$NBIS earnings weren't exceptional as always, but they were still solid. I believe many small stellar details were missed:
• Payback period improved to 19 months from 22 months.
• Prepayments on deals signed in Q3 covered over 100% of associated capital expenditures, up from 50%-60% in Q2. This trend is continuing into Q4.
• ACV (Annual Contract Value) per MW exceeded $25 million in Q3, up from $20 million last quarter.
• Prices in Q3 rose on average more than 20% per GPU-hour QoQ.
• $NBIS expects to cover 75-85% of their 2027 capex through advanced prepayments and asset-backed financing investment-grade customers along with their balance sheet.
• Payback period improved to 19 months from 22 months.
• Prepayments on deals signed in Q3 covered over 100% of associated capital expenditures, up from 50%-60% in Q2. This trend is continuing into Q4.
• ACV (Annual Contract Value) per MW exceeded $25 million in Q3, up from $20 million last quarter.
• Prices in Q3 rose on average more than 20% per GPU-hour QoQ.
• $NBIS expects to cover 75-85% of their 2027 capex through advanced prepayments and asset-backed financing investment-grade customers along with their balance sheet.
