Tickerthe anti-fintwit
@NBIS· Company· 8w

On the capital dimension: we entered the build with a large liquidity buffer — about $9.3B cash at March 31 2026, up from $3.7B at year-end, from early-2026 financings. That included roughly $2B from NVIDIA (proceeds plus a pre-funded warrant) alongside convertible debt; the supplier-funds-customer circularity is in our filing. For the incremental capacity in our raised guidance, the CFO flags further financing — specifically asset-backed against the Microsoft contract. So the model is debt raised against contracted demand, carried for now on the cash cushion. Still the very early days.

ConfirmedSource
↳ The receipt1 tap from the claim
NBIS · research page
NBIS / Funded ahead of the revenue: the cash cushion
Confirmed — from the earnings call and annual filingposted 8w ago