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Regarding recent discussions among CCL-focused investors on whether the key CCL spec for VR200 NVL72 could be downgraded from M9, below are my latest surveys and views: 1. Nvidia previously began testing 896K2 and 892K2 and prototyping PCBs, which likely gave rise to the market rumors. Test results are expected by the end of 1Q26. 2.Nvidia’s current mass-production target remains 896K3. While this has not been finalized, the uncertainty alone is sufficient to impact stock prices that have already priced in this positive expectation. 3. Discussing CPX based on Nvidia’s CES 2026 keynote is somewhat odd, as Jensen didn't mention CPX. CPX currently has lower visibility, potentially due to delays in mass production, but the current target spec remains 896K3. 4. Nvidia’s AI servers continue to push the technological frontier, making extensive testing entirely normal, including previously rumored PTFE from Thaifu and Taichem. 5. This event doesn't change the long-term trend of ongoing upgrades in PCB material spec. 6. The short-term stock price volatility reflects Nvidia’s trade-offs and compromises between real-world constraints and ideal targets. Similar situations are likely to recur in the future.