Alger Focus Equity Fund on Nebius Group N.V.
Thesis
Alger sees Nebius as a next-generation AI infrastructure provider purpose-built for machine learning and high-performance computing. Its vertically integrated approach combines proprietary data-center design with in-house software, which the fund believes can deliver superior performance and lower operating costs versus traditional GPU cloud providers. Better-than-expected revenue, strong AI-compute demand, a new 1.2 gigawatt data-center campus and a strategic acquisition strengthened the thesis.
“We believe the company’s appeal is anchored by its vertically integrated approach”