Capex per dollar of revenue growth, incremental vs average unit economics, three downside scenarios, compound stress, and the refinancing risk on 2020-2022 vintage debt.
The workstream testing whether reported financials describe the underlying business. Add-back discipline, dynamic working capital modelling, and the OEM balance-sheet financing that CIMs under-disclose.
Capacity vs demand, yield analysis, IP audit across four categories, and tier 1/tier 2 supply chain audit. Where technical DD tests the product, this workstream tests the business making it.
the workstreams inverted for the target. Not a data-room checklist — a seller-side self-diligence and buyer-simulation system. Run the buyer's questions on yourself before the buyer asks. Includes the CIM Claim Register, five-part remediation taxonomy, and DD-ready test.
The interrogation layer of the DD framework. Not a checklist. 250 candidate questions organised by workstream and AI Power Chain layer, designed to branch as findings emerge. WS01 activates the right subset. Includes the Killer 42.
Three tests: current product against customer specs, roadmap credibility by evidence tier, differentiation audit against decision thresholds. Plus bench work priorities per layer.
Where market DD tests the demand base, this workstream tests what the target captures from it. Concentration decomposition, pricing power diagnosis, twelve-month competitive move tracking.
The workstream that tests whether the demand the target sells into is what the CIM says it is. Bottom-up TAM, growth vintage decomposition, and cyclicality benchmarking.
The sidecar-to-IT-rack interface is the connector-engineering choke point of the AI-density facility. 400+ ampere continuous current at 48V DC. Blindmate operation. Failure mode is fire. The vendors dominate (TE Connectivity, Molex, Amphenol).
The sidecar power rack is the rack-level architecture set by OCP Mt. Diablo (v0.7.0, March 2026) as the hyperscaler reference for AI-density deployments. Physical separation of power from IT compute, standardised connectors, hyperscaler vendor selection, Chinese entrant dynamics.
The solid-state transformer (SST) is consequential piece of equipment in the 800V DC architecture. Four Western vendors (Eaton, Schneider, ABB, Hitachi Energy) plus three credible Chinese entrants (CRRC, BYD, TBEA) constitute the entire universe. Silicon carbide device concentra
The perimeter-conversion stage faces a voltage-ceiling decision that will shape 2028-2032 facility architecture: hold at 800V DC, step to 1500V DC, or reach for MVDC at 5-15 kV. Each has different copper savings, standards readiness, vendor availability, and retrofit paths.