The Truth About AI Mega-Deals: Orders Are Not Cash Flow｜Dazi AI Watch · Special 02

AI infrastructure is entering a deeper phase. The key question is no longer just who wins the biggest orders, but who can turn those orders into pricing power, contract quality, gross margin, operating cash flow, and free cash flow.In this episode, we examine cases including Meta and Broadcom’s custom AI accelerator partnership, Google’s Virgo Network, AMD’s 6GW AI infrastructure agreements, HBM supply tightness, Vertiv, Alchip, Intel 14A, PCB/CCL/T-glass materials, Lumentum, and Aehr Test Systems.The core idea: in the next phase of AI infrastructure, headline orders matter less than prepayments, long-term commitments, system-level lock-in, pricing power, and recoverable cash flow.