MS View: We view the announcement positively as it provides the commercial validation that investors have been looking for. The order confirms large scale demand from a leading cloud service provider, materially de-risks FTAI Power's 2027 delivery ramp, and demonstrates that FTAI's Power pipeline is converting into firm, contracted orders. The order supports our Overweight thesis on FTAI by increasing visibility into FTAI's future Power revenue and adjusted EBITDA growth. The five-year agreement also create ...