The AI infrastructure market is booming, with high demand for computing power and data centers. Nebius (NBIS), as a provider of AI infrastructure, is well-positioned to benefit. Despite recent stock price pullback, the company's strong revenue growth (over 355% year-over-year) and key partnerships with Microsoft and Meta suggest significant upside potential. Key risks include project execution delays and customer concentration, but the experienced management team and the overall AI infrastructure bottleneck present a compelling investment thesis. Analysts project continued strong growth, with some viewing the stock as potentially undervalued.