The high $50 Billion per GW lease rates for xAI/SpaceX Colossus and similar premium, immediately available AI clusters are for scarce of ready-to-use, large-scale coherent GPU capacity. High monetization density on scarce capacity, rapid build advantage, and strong IRRs. The $2.7M/MW figure SpaceX has referenced for Colossus 2 is the facility/shell + power infrastructure cost in a brownfield setting. This is the main reason they price far below the ~$35–55B per GW per year seen on already-operational Colossus capacity. Colossus-style leases have short cancellation rights after initial periods, so they price more like scarce near-term capacity.