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  "documentTitle": "Pure Storage, Inc. (PSTG)",
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  "presentationDate": "2025-09-01 00:00:00",
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      "text": "Just these three issues have a dramatic impact on the TCO math, making Solidigm’s conclusion of 59% cost savings over HDDs highly suspect.",
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      "text": "Implementation: Consistent with Pure's target market... we assumed a hyperscaler bulk storage implementation sized at 1EB of effective capacity.",
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      "text": "Products: Our analysis assumes 30TB HDDs, 122TB commodity SSDs, and 150TB Pure DFMs.",
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      "text": "To their credit, Solidigm published an updated version... we believe this TCO analysis also suffers from questionable assumptions... First, Solidigm incorporates all the hardware benefits to SSDs of using the VAST Data AI operating system but excludes any of the costs of this software.",
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      "text": "We constructed our own illustrative TCO analysis. We contrast our assumptions with those of Solidigm and Pure to highlight how they mischaracterize the TCO math...",
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      "text": "assume a high performance enterprise as opposed to a bulk storage hyperscaler implementation, meaning that (1) Pure is benefitting from assumptions such as 3:1 data reduction... and (2) HDDs are being burdened with extra costs...",
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      "text": "In November 2024, Solidigm... published its own TCO analysis... Solidigm's analysis suffered a fatal flaw: it failed to attach any sort of cost analysis to enable more definitive conclusions.",
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