[lz400]

Even if we consider what they pay for colossus high (I've no idea, I haven't looked at the numbers), wouldn't this a bit be different from "investing in infrastructure"? They're not building the DC themselves, they're just renting, they can scale down to 0 anytime and not have pressure to recover costs, they don't have debt on the HW, etc.

[JCTheDenthog]

At least from how it's described in the filing, it sounds like they're committed through 2029 on the deal with SpaceX. So they can't just pull out without a massive lawsuit from SpaceX.

[HarHarVeryFunny]

Actually, what the filing says is:

"Pursuant to these agreements, the customer has agreed to pay us $1.25 billion per month through May 2029, with capacity ramping in May and June 2026 at a reduced fee. The agreements may be terminated by either party upon 90 days’ notice."