Alger Spectra Fund on Nebius Group N.V.
Thesis
Alger sees Nebius as a specialized AI infrastructure company with a full-stack platform for GPU-accelerated cloud computing. The fund believes its vertically integrated data-center design and in-house software can deliver superior performance and lower operating costs than traditional GPU cloud providers. Better-than-expected revenue, surging demand for AI computing power, a new 1.2 gigawatt campus and a strategic model-optimization acquisition supported the position.
“We believe the company’s appeal is anchored by its vertically integrated approach”