Equity market-cap-to-contracted-run-rate valuation updated for Q2 2026. The $1.345B annualized base sums disclosed multi-year contracts, including the new six-year NVIDIA compute collaboration. A 35% execution and financing discount and 10% dilution cushion reflect the gap between $1.9M of quarterly revenue and the capital-intensive deployment required to realize the $8.8B contracted backlog.
Q2 2026 revenue was $1.9M; contracted TCV reached $8.8B; disclosed projects imply about $1.345B of fully ramped annualized revenue; cash was $1.861B and convertible notes were about $1.007B. — storage.googleapis.com (accessed 2026-08-06)
Peer market capitalizations and SHAZ price were refreshed in a single August 6, 2026 market-data snapshot. — modeledge.ai (accessed 2026-08-06)
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