1. The author increased their stake in Nebius during a short-lived dip, highlighting favorable terms of a $1B private placement with convertible notes trading at a 40% premium; 2. Institutional interest remains strong despite a 20% decline in 13F shares, while the CEO reaffirmed full-year revenue guidance and raised CapEx by $500M; 3. The author reiterates a strong buy rating but advises diversification to mitigate operational and geopolitical risks.