Irihua: U.S. AGPU or one of the most certain Alpha opportunities for the computing track

In a message from the X platform, the founder of Liquid Capital, Irihua, stated that the most certain Alpha opportunities in the calculus track often resulted from extreme valuation differences. It noted that AGPU had recently been awarded over $1.6 billion in contracts, that forward annual recurrent income (ARR) amounted to $384 million, but that the current market value was less than $100 million and that P/ARR was only about 0.2 times. By contrast, CoreWeave (CRWV), which has a market value of about $50 billion, heavy asset input and is still in deficit, has been more competitive with the “light asset access + exclusive Build” hybrid model. According to Irihua, the size of the AGPU contract grew from zero to $1.6 billion in months. The follow-up will focus on the progress of new company orders (which management expects will reach $10 billion this year), financial performance and financing modalities。