{ "report_id": "theme_ai_capex_node_ai_cloud_capacity_financing", "report_type": "theme_value_chain_node", "site_path": "themes/ai-capex-cycle/nodes/ai-cloud-capacity-financing/index.html", "title": "AI-Cloud Capacity And Financing", "as_of": "2026-06-13", "generated_at": "2026-06-13T13:18:05-07:00", "freshness": { "price_data_as_of": "2026-06-12", "daily_ohlc_latest": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "weekly_setup_status": "stale_static_thresholds_need_refresh_before_use_as_current_trading_evidence", "chart_interval": "weekly", "knowledge_reviewed_as_of": "2026-06-13", "active_common_stocks": 5274, "filtered_coverage_count": 4991, "limitations": [ "CRWV, NBIS, and WYFI have short public trading histories, so 100W EMA evidence is missing or less mature for those charts.", "Several non-CRWV security lanes are May 31 first-pass lanes rather than node-specific June refreshes.", "Lineage freshness can lag canonical daily_ohlc table coverage; use daily_ohlc table dates for chart provenance and reconcile lineage before treating provider freshness as live.", "Contract-level economics, customer concentration, covenants, collateral packages, service credits, customer-acceptance tests, and collection detail remain under-disclosed across several rows.", "Nasdaq earnings pages accessed on 2026-06-13 did not provide confirmed next earnings dates for the nine ranked tickers.", "Static setup thresholds from 2026-06-05 are stale versus 2026-06-12 daily_ohlc coverage and should be refreshed before use as current trading evidence." ] }, "revision": { "version": 3, "updated_label": "Latest node-page format with card basket and evidence board", "metadata_path": "themes/ai-capex-cycle/nodes/ai-cloud-capacity-financing/report.json" }, "node": { "slug": "ai-cloud-capacity-financing", "order": 3, "level": "L3 financing-sensitive capacity node", "role": "Tracks whether AI cloud sellers, AI data-center landlords, and miner-to-HPC conversions can turn signed demand into delivered capacity, billable utilization, rent, margin, collections, and cash flow after capex, debt, leases, dilution, and customer concentration.", "description": "AI-cloud capacity and financing covers CRWV and NBIS as direct neocloud operators, APLD and IREN as high-growth contracted capacity ramps, CORZ and WULF as commenced colocation or lease conversions, CIFR and HUT as larger but more prospective campus leases, and WYFI as the smaller financing-sensitive tail route." }, "ticker_baskets": { "core": [ "CRWV", "NBIS", "APLD", "IREN", "CORZ", "WULF", "CIFR", "HUT", "WYFI" ], "option": [], "watch": [] }, "basket_metric_sources": { "ranking_order": [ "CRWV", "NBIS", "APLD", "IREN", "CORZ", "WULF", "CIFR", "HUT", "WYFI" ], "ranking_method": "Inherited from parent AI-cloud capacity group and hand-ranked by source-backed node economics before technical timing.", "market_cap_method": "Local discovery estimate queried on 2026-06-13: latest 2026-06-12 daily_ohlc close multiplied by weighted shares outstanding when available, otherwise share-class shares outstanding.", "earnings_date_method": "Bounded Nasdaq earnings-page checks accessed on 2026-06-13; each ranked ticker returned no available earnings date, so HTML cards use Not confirmed.", "latest_quarter_revenue": { "CRWV": { "period": "Q1 2026", "value": "$2.078B", "source": "CoreWeave Q1 2026 results release" }, "NBIS": { "period": "Q1 2026", "value": "$399.0M", "source": "Nebius Q1 2026 results presentation" }, "APLD": { "period": "Q3 FY2026", "value": "$126.5M", "source": "Applied Digital Q3 FY2026 lane math from $71.0M HPC Hosting at 56.1% of revenue" }, "IREN": { "period": "Q3 FY2026", "value": "$144.8M", "source": "IREN Q3 FY2026 update" }, "CORZ": { "period": "Q1 2026", "value": "$115.7M", "source": "Core Scientific Q1 2026 release and colocation mix" }, "WULF": { "period": "Q1 2026", "value": "$34.0M", "source": "TeraWulf Q1 2026 release" }, "CIFR": { "period": "Q1 2026", "value": "$35.0M", "source": "Cipher Digital Q1 2026 business update" }, "HUT": { "period": "Q1 2026", "value": "$71.0M", "source": "Hut 8 Q1 2026 release" }, "WYFI": { "period": "Q1 2026", "value": "$21.9M", "source": "WhiteFiber local lane and related SEC-filed release trail" } } }, "demand_origin_refs": [ "CRWV", "NBIS", "APLD", "IREN", "CORZ", "WULF", "CIFR", "HUT", "WYFI" ], "chart_artifacts": [ { "chart_id": "chart-crwv", "ticker": "CRWV", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week EMA computed from weekly closes; 100-week EMA unavailable because public trading history