Great write-up, thanks! However, I think one important piece of the puzzle is missing - unit economics. How much CAPEX NBIS has to deploy to construct 1 MW of GPU, what is its useful life and how it compares to avg revenue per MW? What is the utilization required to break-even assuming straight line depreciation?
The data is pretty tough to put together as it depends how you consider Yandex investments. We don't know how much the company put, we only know how much nebius invest post-separation and will have clearer data later in time.
For now... All we can do is assume as they run their service on their finish data center mostly, a Yandex construction.
Great write-up, thanks! However, I think one important piece of the puzzle is missing - unit economics. How much CAPEX NBIS has to deploy to construct 1 MW of GPU, what is its useful life and how it compares to avg revenue per MW? What is the utilization required to break-even assuming straight line depreciation?
The data is pretty tough to put together as it depends how you consider Yandex investments. We don't know how much the company put, we only know how much nebius invest post-separation and will have clearer data later in time.
For now... All we can do is assume as they run their service on their finish data center mostly, a Yandex construction.