Servers, networks, and the companies that rent them to you by the hour.
The physical machines and the businesses that rent them out, from Amazon and Microsoft down to specialist GPU landlords.
Sits on silicon and power, carries models. Capex here stopped being a demand signal this year and became a cost signal, because the same gigawatt now costs more to fill.
· 3 min
A syndicate of Taiwanese commercial banks, not foreign venture capital, financed GMI Cloud's AI data center buildout, and the borrower's own numbers confirm how much.
· 5 min
MLCommons published MLPerf Inference v6.1 with a record 30 submitting organisations and, for the first time, a test of AI agents doing multi-step work such as coding.
· 7 min
Nscale's filing to go public puts a number on something the AI build-out usually keeps vague: $103.4 billion of contracts, of which $2.6 billion is actually online and earning.
· 5 min
Crusoe raised $3.9 billion at a $30.9 billion valuation, almost exactly matching what anonymous sources had told a financial outlet two weeks earlier.
· 5 min
Eight companies, organised by Nvidia, say they will build enough AI computing capacity in Australia to draw as much power as a large power station many times over.
· 6 min
A quarterly filing shows the promise of future AI revenue growing much faster than the cash on hand to build the data centres behind it.
· L3 Iron and cloud · NT$14.05bn (~$445m) · Confirmed
Fourteen Taiwanese banks, led by CTBC Bank, together lent NT$14.05 billion, about $445 million, to GMI Cloud to help build an AI data center in Taoyuan. GMI Cloud's own announcement of its wider $668 million financing round independently confirms the $445 million figure. Chinatimes and UDN name the other 13 banks in the syndicate, but their account of the 2.5-times oversubscription and the Taiwan-first claim traces to the same CTBC-arranged release as CNA's, not to separate reporting. For Taiwan, it is a sign that local banks, not just foreign investors, now see AI infrastructure as a safe enough bet to lend against directly.
· L3 Iron and cloud · $668 million · Confirmed
GMI Cloud, a company that rents out AI computing power, raised $223 million in equity and a separate $445 million credit facility led by Taiwan's CTBC Bank, for a combined $668 million. The company said its contracted annual revenue has grown more than ninefold since the end of 2025. Most of the new money is debt, not equity, which means GMI Cloud is betting it can earn enough from renting out chips to pay the loan back. It's a sign that lenders, not just venture investors, are now willing to bankroll AI computing buildouts directly.
· L3 Iron and cloud · $1.008bn; 6.78% fixed; to 2033 · Confirmed
Lambda, a cloud company that rents out Nvidia computer chips for AI work, has closed a $1.008 billion loan to pay for more of the computers it buys and leases out. The loan carries a fixed interest rate of 6.78 percent and is due in 2033, and is backed by the GPU servers themselves plus payments Lambda already has coming from two large customers it hasn't named. Borrowing against already-signed customer payments, rather than raising money by selling shares, is how several AI-cloud companies are funding their buildout right now; it means the computers get built, but it also means Lambda now owes over a billion dollars whatever happens to AI demand later.
· L3 Iron and cloud · $540m gross; $170.55m to company · Confirmed
Accelevation Holdings, a company that builds AI computing infrastructure, sold shares to the public for the first time, pricing its stock at $18 each and raising $540 million in total. After paying underwriters and other costs, the company itself will keep about $170.55 million of that to spend on its business; the rest went to existing investors selling shares. Going public is one of the ways AI-infrastructure companies are raising the money needed to keep building, alongside the larger private loans and leases that dominate this part of the industry.
· L3 Iron and cloud · $1.2bn; 72 GPUs/rack · Confirmed
HPE will build $1.2 billion worth of AI computer racks for the cloud company Vultr using AMD's new Helios design, with each rack packed with 72 AMD Instinct MI455X chips. It's HPE's first order for this AMD rack. The computers will run in the United States, though neither company has said how many racks that is or when they'll be ready.
· L3 Iron and cloud · $1bn combined; $500m from Samsung Electronics · Confirmed
Samsung Electronics and five other Samsung companies said on 29 September that they are investing a combined $1 billion in Helix Digital Infrastructure, with Samsung Electronics putting in $500 million and the other five the rest. Helix, launched in June 2026 and led by Adam Selipsky, the former chief executive of Amazon Web Services, describes itself as covering data-centre development and operation, power generation and other infrastructure behind AI. KKR, the Kuwait Investment Authority, Nvidia and the power company Vistra are its other founding investors. Samsung's announcement does not name a project the money will fund, so nothing is being built with it yet that anyone can point to.
