When you sell people 6 quarters for $1 they tend to buy a lot. Useage is a poor metric here given the capital intensive nature of this business. What matters is can they do this in a way that makes money to the degree that justifies the valuation, and there they have not yet demonstrated this is possible.

usage may shift to models run locally, albeit trained by the frontier labs, increasingly over time, though.

A floppy hockey stick.

Revenue growth q2 to q3 was significantly lower percentage wise than q1 to q2 and they swung back to net loss.