Contracted backlog (RPO) · demand visibility
RPO (latest)
$2.3B
2026-01-25
Coverage
0.0×
RPO ÷ revenue
Backlog YoY
35%
contracted growth
Expectations vs reality · what the price requires, beside what demand is doing
Price requires (reverse-DCF)
—/yr
Demand is doing
RPO (backlog) growth35% · $2.3B
Revenue growth65% · $215.9B
Capex growth87% · $6.0B
AI-capital-cycle reflexivity (cohort-wide)
42%of Big-5 capex returns as NVDA Data-Center revenue
Depreciation-life sensitivity · is the margin flattered by a long server life?
Implied life
6.0y
gross PP&E ÷ D&A
Shorter server life, lower margin · display-only.
Diagnostics only · never a score.
