capacity
Contracted-power guidance
4.0 GWto5.0 GW
+1.0 GWThe year-end contracted-power target increased by 1.0 GW. Contracted power is not yet connected or active.
Q2 2026 shareholder letterEarnings changes
A mechanical before-and-after view. It includes only observations with usable source records and removes values marked as placeholders.
2026-Q1 compared with 2026-Q2
3
publishable changes
Updated 7 Aug 2026
funding
Deferred revenue
$4.8Bto$6.0B
+$1.2BCustomer cash booked against future delivery increased before the related revenue was recognised.
Q2 2026 shareholder letterdilution
Shares outstanding
253,900,000to271,900,000
+18,000,000A higher share count reduces each existing share’s percentage claim on the business.
Q2 2026 shareholder letter — shares outstandingNot included in the comparison
arr: One side of the comparison is explicitly marked as a placeholder.