Nebius Group's stock has been volatile, with a potential double-top pattern emerging. The company is raising $4 billion, raising concerns about shareholder dilution amidst significant AI investments.
This is yet another big bet on AI, as the whole industry is pitching an Underpants Gnomes-style business plan where they build a bunch of data centers far outpacing the present-day demand for AI, have no fucking idea what to do next, then claim we will enter an age of unprecedented prosperity. AI is definitely here to stay to some degree, and OpenAI advertising themselves this week as too big to fail is one example of how we're stuck with it,
When Jeff Bezos started Amazon, Barnes & Noble wasn't pouring billions into machine learning or cloud infrastructure. This doesn't mean that it was easy for these entrepreneurs to change the face of whole industries. It was not. But it was at least possible. Back then, giants could be out-innovated because they were bureaucratic, cautious, and often blind to the potential of what the upstart start-ups were building.
The increase in overseas earnings reflects our focus on pursuing profitable international growth. The international Public Transport business continues to do well, underpinned by our ability to collaborate effectively with our clients to deliver valued services to support their transport goals.
