Edition 2026.35 /
Acceptance makes capacity real
Historical research separating signed AI infrastructure commitments from funding, delivery, acceptance and billable service.
The research
The idea worth keeping.
This edition followed infrastructure claims through successive proof gates: signed, funded, built, tested, accepted and billable. It used public IREN and Fermi disclosures to distinguish a reported customer acceptance milestone from an announced lease with conditions still ahead.
The method asks what another party can verify at each handoff. Customer acceptance advances the evidence chain, but does not by itself establish billing, cash collection or the exercise of separate equity rights.
The published proof gates
- 01Signed
- 02Funded
- 03Built
- 04Tested
- 05Accepted
- 06Billable
Evidence and boundaries
Read with the original limits.
Company-reported milestones retain their stated boundaries. Acceptance and contracted revenue are not substitutes for realized cash or investment returns.
Read the dated correction →