NBIS 2026 ARR market-cap valuation using CRWV and BRUN comps

Nebius Group N.V. (NBIS)

By@hypertonx

Assumptions as of 2026-06-12

USD

Updated Jun 20, 2026

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NBIS 2026 ARR market-cap valuation using CRWV and BRUN comps

as of 2026-06-12

CRWV mkt cap / 2026 ARR

3.0

BRUN mkt cap / 2026 ARR

6.2

Blended comp multiple

4.6

Applied NBIS multiple

4.6

NBIS current mkt cap / 2026 ARR

7.4

NBIS target market cap

$36.8

NBIS price target

$145.10

Upside / downside

-37.6%

Implied NBIS shares

253.9

BRUN EOY 2026 ARR ($B)

$0.4

BRUN market cap ($B)

$2.5

CRWV EOY 2026 ARR ($B)

$18.5

CRWV market cap ($B)

$54.9

CRWV weight in comp blend

50.0%

NBIS EOY 2026 ARR ($B)

$8.0

NBIS current market cap ($B)

$59.0

NBIS current share price

$232.36

NBIS premium / discount to blend

0.0%

Sources

Nebius Q1 2026 shareholder materials show guidance for $7B-$9B ARR by FY2026 year-end. — assets.nebius.com
CoreWeave Q1 2026 materials guide to $18B-$19B annualized run-rate revenue exiting 2026. — s205.q4cdn.com
Boost Run's June 2, 2026 investor update shows FY2026E ARR of $400M+ and reconciles ARR as a non-GAAP operating metric. — boostrun.com
Boost Run's May 11, 2026 Nasdaq listing press release disclosed the prior FY2026 exit ARR outlook of at least $375M. — sec.gov
Current market prices and market capitalization inputs were pulled from Modeledge market data on June 12, 2026. — modeledge.ai

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