$APLD 𝗽𝗮𝘁𝗵 𝘁𝗼 𝗽𝗿𝗼𝗳𝗶𝘁, 𝗽𝗮𝗿𝘁 𝟯: 𝘁𝗵𝗲 𝗵𝘂𝗿𝗱𝗹𝗲. On its adjusted numbers it is already near breakeven, at -$0.01 a share last quarter. To get there on GAAP, the leases also have to cover about $650M a year of corporate costs and Macquarie preferred dividends. On my PSI model base case, that takes about 2,490 MW. Management is targeting about 2 GW by the end of 2028 and 3.5 to 4 GW by 2030. I'm assuming costs stay at today's level for this math.