“Understating depreciation by extending useful life of assets artificially boosts earnings — one of the more common frauds of the modern era... Yet this is exactly what all the hyperscalers have done. By my estimates they will understate depreciation by $176 billion 2026-2028. By 2028, ORCL will overstate earnings 26.9%, META by 20.8%.”

Resolves against hyperscaler depreciation schedules and reported 2026-2028 earnings, in particular whether Oracle's and Meta's 2028 earnings prove overstated by roughly the quoted percentages under shorter server useful lives.