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原文：
There’s a lot of disinformation going around about $META “cutting capex” because they “overbuilt”.

This is an “if” they have excess capacity.

And it looks like the opposite right now:

Hyperscalers like $GOOGL are so compute constrained that they had to cut allocations to Meta back in March.

Since Meta was using too much for internal projects.

Meta was immediately constrained so it looks like they were forced to immediately sign massive $48B+ contracts with Neoclouds like $CRWV and $NBIS.

Meta is selling excess capacity if there’s any, especially since their large contracts are take or pay from the Neoclouds.

If anything, I’m expecting their guided capex to go up as they build out more independent capacity.

翻译：
关于 $META “削减资本支出” 因为他们 “过度扩张”的虚假信息正在传播。

这是在假设他们有过剩容量的情况下。

但现在看起来恰恰相反：

像 $GOOGL 这样的超大规模计算服务提供商由于计算资源紧张，早在三月就不得不削减对 Meta 的分配。

因为 Meta 的内部项目使用了太多资源。

Meta 立即面临了限制，这看起来像他们被迫立即与 Neoclouds 公司如 $CRWV 和 $NBIS 签署了价值 480 亿美元以上的巨额合同。

如果有任何过剩容量，Meta 都会出售，尤其是考虑到他们与 Neoclouds 公司签订的合同是 “要么使用，要么支付”。

如果有任何变化，我预计他们的指导性资本支出会增加，因为他们正在建设更多的独立容量。

原文：
Basically pre-market right now with the Neoclouds like $NBIS in simpler terms.

Costco: sells $5 chickens.

Walmart: mass buys those rotisserie chickens and sells excess as “Walmart Chickens”.

Stock Market: sells off Costco.

翻译：
基本上现在是类似Neoclouds（如$NBIS）的预市阶段，用简单的话来说。

科斯科：出售5美元的鸡。

沃尔玛：大量购买那些烤鸡，并将多余的鸡作为“沃尔玛鸡”出售。

股票市场：抛售科斯科。

原文：
Finally, $META to build a Cloud Business to sell excess AI compute per Bloomberg.

Thought Meta should go up against GCP, Azure, and AWS eventually to increase revenue streams.

Meta up 6.65% premarket. https://t.co/UUolnwtYJY

翻译：
最后，META 要建立一个云计算业务，以出售多余的 AI 计算能力，据彭博社报道。

认为 Meta 最终应该与 GCP、Azure 和 AWS 竞争，以增加收入来源。

Meta 预市上涨 6.65%。 https://t.co/UUolnwtYJY

原文：
Just a random thought, leading US humanoid players strangely me of the current LLM dynamics:

Agility ( $CCXI ) kinda feels like Anthropic for robotics.

With $AMZN and $NVDA heavily backing it, ingrained with $GOOGL Deepmind (like TPUs). And it starts off with enterprise commercialization.

Optimus is kinda off doing its own thing like xAI.

Supported by Tesla/Elon and his visionary roadmap as usual.

Figure is like ChatGPT

With Microsoft/OpenAI investing (kinda like Microsoft), then ended up kinda competing them by building their own VlA and setting them behind.

But ends up top 2 leaders anyway.

Boston Dynamics is Gemini

Kinda started the entire humanoids thing like transformers with backflip videos.

With R&D supported by $GOOGL but somehow let everyone else leapfrog them in commercialization.

And then there’s $NVDA just chilling, silently powering the entire humanoids ecosystem.

翻译：
只是一个随机的想法，领先的美国人形机器人玩家奇怪地让我想起了当前的大型语言模型动态：

Agility（$CCXI）有点像机器人领域的Anthropic。

有$AMZN和$NVDA的大力支持，并融入了$GOOGL的Deepmind（如TPU），并从企业商业化开始。

Optimus有点像在做自己的事情，就像xAI一样。

得到了特斯拉/埃隆和他的远见卓识的路线图支持，如往常一样。

Figure就像ChatGPT

得到了微软/OpenAI的投资（有点像微软），结果却竞争对手，建立了自己的VlA，并将他们甩在后面。

但最终还是成为前两名的领导者。

波士顿动力学是Gemini

有点像开启了整个人形机器人事物，就像变形金刚一样，伴随着后空翻视频。

得到了$GOOGL的研发支持，但不知为何让其他人在商业化方面超越了他们。

然后还有$NVDA，就安静地支持着整个人形机器人生态系统。