is short; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/CRWV/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-nbis", "ticker": "NBIS", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week EMA computed from weekly closes; 100-week EMA limited by public trading history; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/NBIS/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-apld", "ticker": "APLD", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "100w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week and 100-week EMAs computed from weekly closes where history is sufficient; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/APLD/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-iren", "ticker": "IREN", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "100w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week and 100-week EMAs computed from weekly closes where history is sufficient; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/IREN/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-corz", "ticker": "CORZ", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "100w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week and 100-week EMAs computed from weekly closes where history is sufficient; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/CORZ/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-wulf", "ticker": "WULF", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "100w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week and 100-week EMAs computed from weekly closes where history is sufficient; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/WULF/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-cifr", "ticker": "CIFR", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "100w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week and 100-week EMAs computed from weekly closes where history is sufficient; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/CIFR/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-hut", "ticker": "HUT", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "100w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week and 100-week EMAs computed from weekly closes where history is sufficient; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/HUT/chart?frequency=weekly&window=3y&as_of=latest" }, { "chart_id": "chart-wyfi", "ticker": "WYFI", "source_table": "daily_ohlc", "chart_interval": "weekly", "aggregation": "weekly bars grouped from daily rows by calendar week; open is first row, high is weekly max, low is weekly min, close is final row, volume is summed", "indicators": [ "20w_ema", "weekly_volume", "20w_average_volume" ], "indicator_method": "20-week EMA computed from weekly closes; 100-week EMA unavailable because public trading history is short; weekly volume bars shown with a 20-week average volume line", "price_data_as_of": "2026-06-12", "weekly_setup_as_of": "2026-06-05", "visible_years": 3, "rendering": "report_api", "api_route": "/api/securities/WYFI/chart?frequency=weekly&window=3y&as_of=latest" } ], "links_out": [ "theme_ai_capex_cycle", "theme_ai_capex_node_hyperscaler_cloud_capex_budgets", "theme_power_scarcity_and_grid_load" ], "knowledge_sources": [ "../../../../../knowledge/wiki/concepts/themes/ai-capex-cycle.md", "../../../../../knowledge/wiki/lanes/sector/information-technology.md", "../../../../../knowledge/wiki/concepts/themes/funding-dependency-and-duration-tolerance.md", "../../../../../knowledge/wiki/concepts/themes/power-scarcity-and-grid-load.md", "../../../../../knowledge/wiki/lanes/security/crwv.md", "../../../../../knowledge/wiki/lanes/security/nbis.md", "../../../../../knowledge/wiki/lanes/security/apld.md", "../../../../../knowledge/wiki/lanes/security/iren.md", "../../../../../knowledge/wiki/lanes/security/corz.md", "../../../../../knowledge/wiki/lanes/security/wulf.md", "../../../../../knowledge/wiki/lanes/security/cifr.md", "../../../../../knowledge/wiki/lanes/security/hut.md", "../../../../../knowledge/wiki/lanes/security/wyfi.md", "../../../../../knowledge/wiki/lanes/security/dlr.md", "../../../../../knowledge/wiki/lanes/security/eqix.md", "../../../../../knowledge/wiki/lanes/security/btdr.md", "../../../../../knowledge/raw/sources/security_profile__crwv__security_backlog_100_20260607/output.md", "../../../../../knowledge/raw/sources/security_research__crwv__security_backlog_100_20260607/output.md", "../../../../../knowledge/raw/sources/security_profile__nbis__power_name_expansion_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