantir, which are building the tools powering the AI revolution.

But what if we zoom out even further? What powers the tools that power AI? The answer is energy. Electricity. Infrastructure. And increasingly, nuclear power.

As demand for AI and data centers explodes, so will the need for high-capacity, stable, and clean energy. This is not just about investing in AI itself. It is about investing in what makes AI possible.

Stay tuned. My next post will dive deeper into this opportunity.

$NBIS Up 30% — And Why I Just Bought 700 Shares of $SOFI

The trade I made on $NBIS back in early May has started to show strong results. The stock is already up over 30% since my purchase, and I want to give credit to anyone who followed me on that move. It’s always rewarding to see research-backed conviction pay off.

But I am not cashing in just yet. I continue to hold $NBIS as an infrastructure bet on the future of AI. I believe the company is well-positioned in a rapidly expanding space, and I plan to stay invested for at least the next 12 months or possibly longer depending on how the landscape evolves.

A New Addition: $SOFI

Outside of that, I haven’t made too many moves lately but mostly because I was away on vacation. However, I did take a position earlier this week: 700 shares of $SOFI at $13.50/share.

Unfortunately, I may have mistimed this move by a day, as it looks like the markets will pull back in response to renewed tariff threats from President Trump, this time targeting the European Union with a proposed 50% tariff (rolls eyes). This kind of geopolitical headline risk tends to spook the markets short term, but it also creates attractive entry points for investors who can look beyond the noise.

Right now, $SOFI is trading in the $12–13 range, and I see it as a compelling opportunity.

Why I’m Bullish on SoFi

SoFi (Social Finance) is not your traditional bank. It’s a digital-first, asset-light financial platform built for scale. Here’s what stood out to me:

• End-to-end financial services: loans, mortgages, credit cards, and investing all in one app.

• Lead monetization model: instead of turning customers away, SoFi sells leads to partners and collects fees, minimizing credit risk while still profiting from user demand.

• Asset-light strategy: the digital model allows SoFi to scale rapidly without the cost burden of a physical branch network.

• Explosive member growth: from 3.4 million in 2021 to 10.9 million in 2025, representing a 52% CAGR.

• Ambitious long-term goal: aiming for 50 million members by 2035, which would position it in the same tier as major U.S. banks.

Let’s put it in perspective:

Bank	Market Cap
JPMorgan Chase (JPM)	$700B
Bank of America (BAC)	$313B
Wells Fargo (WFC)	$238B
SoFi	$15B

The upside potential here is massive especially when you factor in their relatively small market cap today.

Leadership Matters

Leadership is another reason I’m confident in SoFi’s vision. We all know I love growing companies with charasmatic leaders, (like Karp at PLTR) and SoFi's  CEO, Tony Noto (what a name!) brings deep experience, having served as:

• Managing Director at Goldman Sachs

• CFO of the NFL

• COO of Twitter

This is a team that understands both finance and tech, and that’s a rare but powerful combination in the fintech world.

The Risk: Profitability Still in Progress

To be clear, SoFi isn’t without challenges:

• Revenue is strong, but they’re still in investment mode, spending heavily on growth.

• Net income remains low, but that’s not unusual for a company aggressively scaling in a competitive space.

That said, if they continue to execute and hit their goal of 50 million members, I believe $SOFI has 10x potential over the next decade.

Final Thoughts

Right now, I’m not rushing into many new positions. But $SOFI felt like the right opportunity at the right time, especially with the market giving us a temporary discount due to macro headlines.

As always, I’ll keep you updated as new opportunities emerge.

My Latest Pick: An AI Company with a Bright Future $NBIS

Hello fellow investors.

How's the market treating you so far in 2025? 

Well, the S&P500 is still negative for the year, but it looks like Trump maybe easing up on tariffs, so that may bring us into positive territory soon. We'll see. 

But if you've been following along here and investing like I have, you are likely doing far better than 95% of investors out there, even in a rough year like this. My personal YTD return is over 20%, I am VERY proud of this specifically in a year where everybody has been struggling and losing money. 

The best hedge funds in Manhattan tend to unofficially promise returns between 10-20% in a year, so for me to consistently beat them puts a huge grin on my face. 

In the last year, I am up over 100% in my portfolio. I spend a lot of time reading market news, researching companies, and devote a lot of time to this. But I genuinely love doing this and it doesn't even feel like work to me, so I am very happy to be at least rewarded financially for all of this. 

Now, that being said a lot of this is due to my high conviction in PLTR which I have been promoting since 2021 here, but my very recent pick, HIMS has also taken off like I expected. 

So naturally, some of you are already asking me what's next. I've been working on this one for a while, but here is my latest investment: 

It’s called Nebius, ticker symbol $NBIS, and it just might be the best kept secret in AI.

So What Is Nebius?

$NBIS is a next-gen cloud provider. Not just your typical storage and compute shop either. Nebius builds highly specialized AI infrastructure, offers developer tools, and runs one of the most impressive hardware-software stacks I’ve seen outside of hyperscalers. Think AWS and Azure, but streamlined for AI workloads and far more cost efficient.

The company is founder-led. It carries no debt, holds 2.4 billion dollars in cash, and is quietly building a monster. They own three high-potential subsidiaries and a meaningful stake in ClickHouse. And somehow, they’re still trading at just a 6.6 billion dollar valuation.

The core business alone could 4x or more from here. And that’s before even accounting for the other units.

The Big Picture

Nebius is gunning for dominance in the AI infrastructure race. The total addressable market for AI cloud is expected to grow at a 35 percent CAGR through 2030. Everyone wants compute power, and Nebius is offering some of the most cost-effective, high-performance solutions in the game.

