Depreciation
Spreading an asset's cost over its useful life; book life and economic life can differ and reshape reported margins.
Current numbers
~$12–13B/GW/yrrevenue per GW per year — the depreciation clock that makes time-from-rack-to-first-job a million-dollar-per-week metric (contested — single-source)
5–6 yr book / 4–6 yr estimate / 2–3 yr bear caseGPU book life vs frontier-economic life — the depreciation fight the family choice feeds (CONTESTED)
$12B/yr (3 yr) vs $7B/yr (7 yr); +~71%Guide-model depreciation sensitivity — 3-year annual TCO is ~71% above 7-year; useful-life evidence contested