__nbis__power_name_expansion_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__apld__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__apld__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__iren__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__iren__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__corz__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__corz__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__wulf__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__wulf__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__cifr__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__cifr__robotics_value_chain_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__hut__power_name_expansion_20260531/output.md", "../../../../../knowledge/raw/sources/security_research__hut__power_name_expansion_20260531/output.md", "../../../../../knowledge/raw/sources/security_profile__wyfi__security_backlog_100_20260607_refresh_20260607/output.md", "../../../../../knowledge/raw/sources/security_research__wyfi__security_backlog_100_20260607_refresh_20260607/output.md" ], "external_sources": [ { "label": "CoreWeave Q1 2026 results release", "url": "https://investors.coreweave.com/news/news-details/2026/CoreWeave-Reports-Strong-First-Quarter-2026-Results/default.aspx" }, { "label": "Nebius Q1 2026 results presentation", "url": "https://assets.nebius.com/assets/6fc0ea6c-0884-4a1f-bed8-1f797eb9628f/Financial%20results_Q1%202026.pdf" }, { "label": "Applied Digital June 8 2026 Delta Forge 2 lease release", "url": "https://ir.applieddigital.com/news-events/press-releases/detail/154/applied-digital-signs-210-mw-lease-at-delta-forge-2" }, { "label": "IREN Q3 FY2026 business update", "url": "https://www.sec.gov/Archives/edgar/data/1878848/000187884826000025/irenreportsq3fy26results.htm" }, { "label": "Core Scientific Q1 2026 results release", "url": "https://www.businesswire.com/news/home/20260506693311/en/Core-Scientific-Announces-First-Quarter-Fiscal-Year-2026-Results" }, { "label": "TeraWulf Q1 2026 results release", "url": "https://investors.terawulf.com/news-events/press-releases/detail/140/terawulf-reports-first-quarter-2026-results" }, { "label": "Cipher Digital Q1 2026 business update", "url": "https://investors.cipherdigital.com/news-releases/news-release-details/cipher-digital-provides-first-quarter-2026-business-update" }, { "label": "Hut 8 Q1 2026 results release", "url": "https://www.hut8.com/news-insights/press-releases/hut-8-reports-first-quarter-2026-results" }, { "label": "WhiteFiber Paris AI compute release", "url": "https://www.sec.gov/Archives/edgar/data/0002042022/000121390026060135/ea029187601ex99-1.htm" }, { "label": "Nasdaq CRWV earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/crwv/earnings" }, { "label": "Nasdaq NBIS earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/nbis/earnings" }, { "label": "Nasdaq APLD earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/apld/earnings" }, { "label": "Nasdaq IREN earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/iren/earnings" }, { "label": "Nasdaq CORZ earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/corz/earnings" }, { "label": "Nasdaq WULF earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/wulf/earnings" }, { "label": "Nasdaq CIFR earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/cifr/earnings" }, { "label": "Nasdaq HUT earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/hut/earnings" }, { "label": "Nasdaq WYFI earnings page accessed 2026-06-13; no earnings date available", "url": "https://www.nasdaq.com/market-activity/stocks/wyfi/earnings" } ], "discovery_sources": [ { "kind": "status", "label": "AI-cloud capacity core local daily_ohlc coverage through 2026-06-12", "query_ref": "discovery:status:CRWV|NBIS|APLD|IREN|CORZ|WULF|CIFR|HUT|WYFI" }, { "kind": "duckdb_readonly_query", "label": "AI-Cloud Capacity And Financing market-cap estimate and latest daily_ohlc coverage", "query_ref": "discovery:duckdb:daily_ohlc_latest_close_x_instruments_shares:ai-cloud-capacity-financing:2026-06-12" }, { "kind": "duckdb_readonly_query", "label": "AI-Cloud Capacity And Financing stale weekly OHLC setup levels retained as caveat", "query_ref": "discovery:duckdb:daily_ohlc_weekly_aggregation_20w_100w_ema:ai-cloud-capacity-financing:2026-06-05:stale" }, { "kind": "report_api", "label": "Selected-security right-rail weekly chart routes", "query_ref": "report-api:/api/securities/{ticker}/chart?frequency=weekly&window=3y&as_of=latest" } ] }