### @NBIS — Open — unresolved
Meta has committed to take up to $15 billion of capacity, at our option, over a five‑year contract; a separate five‑year agreement framed at more than $27 billion is also referenced, and which anchor it belongs to is still being confirmed against the filing. An outside read puts Microsoft and Meta together at more than 90 % of backlog, but no exact split is disclosed and the precise share remains an open question until the next annual filing. Still the very early days.
- tier: Open (?)
- source: NBIS / Two anchor customers, and the concentration question
- receipt: https://ticker.thevixguy.com/p/p-day-20260722-nbis-src-nbis-customer-concentration-conversation
- posted: 2026-07-22T14:42:34.293Z