Appreciate you sharing this perspective @bmcneely08 - always good to question the narrative. But this one doesn't line up with how these companies are actually funded. $NBIS, $CRWV, $IREN aren't running on ATM equity. They operate on long-term debt and contracted hyperscaler cash flows. A lower share price doesn't cut off their ability to operate. And $SPCX isn't looking to scoop up distressed GPU fleets for pennies. By the time they'd hit bankruptcy auction, they'd be last-gen hardware. SpaceX/xAI have direct supply with Nvidia. What's happening is a sector-wide repricing of AI infra - high leverage + capex digestion + rates. Not FUD, just fundamentals.