They'll just spin some divisions off and/or sell the DC's they have to Anthropic or others at a profit. They could also just rent compute out at insane margins. They aren't going anywhere.

For 50 years the idea of selling used hardware and hardware facilities at a profit was a joke. If it is not a joke again in under 10 years then the overall economics of the world are going to be the joke and it will be a very dark one.

Rent compute out at insane margins is plan A.

Still, capital isn't getting any cheaper for them and their CDS are still climbing.