Yes, over 10-20 years and I'm guessing many of those contracts are just intents and not hard commitments.
Let's say it's 15 years. That's $16B/quarter in commitment. They had $17B in revenue in Q3 2026.
If anything, they're far too conservative.
Most of their compute commitments are non-cancellable.
Based on how their growth is going, I think they're far too conservative and they should sign more.
Mate, I’d go back and re-read the (updated) S-1 more thoroughly if I were you. (That is, if you’re thinking about getting in on the IPO based on your current understanding of the financials.) please take this as well-intentioned advice; you’ll find many of the future expenses are obfuscated, e.g., omitted from the overviews and disclosed in the ‘fine print’ instead…