NU: When 135 million clients rebuild a bank from scratchNu Holdings Ltd. Class ABATS:NUTotoshkaTradesNu Holdings started as a neobank in São Paulo and today is building an AI ecosystem for 135 million customers across Latin America, managing credit cards, savings and investments. The company trades on the NYSE, and everyone who understands that digital banking is no longer about mobile apps but about artificial intelligence is watching. Q1 2026 Report Results were released on May 14. Managerial revenue exceeded $5 billion for the first time, reaching $5.32 billion, up 42% year over year. Net income came in at $871 million, up 41% year over year. Customer base surpassed 135 million: Brazil over 115 million, Mexico 15 million, Colombia nearly 5 million. In Mexico, the company became the third-largest financial institution and reached break-even for the first time. The loan portfolio grew 40% year over year to $37.2 billion. The efficiency ratio improved to 17.6%. Over 15 million users use the AI Private Banker monthly. Nu‘s proprietary NuFormer foundation models are already in production for credit decisioning in Brazil and Mexico. Corporate Events On June 4, the board of directors approved a $1 billion share buyback program over the next 12 months. All growth investments across Brazil, Mexico, Colombia and the US remain fully funded. In January, Nu received conditional approval from the OCC to establish Nubank N.A., a national bank in the US. Risks On June 1, the company announced a CFO transition: Guilherme Lago moves to a special advisor role on July 13, and Rob Livingston, former CFO of Visa North America, becomes the new CFO. The company describes the move as planned, but the market reacted with a 5–8% drop. Loan loss provisions rose 33% quarter over quarter to $1.79 billion. Risk-adjusted net interest margin declined 100 basis points to 9.5%. The 15–90 day NPL ratio increased to 5.0%, which the company attributes to seasonality and deliberate expansion into riskier segments. Technicals On the two‑week chart, price is moving within a rising channel and is testing the support zone where the 100‑day moving average converges with the 0.786 Fibonacci retracement. The buy zone is 10.57–11.11 dollars. Monday‘s close (June 8) was 11.60 dollars. Volume over the last week is significantly above multi‑month averages, indicating institutional presence. Institutional investors own approximately 84% of the shares. ADX and MACD remain in neutral territory. The first target is 16$, the second 19$. The $1 billion buyback program and conditional US bank approval provide fundamental support. Risk-adjusted margins and the CFO transition keep valuations in check. Technically, price is testing the accumulation zone with rising volume.