Out Fox The $treet

Update - May 20, 2026 Nebius is paying $2.6B for energy supplies over the next 10 years via systems from Bloom Energy, but isn't clear on how much Bloom Energy collects since it's only installed capacity of 328 MWs. The chart looks challenged here failing to top the recent highs.  -Bloom Energy (BE) up 10.9% in Wednesday's trading after artificial intelligence infrastructure provider Nebius (NBIS) disclosed it entered into a fuel cell capacity agreement with the company worth as much as $2.6B in total monthly services fees. -In a 6-K filing, Nebius (NBIS) said on May 14 it entered into a master fuel cell capacity agreement and related system orders with Bloom Energy (BE) in which it will purchase the capacity and associated electricity generated by the power supply systems, and Bloom will install, operate and maintain the power supply systems. -The power capacity being provided under the agreement is expected to come in three phases, each with a supply term of 10 years, and...

  Super Micro Computer continues to see robust AI demand and innovative infrastructure products outweigh recent internal and external controversies. SMCI posted a revenue miss in FQ3'26 due to data center delays but exceeded earnings targets, with gross margins rebounding to 9.9% (10.1% non-GAAP). Management maintains FY26 revenue guidance near $40 billion and is rapidly expanding manufacturing capacity, targeting far over $100 billion in annualized output. The stock only trades at ~10x conservative EPS targets with a base case for far higher EPS targets based on the revenue capacity and normalized gross margins. Super Micro Computer, Inc.  ( SMCI ) has been in the hot seat the last couple of years due to internal and external employee actions, but the company always seems to come out strong. Due to overwhelming AI demand and compelling AI  infrastructure products, customers appear to quickly move beyond ethical concerns. My  investment thesis  remains ultra bul...

Update - May 7, 2026 CoreWeave reports backlog surges to nearly $100 billion. Solid quarter, but the neocloud remains in the early phases of growth. CoreWeave has plans to grow 8x by 2030 with 8 GW of power versus only 1 GW to end Q1.  The stock has finally rallied off the lows, but the stock still has plenty of resistance above $140.  Update - April 9, 2026 CoreWeave could have a backlog approaching $90 billion now after signing a new $21 billion deal with Meta Platforms. The neocloud guided to Q1'26 revenue of up to $2 billion, so the backlog starting point is $85 billion plus what additional unannounced deals contribute to the backlog.  -CoreWeave shares rose 7% in premarket trading Thursday after the company announced an expanded long-term agreement with Meta Platforms (META) to provide AI cloud capacity through December 2032, valued at about $21B. -The deal builds on an existing partnership and will support Meta’s AI development, with the company using CoreWeave’s pl...

  Cipher Mining, rebranding as Cipher Digital, is pivoting from bitcoin mining to AI data center leasing, with major contracts secured. CIFR has $9.3 billion in long-term leases with AWS and Google, covering only a fraction of its 4+ GW power capacity, highlighting substantial future monetization potential. Despite near-term revenue gaps and execution risk, CIFR trades at 10x NOI from existing leases, with significant upside as additional contracts are secured. Future lease announcements and successful hyperscaler data center operations are key catalysts, while risks include execution uncertainty and potential shifts in data center demand. Cipher Mining Inc.  ( CIFR ) recently entered the AI data center race, so quarterly results were expected to be volatile until the business scales. The company has signed substantial leases for data centers, but investors have to be patient with leases not  starting until end of this year. My  investment thesis  is more Bullis...

Update - Feb. 20, 2026 CoreWeave is slumping due to a misleading report from BI. The AI cloud company has not run into problems financing a data center in PA despite the reporting. The company has already completed the data center financing as reported in the BI article and confirmed on air by Jim Cramer after exchanging messages with the CEO.  Update - Jan. 26, 2026 NVDA  wisely buying into  CRWV  at less than 4x '26 sales and close to 2x '27 sales. The market doubting this AI data center story was crazy. -Nvidia (NVDA) has invested $2B in CoreWeave (CRWV) and expanded their collaboration to help CoreWeave accelerate the buildout of over 5 gigawatts of AI factories by 2030. -Nvidia invested $2B in CoreWeave Class A common stock at $87.20 per share. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios.  Learn More » Original article posted on Nov. 17  CoreWeave remains an ultra ...

