NVDA Data-Center revenue as a share of the Big-5 hyperscalers' cash capex — how much of the AI build cycle flows straight back to the merchant-silicon vendor. Customer concentration and vendor-financing are text-only disclosures, not imputed here.
Diagnostics only — never a composite score. These ~8 core names trade as ~2 independent bets, so no cohort-scoped statistic could be significant. RPO is read within-name (never differenced across names — Oracle's backlog is concentrated mega-deals; Microsoft's is diversified). The expectation and demand legs are juxtaposed, not subtracted.
