Yi Lihua: AGPU May Be One of the Most Certain Alpha Opportunities in the Computing Power Track

Liquid Capital founder Yi Lihua posted on platform X, stating that the most certain Alpha opportunities in the computing power track often come from extreme valuation discrepancies. He pointed out that AGPU on the US stock market has recently secured contracts worth over $1.6 billion, with a forward Annual Recurring Revenue (ARR) of $384 million. However, its current market cap is less than $100 million, resulting in a P/ARR ratio of only around 0.2 times. In comparison, CoreWeave (CRWV), which has a market cap of approximately $50 billion, holds heavy assets and remains unprofitable. Yi Lihua noted that AGPU's "light-asset Access + exclusive Build" hybrid model offers a more competitive edge.

Yi Lihua stated that AGPU's contract scale grew from zero to $1.6 billion within a few months. Future focus will be on the company's new orders (management expects new orders to reach $10 billion this year), financial performance, financing methods, and other developments.