Overview
- The AI infrastructure provider, which rents access to Nvidia chips, reported a 2025 operating loss of $46 million alongside $1.2 billion in interest expense.
- Management said backlog reached $66.8 billion at year‑end, more than quadrupling from the start of 2025.
- Shares remain well below the $187 peak but are up about 86% since the March 2025 debut.
- Growth has decelerated, though revenue in the most recent quarter still more than doubled year over year.
- Analysts’ average price target sits at $122.35, implying roughly 70% upside from recent levels, while reliance on Nvidia and a lack of sustained profitability temper the outlook.