Gin

[Gin @GinnnDawn]

@usagituzitokki 我那天好像有偶遇到你诶

[Gin @GinnnDawn]

@Andysis5 会嘎我腰子吗

[Gin @GinnnDawn]

@kkono11 看看到底有多大

[Gin @GinnnDawn]

@ripo0079 左边是冰红茶 右边是kobe

[Gin @GinnnDawn]

@kiria030208 过于美貌

[Gin @GinnnDawn]

@MgLGfsfs0UaNQeO 可惜你这样的明白人太少了 中国这边搞仇日 日本那边搞仇中 老美赚的盆满钵满

[Gin @GinnnDawn]

@shisan033 @DTH34106926 和我喜欢京都一样 因为有历史

[Gin @GinnnDawn]

@masonxunxie @CryptoTZWF 265个失踪还没找到 你是真瞎？

[Gin @GinnnDawn]

@Jani4791 谢谢你 女菩萨

[Hysteresis Research @hysrespro]

A six-month-old company reportedly signed a $10B AI compute contract. The stock hosting the deal popped 23% pre-market — and closed flat. That fade is the most honest print in AI infra this year.

The stack, as announced Aug 4:

An AI lab (Bloomberg says Anthropic; neither side confirms) commits ~$10B over 6 years to Volta — a London startup founded in January by two ex-Brookfield infrastructure investors, ~100-150 people, $300M raised at $2.4B post. a16z, Altimeter and NVIDIA on the cap table.

Volta doesn't own a datacenter. It rents one: a 16-year, 121 MW IT colocation lease at Bitdeer's Tydal campus in Norway ($BTDR — yes, the bitcoin miner), ~$4.7B contracted at an average ~$202/kW-month. Volta's contribution is what goes inside — NVIDIA Vera Rubin racks, Dell systems — and the financing: ~$1.3B of letters of credit arranged by J.P. Morgan plus one more bank, and a $5B project-finance programme with Azora. Sign the contract first, then borrow against the contracted cashflow. Compute as toll road.

Per-MW math, taking the announcement at face value: ~$13.8M per MW-year in from the lab, ~$2.4M out for shell and hydro. The ~$11.4M spread — ~$1.37B a year — services roughly $4-5B of GPU systems. Six years of revenue ≈ 2-2.5x the hardware bill. Standard neocloud economics; the novel part is the sequencing.

Now the two numbers the market found between the pre-market and the close:

1) Volta holds a no-fee termination right at year 10. Firmly-committed value ≈ $2.7B — not the $4.7B headline (Benchmark's arithmetic).
2) The letters of credit cover 28 cents of the nominal dollar.

+23% to flat on that is not the market being slow. It's the market reading the term sheet. In 2025 these headlines ripped unexamined. If AI compute contracts are going to trade as an asset class, this — break clauses, coverage ratios, firm-vs-nominal — is what underwriting actually looks like.

Two checkable dates: Dec 31, 2026 (first halls due), and whichever day either party says the customer's name on the record.

Full note (EN/中文): https://t.co/pOOF1pMk9G

Not investment advice. Terms from Bitdeer's 6-K and both launch releases; customer identity per Bloomberg, unconfirmed by both sides.

[Gin @GinnnDawn]

@King_XiJinping @satireorcry1 应该这么说 台湾自古以来是属于华夏文明的中国(不是PRC)的一部分 RPC 从来没有实控过台湾地区

[Gin @GinnnDawn]

@QinYueLe 可是那些民主国家选上来的人 也没孙笑川靠谱啊🙃

[Gin @GinnnDawn]

@hexie14 @Barrybi3g 🙃招笑了 全是民国时期的文章 你是在攻击台湾吗？

[Gin @GinnnDawn]

@honhonMAOMAO 不至于 真的不至于 哥

[Gin @GinnnDawn]

@XIDUOXING 赞同

[Gin @GinnnDawn]

@clock_kn1fe 冷知识 台湾人哪怕不承认他们是中华人民共和国的人 他们也是中华民国的人 都是中国

[Gin @GinnnDawn]

@miao_tae_ 日语和中文的区别是 日语:我 饭 吃了 中文:我 吃了 饭 你感受下 理解了就简单了

[Gin @GinnnDawn]

@Fengyi1811 RIP

[Gin @GinnnDawn]

@shunshui8899 你小子算盘快打到天上去了