Jun. 5 at 8:50 PM
Honestly, I’m scratching my head at all the hype around
$BRUN right now
Here’s the deal: they own almost nothing. GPUs are leased, datacenters are rented, 125 MW capacity mostly belongs to someone else. Their “product” is bare metal, basically what
$CRWV already does, with a
$250K software layer tacked on. Customers get nothing unique and the only lever is price, forever.
Idle GPUs during the worst GPU shortage ever, weird revenue mix including crypto, and reliance on external capital for every expansion. Fixed costs locked in, no pricing power, and being on Nvidia’s Exemplar list isn’t a moat.
You could buy the leftovers from this space or own companies with real growth and control. This feels like a rental play, not a neocloud winner.