Alger Mid Cap Focus 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 model combines proprietary data-center design with in-house software, which the fund believes can deliver better performance and lower operating costs than traditional GPU cloud providers. Better-than-expected revenue, surging AI-compute demand, a new 1.2 gigawatt campus and a strategic model-optimization acquisition strengthened the case.
“We believe the company’s appeal is anchored by its vertically integrated approach”