$CRWV +14% AH Pricing power, reaccelerating bookings, and a residual value surprise ⬇️ >Rev $2.6B (+112% YoY, +24% QoQ), adj op income ~40% above high end of guide. Raised full-year rev guidance by $400M vs the $15M beat. >Margins inflecting: adj op margin 1% in Q1, 5% in Q2, low-teens targeted Q4. Revenue + pricing scaling at least as fast debt load as deployments mature. >July price hike ~25% across all SKUs, output inflation outpacing input costs >New contract contribution margins 5-10pts above recent qtrs, led by Vera Rubin. We est. 65-70% contribution on new cloud, 80%+ on inference recontracts >Backlog net add was modest in qtr (+$5B to $105B), but +$25B of fresh Q3 commitments since July 1 signals reacceleration >Residual value: 2020-vintage GPUs still contracting 3+ years fo
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