· L3 Iron and cloud · $240.9m; 2,000+ B300 GPUs; two clusters; take or pay · Confirmed
QumulusAI, which rents out computing for running AI models, said on 29 September that it signed agreements with a combined contracted value of $240.9 million covering more than 2,000 Nvidia Blackwell B300 processors across two dedicated clusters. Both are three-year take-or-pay agreements, meaning the customer pays for the capacity whether or not it uses it. It says the first customer's commitments with it now total more than $283 million and the second's more than $61 million. For the wider market, it is another multi-year contract that pays for new AI computers before they are switched on.
· L3 Iron and cloud · $1.07bn revolving facility, 4 years, 12 lenders · Confirmed
Hut 8, a company that builds power and data-centre sites for energy-hungry computing, announced on 28 September a $1.07 billion four-year senior secured revolving credit facility, which the 8-K it filed the release with says closed on 24 September, provided by a syndicate of 12 lenders with J.P. Morgan as lead left arranger. Part of it can be drawn as letters of credit, which support collateral for site development, including deposits for connecting to the grid. For the wider market, it is another sign that large banks are lending to companies building the sites AI runs in.
· L3 Iron and cloud · $3.36bn: $2.36bn at closing, $1bn from Nvidia in mid-November 2026 · Confirmed
Nscale, a British company that builds and rents out AI computing, says it has raised $3.36 billion through convertible loan notes, a loan that turns into shares later, led by Third Point. $2.36 billion came in at closing, and Nvidia has committed a further $1 billion, expected in mid-November 2026. The notes turn into shares automatically when Nscale completes its initial public offering, with Nvidia getting shares that carry no vote. Other investors include funds managed by Apollo, Citadel, Hudson Bay Capital, the Abu Dhabi Investment Council and 8090 Industries. Nscale's listing filing, covered here on 18 September, first described these notes.
· L3 Iron and cloud · 77 providers tested; 19 earned a Medallion rating; 15 in a new lower tier · Confirmed
SemiAnalysis, a research firm, has published the third edition of its ClusterMAX ratings of companies that rent out AI computing, covering 77 providers. It puts Nebius alongside CoreWeave in its top tier, Platinum, and adds Google Cloud to Gold beside Oracle. Microsoft Azure moves to Silver and Crusoe drops to Bronze. SemiAnalysis says it raised its bar this round, so only 19 providers earned what it calls a Medallion rating, and it created a new Participation Ribbon tier below Bronze for 15 providers it says "do the bare minimum to get by." The ratings are the firm's own judgement, built from its tests of reliability, performance, support, pricing and security, and from interviews with more than 200 users.
CoreWeave · Nebius · Microsoft Azure · Crusoe
· L3 Iron and cloud · ~$2.8bn over initial terms at 85MW, ~$5.4bn with renewals; CoreWeave $50m + $30m · Confirmed
Blockfusion, a data-centre developer going public by merging with Blue Acquisition Corp, says in an investor presentation filed on 25 September that its 15-year anchor lease with CoreWeave at its Niagara Falls, New York campus is now executed. The site is powered by hydro, nuclear and renewable energy. The lease covers 35 megawatts, and an expansion agreement takes it to 85 megawatts if Blockfusion secures more power and CoreWeave approves the plan. On 85 megawatts, Blockfusion expects about $2.8 billion of revenue over the initial terms, or about $5.4 billion if CoreWeave uses all its renewal options. CoreWeave has committed $50 million to Blockfusion and put in $30 million more through a warrant over its shares, most of which paid down Blockfusion's debt.
· L3 Iron and cloud · $11.6bn over 7 years; up to about $20bn; about $5.5bn capex; warrant up to about 5% · Confirmed
Akamai says Anthropic has signed $11.6 billion of contractual commitments over seven years to use Akamai's cloud, to handle Anthropic's growing CPU workloads, the work done by general-purpose processors. Akamai expects the deal to need about $5.5 billion of capital spending, including about $1.7 billion more this year to secure parts such as memory in advance. The deal can grow by up to $9 billion more, to about $20 billion, and Anthropic received a warrant for up to about 5 percent of Akamai's shares, about 2 percent of it vesting with this deal and the rest tied to the deal growing. Nothing changes for people using Claude today.
