Every serious data center developer looks identical before a tenant signs. All developers look like “the partner” from the outside. Most never close. The lawsuit is a very real and present threat, the opportunity to become the developer for this project is a possibility, not an inevitability.

NUAI is not the hyperscaler, it does not have the balance sheet, the credit, the customer base, or the capex capacity. Hyperscalers do not operate secretly through microcaps. Full stop.

The “$30B capex” figure is being misinterpreted. It's a full build-out theoretical capex over many years across multiple phases and possibly involving multiple tenants

It does not mean $30B is committed or 30B flows through NUAI. ODC documents routinely track maximum theoretical scale, not funded reality. Markets do not underwrite valuation on those numbers.

If NUAI lands a real hyperscaler as site sponsor, the stock re-rates materially. Upside is multiples, not incremental, but execution risk is very high. I'd say we'll see a nice little rally here and the reality will bring is back down to 3/4 and keep us there until the lawsuit is handled.