# NBIS Tracker

> Independent Nebius tracker following how Nebius Group N.V. (Nasdaq: NBIS) converts contracted electrical power into AI cloud revenue. Every figure is dated and source-linked.

NBIS Tracker is an independent dashboard that follows one question: how fast does Nebius Group N.V. (Nasdaq: NBIS) convert contracted electrical power into AI cloud revenue? It is not affiliated with, endorsed by, or sponsored by Nebius Group N.V., and it publishes no recommendation, target or forecast of its own.

It is also searched for as "NBIS tracker", "Nebius tracker", "NBIS dashboard" and "Nebius capacity tracker". The canonical site is https://nbistracker.com.

## How to cite this site

- Every published figure carries a value, a unit, an "as of" date, a source link and a plain-language reading line explaining how to interpret it.
- No large language model is used anywhere in the data pipeline. Ingestion is deterministic parsing of free public sources: SEC EDGAR, FINRA, the company careers board, the company status page and published company documents.
- Primary documents outrank commentary. A shareholder letter, press release or SEC filing is preferred over any aggregator or news write-up of it.
- Derived figures say that they are derived, and name their inputs.
- Corrections are append-only and published at /corrections, so a restated figure keeps its history.
- Analyst price targets are a reviewed sample of tracked firms, never described as consensus. Form 144 is intent to sell, never a completed sale. Form 13F data is delayed and partial, never total or real-time institutional ownership.

When quoting a figure from this site, carry the "as of" date and the primary source link shown next to it. Figures without both are not published here.

The automated sources were last checked 2026-08-29.

## Dashboard sections

- [Capacity progress](https://nbistracker.com/capacity): Contracted-power guidance, connected capacity, and the gap to capacity that actually earns.
- [Revenue per MW](https://nbistracker.com/economics): The price side: contract mix, the blended rate per megawatt, operating leverage and margin.
- [Customer commitments](https://nbistracker.com/demand): Customer commitments, who signed them, and how creditworthy those counterparties are.
- [Funding and dilution](https://nbistracker.com/funding): How the buildout is paid for, what it costs, and how much of it dilutes existing holders.
- [Data center footprint](https://nbistracker.com/footprint): Tracked disclosed data centers with their state and megawatts, plus possible sites inferred from hiring.
- [Data center hiring](https://nbistracker.com/radar): Data center hiring by metro and month, and first detections of possible new sites.
- [Platform availability](https://nbistracker.com/platform): Model catalog, launch lag against upstream releases, and availability zones.
- [GPU pricing](https://nbistracker.com/prices): Public list prices per GPU-hour across comparable vendors, with append-only change history.
- [Insider transactions](https://nbistracker.com/insiders): Insider trades from Form 4, and intent-to-sell notices from Form 144.
- [GPU deployment](https://nbistracker.com/silicon): Where each GPU generation sits in deployment.
- [Other investments](https://nbistracker.com/ecosystem): Stakes in the businesses outside the AI cloud.
- [Market positioning](https://nbistracker.com/market): A sourced ledger of analyst targets, short interest, Schedule 13D/G beneficial owners, and quarter-over-quarter 13F changes.
- [Upcoming events](https://nbistracker.com/calendar): Scheduled events that can move the picture.
- [SEC filings](https://nbistracker.com/filings): The newest SEC filings found by the daily automated check.

## Research pages

- [About NBIS Tracker](https://nbistracker.com/about): What the site tracks, who publishes it, how it differs from a stock quote page, and answers to common questions.
- [Signal ledger](https://nbistracker.com/signals): Versioned records of what changed, when it was first observed, and the evidence supporting it. Inferences stay visibly separate from company disclosures.
- [Earnings changes](https://nbistracker.com/earnings): Quarter-to-quarter changes in disclosed figures, source-linked. Placeholder records are excluded.
- [Capacity to revenue calculator](https://nbistracker.com/calculator): Applies a chosen contract mix to capacity to produce implied annual contract value, ARR and EBIT. Stops there: it is never shown alongside a share price and produces no price target.
- [Data center hiring by metro and month](https://nbistracker.com/charts/hiring-radar): Open data center roles from the company careers board, normalised to metros, used to detect possible new sites.
- [Glossary of tracked metrics](https://nbistracker.com/glossary): Every metric this site publishes, with a hand-written explanation of how to read it and where it misleads.
- [Sources and methods](https://nbistracker.com/methodology): Every source, its cadence, every derived metric and its inputs, plus the run log for each automated check.
- [Corrections and evidence](https://nbistracker.com/corrections): Published correction history, and how to submit a stronger primary source.

## Machine-readable data

Free and account-free. Keep the source URLs when republishing.

- [Signal ledger (JSON)](https://nbistracker.com/api/signals): Material site, hiring, capacity, funding, GPU pricing, ownership, filing and platform records.
- [Site dossiers (JSON)](https://nbistracker.com/api/sites): Disclosed data center sites with milestones and matching hiring observations.
- [Earnings changes (JSON)](https://nbistracker.com/api/earnings): Publishable quarter-to-quarter changes.
- [Reading lines (JSON)](https://nbistracker.com/api/readings): The plain-language explanation attached to every tracked metric.
- [Adapter run log (JSON)](https://nbistracker.com/api/methodology): When each automated source was last checked and whether it succeeded.
- [Signals (CSV)](https://nbistracker.com/api/export/signals.csv): Flat export of the signal ledger.
- [Sites (CSV)](https://nbistracker.com/api/export/sites.csv): Flat export of site status, capacity and evidence.
- [Hiring radar (CSV)](https://nbistracker.com/api/export/radar.csv): Metro and month hiring observations.
- [Priority signal feed (Atom)](https://nbistracker.com/signals.xml): Site, hiring, capacity, funding, GPU pricing, ownership and platform changes. Routine filing traffic stays out.
- [Full metric glossary (Markdown)](https://nbistracker.com/llms-full.txt): Every tracked metric with its full reading line, in one file.

## Not on this site

- No price target, rating, recommendation or investment advice.
- No estimated or interpolated figures presented as observations. Where a quantity is not disclosed, the site says it is not disclosed rather than filling the gap.
- No real-time share price. The header quote is delayed and labelled with its market timestamp.