· L3 Iron and cloud · lease 10 to 20 years; contracted revenue $3.8bn to over $9bn · Confirmed
Cipher Digital, which builds and runs large data centres, says it has extended the lease on its Barber Lake site in Colorado City, Texas, from 10 years to 20, raising the site's contracted revenue from $3.8 billion to more than $9 billion. The current lease with Fluidstack runs first; a binding commitment from an unnamed 'leading AI lab' then takes the site for 10 more years, worth about $5.2 billion. Cipher will also pay the first $359.3 million of any costs above the initial budget, and the data halls will now be handed over in stages. Nothing changes for ordinary people.
· L3 Iron and cloud · 22,000 GPUs in early 2027; 48,000+ in total; 100+ MW · Confirmed
Aolani, a Singapore-founded AI cloud company, said on 21 September it had signed a compute collaboration with Nvidia. Under it, 22,000 Nvidia Blackwell Ultra GPUs are expected to be deployed across two AI data centres, which it calls AI factories, in Malaysia and the Philippines in early 2027, taking Aolani past 48,000 GPUs and more than 100 megawatts of capacity. It says a revenue-sharing and credit-support model will tie the build-out to customer demand, and it gives no dollar figure. It expects the Philippine site to be among the first large-scale AI computing platforms in the country.
· L3 Iron and cloud · $189m (€163m) Series B; $450m+ raised in total; 250+ MW in 2027 · Confirmed
Verda, an AI cloud company with data centres running in Finland, said on 22 September it had raised $189 million, about 163 million euros, in an oversubscribed Series B led by Emergence Capital, which it says makes it Europe's latest unicorn, the name for a private company valued at $1 billion or more. Its total funding, equity and debt together, is now over $450 million. It says it reached a $165 million annual revenue run rate in July and will have more than 250 megawatts of operations in 2027, with capacity coming online in Europe, the UK, the US and Asia, and that it expects early deployments of Nvidia's VR200 NVL72 systems in the coming months.
· L3 Iron and cloud · $65m a year; Crusoe's inference business past $100m contracted ARR · Confirmed
Crusoe, a GPU cloud company, and Thinking Machines Lab announced on 23 September a $65 million annual agreement for Crusoe to run the lab's open models, including its Inkling models, for its production workloads. The work runs on a dedicated deployment of Nvidia HGX B200 systems that Crusoe operates and supports. This is inference, the computing that happens every time someone uses an AI model, as opposed to training it. Crusoe says the deal takes its managed inference business past $100 million of contracted annual recurring revenue less than a year after launch.
· L3 Iron and cloud · target: 20GW+ of capacity by 2032 · Confirmed
Alibaba Group's chief executive, Eddie Wu, told the company's annual Apsara Conference in Hangzhou on 22 September that its target is for the data centres Alibaba Cloud runs around the world to pass 20 gigawatts of capacity by 2032. A gigawatt is roughly what one large power station produces. This is a stated target, not a signed contract, a budget or a building plan, and the speech does not put a cost on it. It tells you Alibaba means to keep building AI computing for years to come; nothing changes for users of its cloud or AI products now.
· L3 Iron and cloud · H100 +~17%; B300 +~21%; B300 +~56% over two rounds · Reported
Nebius, a cloud company that rents out Nvidia chips for AI work, has told customers it will raise prices for its on-demand GPU cloud services from 1 October, according to Proactive, a financial news service: about 17 percent more for Nvidia H100 instances, about 21 percent more for the newer Nvidia B300, and 25 percent more for AMD EPYC Genoa processors. The report says this is Nebius's second round of increases in a few months, taking the total rise for B300 instances to about 56 percent. This desk could not read a matching notice on Nebius's own site, so the item runs as Reported. For most people nothing changes directly; this is a price paid by companies that rent these chips.
· L3 Iron and cloud · 30 orgs (record); DeepSeek R1 best per chip 5.7x in a year · Confirmed
MLCommons published results for MLPerf Inference v6.1 on 16 September, its industry-standard, peer-reviewed benchmark of how fast AI systems run, with a record 30 organisations submitting, including Nvidia, Microsoft Azure, Oracle, CoreWeave, Nebius and Lambda. For the first time it includes a test of AI agents: the Edge Agentic Inference test, which measures multi-turn work such as agentic coding, where each step depends on the ones before. MLCommons says the best per-chip result on its visual-language test improved 2.99 times in six months, and on the DeepSeek R1 reasoning test 5.7 times in a year. For people using AI tools, MLCommons says gains like these could let the same systems serve more users.
