Viewpoint: The xAI cloud computing business may be becoming one of the most underestimated growth engines within the Musk system BlockBeats news, on June 16th, in the latest BG2 podcast, Gavin Baker stated that xAI's cloud computing business may be becoming one of the most underestimated growth engines within Elon Musk's system. BG2 is a technology and investment podcast hosted by Brad Gerstner and Bill Gurley, with listeners mainly from the Silicon Valley startup, venture capital, and public market investment circles. Baker is the founder and Chief Investment Officer of Atreides Management, a hedge fund investor with a long-term focus on technology stocks, AI, and infrastructure investments. Baker cited Clark's analysis in the program, stating that the cloud computing deal reached between xAI and Google may generate higher operating profits per gigawatt of computing power than Anthropic, Meta, Google, and OpenAI. He also mentioned that Freda's calculation of Colossus 1 shows that the internal rate of return of the project may reach 55%. In Baker's view, if a company can raise funds at interest rates of 6%, 7%, or 8% and invest in a project with an internal rate of return of approximately 55%, the financial logic is very straightforward. He said that xAI may have risen from a player who is not an AI cloud service provider to the fourth largest AI hyperscaler in the world in a short period of time.