But the landlords are not fools — they dare to burn money like this because they hold a large number of unfilled orders. Google Cloud's backlog of contract orders has risen to about $460 billion, doubling in a year; Microsoft's commercial fulfillment backlog is even higher, at about $627 billion. Customers' money is already queued up, but the cloud vendors can't deliver the goods — because there's not enough computing power.
$Micron Tech(MU.US)$NVIDIA(NVDA.US)$XL2CSOPHYNIX(07709.HK)
美光赚翻了，但真正的胜负手——是爆雷先到，还是闭环先到？
我昨天一大早熬夜起来看财报后写的那篇美光，评论区已经吵翻了。赞同的很多，但真正扎到我的，是一句反对的。有读者留言："地主家也有没余粮的时候。"这句话，真的很狠。因为它一刀戳进了我研究的整条"利润迁移链"最致命的地方——美光能赚多久，根本不取决于美光，取决于给它送钱的"地主"，还撑不撑得住。而想清楚这件事，你得先换一个角度看这场游戏：这不是一场技术竞赛，而是一场现金流竞赛。美光这 280 亿...
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