Read the story: MLPerf, the AI industry's standard speed test, adds its first test of AI agents as a record 30 organisations take part · Nvidia · Lambda · Oracle · Microsoft Azure · CoreWeave · Nebius
· L3 Iron and cloud · $2.6bn active vs $103.4bn active and contracted TCV; $1.02bn loss on $140.6m revenue · Confirmed
Nscale, a European company that rents out Nvidia AI chips to other businesses, filed to go public in the United States on 18 September, opening its books for the first time. Revenue for the first half of 2026 was 140.6 million dollars against 10.4 million a year earlier, a rise the filing itself states as 1,252 percent. Over the same six months it lost 1,020.1 million dollars. The number to hold onto is the split in its order book: the filing reports approximately 2.6 billion dollars of active total contract value and 103.4 billion dollars of active and contracted. Active means capacity that is online and earning. So about two and a half percent of the headline figure is a live business today and the rest is capacity still to be built and delivered. Reuters adds that Nscale agreed this week to sell 3.1 billion dollars of convertible bonds, including 1 billion to Nvidia, and is targeting a listing valuation around 30 billion. If the listing goes ahead it becomes one of the largest public tests yet of whether investors will fund the gap between contracted and delivered.
Read the story: A GPU cloud opened its books, and the gap between promised and delivered is 40 to 1 · Nscale
· L3 Iron and cloud · $3.9bn initial closing at $30.9bn post-money; over $140bn contracted value · Confirmed
Crusoe, which builds and runs data centres purpose-built for AI computing, said on 17 September that it has closed the first part of a 3.9 billion dollar Series F at a 30.9 billion dollar post-money valuation. The round was co-led by Atreides Management, Mubadala Capital and Valor Equity Partners, with Founders Fund, GIC, Nvidia, the Qatar Investment Authority, Radical Ventures and TPG also named, and Crusoe calls it an oversubscribed initial closing of a round not yet complete. The company's own release also claims over 140 billion dollars of total contracted value across its platform, a figure it does not break down. That lands in the same week as Nscale's filing, which shows what such a number can hide: Nscale's comparable figure is 103.4 billion, of which 2.6 billion is live. Crusoe publishes no equivalent split. The confirmed valuation also lands within a billion of a 30 billion figure anonymous sources gave a financial outlet two weeks earlier.
Read the story: A rumoured number about an AI-cloud company became a real one, within a billion · Crusoe
· L3 Iron and cloud · RM385.7bn approved, 2021 to H1 2026 · Confirmed
Malaysia's investment authority, MIDA, said at a conference on 14 September that the country has recorded 385.7 billion ringgit, roughly 84 to 85 billion US dollars, of data centre related investment approvals cumulatively from 2021 through the first half of 2026. Two things to hold onto. It is a stock figure covering five and a half years, not money committed this week. And it counts approvals rather than money spent and capacity delivered, which is the same distinction Nscale's filing drew this week between contracted and active. This desk could not find a comparable prior-year total on MIDA's own site, so how fast the figure is growing is not something we can show. Malaysia is competing with Singapore and Indonesia for the same projects, and a number this size at a dedicated data centre conference is the argument that its strategy is working.
· L3 Iron and cloud · 65.1 MW, pipeline over $7bn · Confirmed
Bitdeer, a company that started out mining bitcoin and has been shifting into renting out AI computing power, signed a ten year data centre services agreement for A202, a 65.1 megawatt facility on its existing campus in Johor Bahru, Malaysia. The company says this takes its secured AI cloud capacity, meaning capacity it owns or has under an executed agreement, to approximately 206.5 megawatts, about 59 percent of its target of up to 350 megawatts to be delivered by the first quarter of 2028, and that its active pipeline for AI cloud capacity is now estimated to exceed 7 billion dollars. A pipeline is potential business, not signed business. For most people nothing changes; this is infrastructure being built in Southeast Asia to rent computing power to AI companies.
