# data center revenue — X 热门讨论 (2026-10-09 02:04 UTC)
## @Abbycadabby87 (Abby) · 10-08 13:31 · ♥41 ↻7 💬0 The next round of neocloud competition is already on.
$NBIS raised the H100 on-demand price by about 17%.
$CRWV is the more interesting one. A100s, the old cards, already have customer contracts running out to 2029.
The market used to worry a GPU would be obsolete in a few years. I think that was too pessimistic.
These cloud companies are showing something simple.
Get the model right, and the money isn’t that complicated.
A GPU server was supposed to pay for itself in 3 years. Five years in, it can still be rented.
Once the cost is back, every extra year is mostly profit. That’s the plain version of ROIC.
I still like $NBIS’s financial setup more. $IREN is the heavier-asset bet.
If revenue per MW and utilization actually show up, IREN can keep more of the profit across the stack.
IREN’s 2026 capacity already lines up with about $4B of contracted ARR. About $1B of that ARR is already running.
Recent 3-year contracts are above $20M per MW. The company puts payback at about 2 years.
$IREN’s market cap is only about $15B right now.
As of the end of June, remaining performance obligations plus signed leases were about $16.6B. Behind that is roughly 5GW of secured power, and a bigger development pipeline.
Contract value still isn’t the same thing as market cap.
But when signed contracts are already close to, or above, the market cap, and there’s still a lot of power and data-center capacity waiting to get paid, the discount on IREN is worth running again.
At this price, it looks too cheap. https://x.com/Abbycadabby87/status/2108188635950448841
## @BullRush__ (BullRush) · 10-08 17:04 · ♥30 ↻3 💬3 $QS: Siva Sivaram, CEO of $QS, on LinkedIn: why data centers need batteries
With gas turbines and America’s energy abundance, it’s a fair question. His answer: data centers use batteries at every stage.
Outside the data center: the utility’s stationary storage, to handle intermittency. On the campus: storage batteries, then UPS to bridge the gap until turbines kick in during a power loss. In the gray space: batteries so cooling and utilities never fail. And most importantly, next to the GPUs: batteries to stabilize power spikes and dips. The risk he highlights: a $10M GPU rack sitting next to a rack of batteries. If one battery catches fire, everything goes down.
Hence three requirements, per Siva: Maximum safety High energy density, to leave room for the GPUs that generate revenue Heat tolerance, so no energy is wasted cooling the batteries That’s where, in his view, solid-state shines.
Nothing new, but the post was deleted. https://x.com/BullRush__/status/2108242044082696359