> If they built it themselves and missed projections it's a much more expensive mistake

Not if their pricing comes with multiyear commitments for reserved pricing. No doubt they get a huge volume discount but the advertised AWS reserved pricing is already enough for pay for a whole 8x HX00 pod plus the NVIDIA enterprise license plus the staff to manage it after only a one year commitment. On-demand pricing is significantly more expensive so they’re going to be boxed in by errors in capacity planning anyway (as has been happening the last few months).

The economics here are absurd unless you’re involved in a giant circular investment scheme to pump up valuations.