The technology industry is witnessing a CapEx supercycle, with hyperscalers estimated to spend a cumulative $3 trillion over the next 3 years.

Price-sensitive components like NAND flash represent only about 17% of Everpure's total revenue.

The cost of NAND flash memory jumped by 600% to 800% at the end of 2023.

The estimated $3 trillion in hyperscaler CapEx over the next three years excludes spending by AI firms like Anthropic and OpenAI, and neo-cloud players like CoreWeave and Crusoe.

Hyperscalers' planned CapEx spending represents roughly 90% of their operating cash flow, indicating they can afford it without stretching their balance sheets.

Everpure has intentionally operated at the lower end of its historical product gross margin range, at 65.5%, to manage the business for the long run amid rising component costs.

The current high demand for AI infrastructure is a "supercycle" and not a short-term burst.

The current demand-supply imbalance for flash storage is not expected to abate before the first half of calendar year 2026.