They operate two key platforms:

• Nebius AI Cloud — optimized for AI training and inference

• Nebius AI Studio — a platform for researchers and developers to fine-tune, test, and deploy models

And now they’ve introduced TractoAI, a serverless platform that makes deploying AI workloads even easier, priced by usage instead of cluster time.

This isn't just a "cool tech" company. This is an extremely well-funded, engineering-heavy operator that designs its own servers, racks, and even motherboards. They run world-class data centers in Finland, the US, Paris, and Iceland. Their Finland site ranks among the top 20 supercomputers globally.

Let that sink in.

Why It Stands Out

A few things make Nebius unique:

• They’re a preferred Nvidia partner, meaning they get early access to top GPUs like Blackwell. That’s a massive edge in the AI compute wars.

• Their infrastructure is 20 to 25 percent cheaper to operate compared to others.

• They’ve got over 15 years of experience in server optimization.

• They’re expanding hard. By the end of 2025, Nebius expects to have 100 megawatts of capacity in the US and over 400 megawatts globally.

Let’s talk about scale for a second. At full capacity, their Finland data center alone could generate 1 billion dollars in annual recurring revenue. Add Missouri, Iceland, and Paris, and you get a path to 2.5 billion dollars ARR by mid-2026.

Apply even a modest 9 times ARR valuation, and that core business alone could be worth 22.5 billion dollars.

But that’s just part one.

Now Enter the Subsidiaries

Avride — The Sleeper in Autonomy

I was shocked this company wasn’t getting more attention.

Avride is Nebius' autonomous vehicle arm. Think robotaxis and delivery robots. They were the first to launch robotaxis in Europe and have already driven 22 million kilometers. That’s more than Cruise, Zoox, or Motional in some cases. Zero accidents.

They’re already operating in Moscow and testing in the US and South Korea. Starting this year, they’ll be running paid rides in Dallas through Uber. They’ve partnered with Hyundai to move toward full autonomy.

This is serious. Cruise raised money at a 30 billion dollar valuation. Zoox sits around 6 billion. Motional, which hasn’t even tested highway driving, was last valued at over 4 billion. Avride is at least on par,  or maybe even further ahead.

They also have autonomous delivery bots already deployed in the US, UAE, and Korea. Over 200,000 deliveries completed. Uber Eats integration. They expect to scale to 1,000 units by the end of the year.

Serve Robotics, which is doing something similar, is valued at 500 million with half the deployment. So conservatively, the delivery division alone should be worth a few hundred million. The robotaxi unit? Could be 6 to 10 billion by itself once it scales.

Toloka — Data Is the New Oil

Toloka is one of the world’s top AI data labeling platforms. Clients include Microsoft, AMD, Amazon, and more.

They’ve evolved from basic crowdsourcing to offering high-quality, targeted data for training large language models. This is one of the biggest bottlenecks in AI development right now, and Toloka is well positioned to dominate.

2024 revenue is projected at 60 million dollars, growing at over 40 percent annually. That puts 2030 revenue at around 322 million. At just 5 times sales, you’re looking at a 1.6 billion dollar valuation.

Again, that’s conservative.

TripleTen — Educating the AI Workforce

TripleTen is a fast-growing online bootcamp focused on AI and software training. Over 1,000 students enroll monthly, and they’ve recently expanded into B2B training for companies looking to reskill employees in AI.

They expect 50 million dollars in revenue by 2025 and are growing rapidly. The educational tech market is projected to grow at over 26 percent annually. If TripleTen hits 160 million dollars in revenue by 2030 and trades at 2 times sales (like Coursera), that’s another 320 million dollars in value.

ClickHouse Stake

Nebius owns 28 percent of ClickHouse, an open-source columnar database built for fast analytical queries. It’s used by giants like Microsoft, Spotify, Lyft, Block, Meta, and more.

ClickHouse was valued at 2 billion dollars in 2021. Since then, it’s only expanded. That makes Nebius’ stake worth around 560 million dollars, minimum.

Valuation Summary

So what do we have here?

• Core cloud business could be worth 22 to 27 billion by 2026 to 2028

• Avride could reach 6 to 10 billion in value

• Toloka could be worth 1.6 billion by 2030

• TripleTen around 320 million

• ClickHouse stake valued around 560 million

And all of that... is bundled into a company that today is valued at just 6 billion dollars.

Yes, There Will Be Dilution

Let’s be real. The cloud business is CapEx intensive. Avride will need funding. Nebius raised 700 million in December and has 235 million shares outstanding, plus 126 million shares held in treasury for incentive plans and future financing.

Even if total dilution reaches 53 percent (I think that’s the ceiling), the upside is still massive.

Where This Could Go

I believe $NBIS could be worth 10 billion dollars by the end of this year. They’re expected to hit 750 million dollars in ARR and are on track to break even on adjusted EBITDA.

By 2026? The company could conservatively be worth 35 to 40 billion.

By 2030? I wouldn’t be surprised to see a 50 billion dollar valuation, maybe more, depending on how AI compute demand evolves and how Avride scales.

Even if you assume full dilution, you’re still looking at a 5 to 10x return over five to seven years.

At sub $30, I find this to be a bargain. I think this can reach $50 within this calendar year. 

Final Thoughts

$NBIS is my highest conviction pick right now after PLTR & HIMS. 

It’s got strong fundamentals, massive growth, an unbeatable TAM, and one of the most talented engineering teams in AI. They’re building everything from the ground up, solving multiple bottlenecks in AI: compute, data, and talent all under one umbrella.

This is the kind of company that becomes obvious only in hindsight. But I’m not waiting for hindsight.  

We'll see.