The latest data point for NBIS shows a P/S Ratio of 60.247 for the fiscal period Q1'26. This represents a slight decline from the preceding quarters but remains significantly elevated compared to the historical levels seen in early 2024. The chart data from Q2'23 to Q1'26 reveals a dramatic shift in valuation, characterized by two distinct phases. Initially, the ratio remained stable and low, fluctuating between 0.719 and 0.967 through Q3'24, before experiencing a massive surge to 45.606 in Q4'24. Since this inflection point, the P/S Ratio has remained highly volatile at these elevated levels, peaking at 93.983 in Q2'25 before stabilizing in the 60.247 to 66.015 range during the most recent fiscal periods.