A Belated Slap Is Still a Slap: A100 Gives Neocloud a Perfect Logic

CoreWeave's earnings call showed that A100 GPUs launched in 2020 can still secure new contracts extending to 2029 in 2026, directly refuting big short Michael Burry's skepticism that GPU economic life is only 2-3 years. The key to its business model: after initial contract revenue covers financing costs, the deleveraged clusters can be re-leased at higher prices, entering a "second life cycle" that generates longer revenue streams and higher margins, significantly boosting true ROIC.