The analysis focuses on Nebius (NBIS) stock. It notes the current price at $89, which is down 24% since it was last covered. Nebius has reported signing a $3 billion deal with Meta, with revenue exploding 355% year-over-year. The company is sitting on nearly $5 billion in cash while building out GPU infrastructure that developers want to use. A target price of $110 is inferred, with a failure bound of $70.