🆗 BNP Raises NBIS Price Target

BNP upgraded NBIS to Outperform and raised its price target to $399, modeling $22B+ in exit 2027 ARR as AI cloud pricing moves toward $40M/MW.

With Meta and Microsoft largely ramped by early 2027, BNP sees a sharp reset higher in incremental-capacity economics, with Nvidia’s Vera Rubin adding another leg of upside.

✔️ @venture