Key Takeaways NBIS expanded contracted power from 2 GW to 3.5 GW in three months; targets 4 GW this year.SMCI cites record backlog and is pushing liquid cooling plus full AI data center solutions beyond servers.SMCI fiscal Q3 revenue rose 123% to $10.2B; shortages and an ongoing China diversion probe add pressure.The AI infrastructure market is expanding rapidly as enterprises, hyperscalers and AI-native companies race to secure computing power, cloud capacity and advanced data center solutions. In this env ...

Where SpaceX's IPO Money Is Actually Going Most investors think of SpaceX as a rocket story, but Lango frames it differently. Since acquiring X and folding in xAI's Grok models and data generation capabilities, SpaceX has quietly become an AI infrastructure play. And the IPO, which Lango expects to land in June, is primarily about raising capital to launch data centers into orbit. The SpaceX NASDAQ: SPCX IPO is dominating headlines, but Luke Lango of InvestorPlace says investors are looking at this story th ...

Crossroads Capital 2026年第一季度投资者信核心摘要 - 基金2026年第一季度扣除费用和开支后净值增长4.2% [1] - 自成立以来，基金总回报年化增长率为21.3%，净回报年化增长率为17.1% [1] - 截至2026年3月底，基金整体非Delta调整后的总风险敞口为114.1%，净风险敞口为73.3% [1] - 基金认为2025年的稳定市场趋势被地缘政治紧张局势打破，导致标普500指数下跌约4.3% [1] Nebius Group (NBIS) 表现与概况 - 截至2026年5月22日，Nebius Group股价为每股214.77美元 [2] - 该股一个月回报率为48.16%，过去52周涨幅达456.54% [2] - 公司市值为545.3亿美元 [2] - 公司是一家专注于为全球AI产业开发全栈基础设施的技术公司 [2] Crossroads Capital 对 Nebius Group 的投资观点 - 2025年末首次投资时，公司面临诸多看空因素：作为从Yandex分拆的新上市实体，业务规模小，客户主要为风投支持的AI初创公司，缺乏核心大客户，且现金流为负 [3] - 关键转折点：2025年末，公司获得Meta一份价值约30亿美元的产能受限合同 [4] - 2026年3月，该合同升级为一份270亿美元的五年期承诺，分为两部分：一部分是120亿美元，用于预定自2027年初开始部署的首批大规模Vera Rubin基础设施的专用容量；另一部分是150亿美元，Meta承诺为Nebius计划扩增的未签约第三方产能提供需求保障 [4] - 与微软的合同相加，公司已获承诺合同总价值约460亿美元，而其平台在第四季度收入仅为2.28亿美元 [4] - 基金认为，Meta的合同第二部分意义重大，相当于为Nebius的扩张性建设提供了需求底价，并消除了其计划扩产容量的需求风险 [4]