| 📄 | 01_cover.md | 399 B |
| 📄 | 02_editor_note.md | 478 B |
| 📄 | 03_contents.md | 472 B |
| 📄 | 04_q1_vc_landscape.md | 449 B |
| 📄 | 05_hyperscaler_capex.md | 490 B |
| 📄 | 06_big_three_valuation_leap.md | 504 B |
| 📄 | 07_valuation_vs_revenue_bubble.md | 421 B |
| 📄 | 08_openai_investor_donut.md | 442 B |
| 📄 | 09_big_three_comparison.md | 545 B |
| 📄 | 10_china_five_ranking.md | 467 B |
| 📄 | 11_us_china_dual_track.md | 433 B |
| 📄 | 12_second_tier.md | 561 B |
| 📄 | 13_chapter_nvidia.md | 307 B |
| 📄 | 14_nvidia_sankey.md | 436 B |
| 📄 | 15_nvidia_pareto.md | 431 B |
| 📄 | 16_stargate_hub.md | 514 B |
| 📄 | 17_chapter_bubble.md | 398 B |
| 📄 | 18_capex_vs_revenue.md | 343 B |
| 📄 | 19_four_risks_quadrant.md | 423 B |
| 📄 | 20_closing.md | 447 B |
| 📄 | total.md | 9.3 KB |