· L3 Iron and cloud · $1.1bn a month reported · Reported
SpaceX signed a new AI computing deal worth 1.1 billion dollars a month, about 13 billion dollars a year, according to comments its chief financial officer Bret Johnsen made at a Goldman Sachs conference, reported by Yahoo Finance. The customer has not been named, the deal was signed earlier in September and payments begin in December. No company document confirming the terms could be found, so this runs as Reported. The same account says SpaceX already hosts AI computing for Anthropic at 1.25 billion dollars a month through May 2029 and for Google at 920 million dollars a month through June 2029, and that this is a separate new arrangement. For most people nothing changes today; this is a corporate financial disclosure about infrastructure.
· L3 Iron and cloud · about 38 GW by 2032, from about 12 GW · Reported
Bloomberg News reported, citing people it did not name, that Microsoft plans to more than triple its data centre capacity to about 38 gigawatts by 2032, up from about 12 gigawatts today. We read this through a trade outlet's account of Bloomberg's reporting rather than Bloomberg itself, which is why it runs as Reported. Microsoft has not confirmed the target, and the account says the company did not immediately respond to a request for comment. If accurate it would be one of the largest capacity expansions by any single cloud company. Nothing changes today; this is an unconfirmed report about long term planning.
· L3 Iron and cloud · 850 MW, 300,000+ GPUs · Confirmed
Oracle's quarterly earnings release says the company delivered 850 megawatts of additional data centre capacity and more than 300,000 GPUs, the specialised chips that run AI, to its cloud customers in the three months to August 2026. Oracle describes the quarter's delivery as almost triple the capacity it delivered in the preceding quarter. The same release carries the 664 billion dollar order backlog already on this site, so this is the first look at how fast that backlog is turning into working capacity rather than signed promises. The figures are Oracle's own; no outside party has confirmed them. Nothing changes for most people today; this is a disclosure about construction pace, not a price or a product.
· L3 Iron and cloud · $664bn RPO, up $209bn year over year · Confirmed
Oracle, the database and cloud company that has signed some of the largest AI computing contracts in the industry, said its remaining performance obligations, a measure of contracted future revenue, rose to $664 billion in the quarter that ended 31 August, up $209 billion from a year earlier. RPO is a promise from customers to pay Oracle later, not cash Oracle has today. To build the data centres behind those contracts, Oracle spent $28.5 billion on capital equipment in the quarter, more than its entire $19.3 billion of revenue, and its free cash flow was negative $5.4 billion, the sixth straight quarter it has gone the wrong way. Oracle says it still expects at least $90 billion in total revenue for the fiscal year. For anyone who owns Oracle stock or bonds, or lends to companies like it, this quarter is the plainest evidence yet that Oracle's own AI buildout is being financed by borrowing and prepayment against future revenue, not by cash already in hand.
Read the story: Oracle's cloud backlog hits $664 billion, and the company is burning cash to build it · Oracle
· L3 Iron and cloud · $5bn initial commitment, 500 MW in 2027 · Confirmed
Crux AI launched with an initial 5 billion dollar equity commitment from funds managed by Blackstone, to build large dedicated AI computing sites for AI labs and large companies. Google provides the chips, its own TPUs, along with software and services, and is not named as an investor or owner in the launch release. Crux AI says it plans to bring its first 500 megawatts of TPU capacity online in 2027 as the initial phase of a multi-gigawatt roadmap. It is run by Benjamin Treynor Sloss, who spent more than two decades at Google and originated the discipline of site reliability engineering, and trade outlet Data Center Dynamics reports it has hired Meta's data centre engineering head. For most people nothing changes yet; this is a new company built to supply computing power to AI companies.
· L3 Iron and cloud · up to $3.1bn, 1 GW target · Confirmed
Zankore, an Indonesian company, signed a senior term loan facility of up to 3.1 billion US dollars to build data centres using Nvidia hardware. It is building an initial 100 megawatts, says it expects approximately 200 megawatts of initial capacity in the first half of 2027, and is targeting 1 gigawatt eventually. The release does not make clear whether the 200 megawatts includes the first 100 or sits on top of it. This is a large financing in Southeast Asia, a region that gets far less AI infrastructure coverage than the United States or China. Nothing changes for ordinary people yet; this is financing and construction, not a product reaching anyone.