  Cipher Mining has secured major AI data center leasing deals with AWS and Fluidstack, totaling billions in long-term contracted revenues. The company is not providing AI compute services, instead acting as a power shell lessor, avoiding GPU risk but limiting upside to real estate-like returns. Near-term revenue remains dominated by bitcoin mining; AI data center revenues begin in late 2026, with consensus projecting $1B in 2027 sales. The stock trades at nearly 7x 2027 sales, faces substantial debt, and lacks near-term catalysts, making the stock a Neutral given long lead times for capacity expansion. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios.  Learn More » Cipher Mining Inc. ( CIFR ) recently entered the AI data center race with major deals with hyperscaler customers. The bitcoin miner is part of a group of companies transitioning from running data centers for crypto mining  to ...

Update - Oct. 28, 2025  The big AI deals just keep coming. -TeraWulf shares jumped 20% in Tuesday morning trading after the company said it struck a 25-year AI compute joint venture with Fluidstack to build 168 megawatts of high-performance computing ("HPC") capacity at its Texas campus. -The deal represents about $9.5B in contracted revenue to the joint venture, with TeraWulf holding a 51% stake. It's possible the lease term may be shortened to 20 or 15 years. The total cost of the project is expected to be $8M-$10M per MW of critical IT load. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios.  Learn More » Original article posted on Oct. 9  TeraWulf is quickly transitioning from bitcoin mining to a digital infrastructure provider, securing major AI hosting contracts and Google backing. WULF's expanded deal with Fluidstack and a $3.2 billion Google commitment position the company for $...

Despite the market uncertainties, AMD (AMD) remains a strong stock. In late Thursday trading, the sock ran into major resistance at $50. The chart appears to show a stock ready for a major breakout. My advice as long recommended this period is the last chance to buy AMD below $50. Any dip here is a buying opportunity. More research on Seeking Alpha: AMD: Work From Home Boost AMD: Right On Target AMD: Last Chance Below $50 Update April 10 Intel (INTC) says demand picked up for chips. Source: No position. Long in Out Fox model. Please review the disclaimer page for more details. 

The New Horizon event unleashed a big horizon for 7nm chips in the datacenter space. The AWS deal reduces the risk to the investment story. Analyst estimates for 2019/2020 are only taking into account baseline server CPU market share gains. The recent dip in  Advanced Micro Devices  ( AMD ) to below $17 and Monday's drop to $19 are rare opportunities to own a tech company on a major dip in front of a massive new product release. The  Next Horizon event highlighted the big opportunity in the  datacenter,  reinforcing our  bullish investment thesis . Read the full article on Seeking Alpha.  Update 11/15 : AMD closed down 5% in after-hours trading due to weak results from Nividia (NVDA). Those results shouldn't impact the market share gains expected of AMD in 2019 and beyond. Disclosure: No position mentioned. Please review the disclaimer page for more details. 

In a previous article focusing on the redevelopment plans for the massive real estate held by Sears Holdings ( NASDAQ: SHLD     ) , the secret plans to develop some of the less desirable stores into data centers wasn't even discussed. With so many plans under way to create value mostly unannounced by the company, it can be difficult to cover all of the opportunities in one article. The company as well has made interludes into working on big data projects further highlighting the potential of re-purposing existing real estate into highly valuable alternatives.   Read the full article here . Disclosure: Long SHLD. Please review the disclaimer page for more details. 

