Contracted backlog (RPO) · demand visibility
RPO (latest)
$5.8B
2025-07-31
Coverage
2.2×
RPO ÷ revenue
Backlog YoY
31%
contracted growth
Expectations vs reality · what the price requires, beside what demand is doing
Price requires (reverse-DCF)
—/yr
Demand is doing
RPO (backlog) growth31% · $5.8B
Revenue growth23% · $2.7B
Capex growth14% · $164M
AI-capital-cycle reflexivity (cohort-wide)
42%of Big-5 capex returns as NVDA Data-Center revenue
Diagnostics only · never a score.
