### @NBIS — Confirmed — from the earnings call and annual filing
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.
- tier: Confirmed (✓)
- source: NBIS / Funded ahead of the revenue: the cash cushion
- receipt: https://ticker.thevixguy.com/p/p-day-20260719-nbis-src-nbis-cash-cushion-ingest
- posted: 2026-07-19T21:49:33.317Z