After the 50% plunge in Rackspace Hosting (NYSE: RAX ) , one has to wonder what is holding Equinix (NASDAQ: EQIX ) up near all-time highs. The stock has shown some fatigue since the Rackspace disappointment, but it appears now set for a test of the recent highs over the $230 level. Not a scenario suggestive of a stock on the verge of a plunge. A leader in the data collocation field, Equinix more » Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

Hardly a week goes by these days without a company going public with a decent yield. A couple of weeks ago CyrusOne (NASDAQ: CONE ) joined the party with a highly successful IPO pricing above the expected range and trading higher for the week. The REIT though has a meager expected dividend yield of only 2.9%. The company is a spin-off data center operator from majority owner Cincinnati Bell (NYSE: CBB more » ) Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

Has a leading data center firm finally seen the stock stall after a strong year of gains? Equinix (NASDAQ: EQIX ) now trades at a phenomenal 67x forward earnings yet investors apparently can’t get enough of the stock with it up 120% since the start of 2012. While the stock surged to a multi-year high last week, the data center firm continues to spend more on capital expenditures than operations more » Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

After the close on Tuesday, Rackspace Hosting (RAX) posted earnings that beat analyst estimates and sent the stock soaring over 11% in after hours trading. Revenues jumped 29% year-over-year and net income soared 43% from last year. The company is a leading provider of public and private cloud and hybrid and dedicated hosting services. It delivers open technologies and powers more than 190,000 customers worldwide Unfortunately though for a company with a market cap of $6.6B, it continues to report relatively low free cash flows. This quarter the total free cash flow was only $28.7M or just over $100M on a annualized basis. Read the full article on Seeking Alpha. Disclosure: No positions mentioned. Please review the disclaimer page for more details. 

After the close last night, Verizon Communications (VZ) agree to buyout Terremark WorldWide (TMRK) for $19. The stock closed just above $14 yesterday providing for a 35% pop today. TMRK was one of the larger holdings in the Opportunistic portfolios so that initially gave those portfolios a nice pop today. Unfortunately the market has become overly worried about a little disturbances in Egypt and the market has sold off since the opening. Did we learn anything from Greece? The main reason we're excited about this offer from Verizon is that TMRK was on the list of stocks to sell. TMRK has had a huge gain over the last year due to its cloud offerings and growth. Unfortunately though they continue to borrow money to open new centers and lack actual profits. Considering the path to profits leads us to at least 2012, this investment had become extremely risky. Its interesting that VZ claims the deal will have no impact on earnings in 2011. Possibly TMRK is so small that any impact ...

Terremark Worldwide (TMRK),  a leading global provider of managed IT infrastructure services,  continues to report strong growth for their data center space. TMRK reported 22%YoY growth and 8% sequential growth. Also important is that growth is accelerating with only 20% growth in the prior quarter. EBITDA grew at 27% YoY and 19% QoQ showing that margins are starting to expand as TMRK is reaching critical mass and improved utilization rates.  TMRK also upped guidance for fiscal Q3 and FY 2011 as the outlook continues to improve including growing international demand including Brazil and Amsterdam. Cloud revenue has now grown to a $30M run rate and more then double last years run rate. While still below 10% of total revenue, it continues to grow at a fast clip and will become a more important part of the story. Another important part of the story is the interest expense load. TMRK reported a $6M operating profit this quarter, but faced $14M in interest expenses. From ...

After the close, Terremark ( TMRK ) announces a dela with Verizon Business, unit of Verizon ( VZ ) to utlize 25,000 sq/ft in the Miami and Virgina data centers. At first glance this seems like a significant deal for TMRK, but no financial terms were released. The main reason given for the win is that TMRK has data centers that meet or exceed federal standards and Verizon Business has a thriving business with the governemnet. Anybody following us knows that our big reason for buying TMRK originally was its connection to the governements movement on the internet. As part of the agreement, Verizon will utilize 25,000 square feet of colocation space at Terremark’s world-class NAPs in Miami, Florida and Culpeper, Virginia that are designed to meet or exceed federal government standards for data communications and hosting facilities requiring stringent guidelines for power and cooling redundancy. “When looking at the federal space, Terremark has clearly distinguished itself as a leader in pr...