· L3 Iron and cloud · up to 2 GW by 2027 · Confirmed
Nvidia, which designs the chips most AI computing runs on, announced that eight data centre and cloud companies in Australia plan to build up to 2 gigawatts of AI computing capacity between them by 2027. A gigawatt is roughly the output of a large power station; 2 gigawatts would be a very large buildout for one country. In the announcement, the cloud company Sharon AI said it is deploying up to 68,000 Nvidia GPUs, the data centre operator CDC said it already runs more than 550 megawatts of capacity in Australia and New Zealand with 800 more under construction, and IREN pointed to its 800 megawatt Bundey campus in South Australia. This is Australia's first appearance in Strata's graph of tracked AI stack events. For an ordinary person in Australia, nothing changes today, but a buildout at this scale is the kind of thing that shows up later as electricity demand and grid investment in your area.
Read the story: Australia joins the AI buildout race with a coordinated two-gigawatt pledge · Nvidia
· L3 Iron and cloud · 200 MW targeted · Confirmed
Egypt's communications ministry says its minister witnessed the signing and launch of new partnerships, including one between Vodafone Business, Elsewedy Electric and Cassava Technologies to found Africa Data Centres Egypt. The ministry's release says the project targets an initial 20 megawatts in its first three years, with an expansion path targeted at 200 megawatts, and that it is expected to attract about 200 million dollars of foreign direct investment in its first phase, with total investment reaching one billion dollars once the targeted capacity is complete. Elsewedy Electric, which is listed in Cairo, sent the same figures to the Egyptian Exchange. Every number here is a target, not a spend. The ministry expects up to 200 direct jobs and about 2,000 indirect ones, which is the concrete effect for people in Egypt for now.
· L3 Iron and cloud · 9,800 EFLOPS by 2030 · Reported
China's Ministry of Industry and Information Technology has issued its five-year plan for the information and communications sector, according to the state news agency Xinhua, which lists thirteen main indicators for 2030 including intelligent computing power of 9,800 EFLOPS and cumulative investment in information infrastructure of 3.8 trillion yuan. An EFLOPS is a unit of computing speed, a billion billion calculations per second. The tier is Reported because the ministry's own document could not be read; Xinhua's Chinese text carries the figures in one sentence with the 2030 horizon. For an ordinary person nothing changes today; this is a target in a planning document.
· L3 Iron and cloud · Up to 1 GW · Confirmed
A subsidiary of India's biggest technology services company has secured land for a computing site that could eventually pull as much electricity as a small city. HyperVault and its partners are expected to invest up to 70,000 crore rupees, roughly 8 billion dollars. Nothing is built yet.
· L3 Iron and cloud · NT$921.8bn · Reported
Foxconn took in 921.8 billion Taiwan dollars in August, its second highest month on record and its best August ever, 51.98 percent more than the same month a year earlier. The report attributes the strength to demand for AI products and to the cloud and networking side of the business.
· L3 Iron and cloud · $3.5B · Confirmed
A robot company has agreed to buy $3.5 billion of computing power from a data centre operator. Contracted is not the same as spent: it is a promise to pay over years, and promises can be broken. That distinction runs through most large AI numbers.
· L3 Iron and cloud · $13B · Reported
A firm that trades shares for a living, not an AI company, is reported to have signed a $13 billion deal for computing power. The buyers of very large amounts of AI computing are no longer only AI companies.
· L3 Iron and cloud · $16.4bn, +100% y/y · Confirmed
Dell's quarterly earnings release shows revenue from AI-optimised servers of 16,401 million dollars in the three months to 31 July, up 100 percent on the same quarter a year earlier, and 32,533 million dollars for the six months, up 222 percent. In the same release Dell says it booked a record 60.9 billion dollars in AI server orders and ended the quarter with a record 95 billion dollar backlog. An order book is a promise to buy, not money received. For an ordinary person nothing changes today; this is one supplier's account of how much AI hardware it is selling.
· L3 Iron and cloud · up to ~$44.6bn under the Anthropic Services Agreements · Confirmed
Nscale's SEC registration statement discloses that on 25 August 2026 it entered a series of GPU Services Agreements with Anthropic PBC, which it calls the Anthropic Services Agreements, to provide dedicated GPU infrastructure at its Monarch Compute Campus running Nvidia Vera Rubin NVL72 chips. The filing says those agreements provide for aggregate payments to Nscale of up to approximately 44.6 billion dollars. This item ran for three weeks at Rumoured on a reported 45 billion dollar figure. The filing is the document, and it moves the item to Confirmed and the number to 44.6 billion. It also shows what such a number is: a ceiling on payments under contracts, not money that has changed hands.
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