## FY25 financials:
Valuation: ~$2T
Revenue: $4.59B, up 1,088% YoY from $386M
Operating loss: $8.06B, widening from $2.98B
GAAP net loss: $41.97B, vs $8.31B
Compute + infrastructure expense: $7.33B, up 190% YoY
Compute and infrastructure represented 58% of total operating expenses
Cash + short-term investments: $20.28B at year-end
Two largest customers accounted for 12% of revenue each
## Other names to consider:
Memory: MU, SKHY
Cloud / Compute: GOOG, AVGO, AMZN, NVDA, AMD, MSFT
Infra / Capacity: CIFR, CRWV, SPCX, WULF, HUT, AKAM