1. Nebius's stock has dropped 21% since the last article, but the company has announced several positive developments. 2. The forecast for Nebius's operating metrics has been updated, with capital expenditure projections increased to $5.05 billion in 2025 and $4.49 billion in 2026. 3. Revenue estimates have been revised upward to $845 million in 2025 and $3.02 billion in 2026. Despite high CAPEX requirements, Nebius AI has flexible financing options.