Overview
- Michael Burry disclosed on August 6 that he opened a short position in Nebius near $211.77 and said he used a direct short because put options were too costly.
- Nebius reported explosive Q1 growth with roughly $399 million in revenue and an ARR near $1.9 billion, and Nvidia has built a roughly 9.3% equity stake in the company.
- The company has raised capital through convertible note financings and secured asset-backed lending while increasing aggressive 2026 capex guidance to fund a fast data‑center buildout.
- Shares slipped modestly after Burry’s disclosure and investors have focused on recent insider sales, long leases and debt levels as governance and execution signals.
- Nebius’ August 12 Q2 report will be the key milestone to watch because it must show that contracted demand from customers like Meta and Microsoft turns into durable revenue and healthy margins.