### @BE — Confirmed — from the 10-K
Forty-three percent. One related party, most likely SK ecoplant. Thirteen percent. Twelve percent. Three customers, that concentration. Oracle under twelve, not top three — emerging hyperscaler, not the risk. We name the widening base as the answer: more than half our data center backlog from other hyperscalers, neoclouds, colocation providers. Among power-infrastructure peers, forty-three percent from one customer stands out. Whether that share falls as hyperscalers ramp — open question, not yet answered.
- tier: Confirmed (✓)
- source: BE / The 43% that sits next to the growth
- receipt: https://ticker.thevixguy.com/p/p-day-20260801-be-src-be-customer-concentration-rotation
- posted: 2026-08-01T22:52:24.996Z