ATLAS
$191.82
365.7% vs S&P 12m

Former Yandex international assets relaunched as an NVIDIA-aligned GPU cloud and infrastructure operator.

European AI cloud build-out with anchor NVIDIA partnership; thesis depends on capacity ramp and enterprise traction.

Products
  • GPU cloud (Nebius AI)
  • Toloka data services
Customers (3)
  • European enterprises
  • Mistral
  • Research labs
Competitors (3)

Composite score

Higher = stronger overall research case

67
Fundamental53
Technical81
Valuation87
AI relevance78
Risk-adjusted (higher = safer)49
Segment-relative fundamental percentile: 55

Synthetic 1Y price action

Deterministic price series; 50d (yellow) and 200d (orange) MAs shown

3M RS: 70.0%6M RS: 111.7%12M RS: 365.7%Vol30d: 99%DD52w: -13.3%

Financial summary

Curated, illustrative

Revenue
$877.90M
Growth (YoY)
621.5%
Gross margin
72.1%
Operating margin
-32.1%
FCF
$-6.13B
Capex
$8.97B
Net cash / (debt)
$-198.00M
ROIC
-3.0%
Customer conc.
Medium

Valuation

Market cap
$48.70B
Enterprise value
$48.90B
P/E (TTM)
74.1x
Forward P/E
531.0x
EV / Sales
55.7x
EV / EBITDA
60.0x
P / FCF
PEG
0.6x
Rule of 40

Risks

Severity 1 (low) to 5 (severe)

  • 4
    Capex absorption
  • 3
    European AI demand depth

Score components

What drove the composite

Growth100
Profitability20
Cash generation20
Balance sheet72
Moat / AI relevance75
Capital intensity (higher = lighter)20
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)80
Relative strength100
Realized vol (higher = lower vol)21