Yi Lihua: AGPU may be one of the most promising Alpha opportunities in the computing power sector

Odaily reported that Liquid Capital founder Yihua Yi posted on X, stating that the most definitive Alpha opportunities in the computing power sector often arise from extreme valuation differences. He pointed out that US-listed AGPU has recently secured contracts worth over $1.6 billion, with a forward annual recurring revenue (ARR) of $384 million, yet its current market capitalization is less than $100 million, resulting in a P/ARR ratio of only around 0.2. In contrast, CoreWeave (CRWV), which has a market capitalization of around $50 billion, heavy asset investment, and is still operating at a loss, makes AGPU's "light asset Access + dedicated Build" hybrid model more competitive.

Yihua Yi stated that AGPU's contract scale grew from zero to $1.6 billion within several months. Moving forward, he will focus on the company's new order additions (management expects new orders to reach $10 billion this year), earnings performance, and financing progress.