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To say that someone is “cached out” means that they are exhausted. This slang term in IT uses a play on words on the meaning of the word “cache” which is generally a memory reserve or repository.
The metaphor, which is not a perfect one, uses the word “cache” as something that has been depleted. It also draws from the use of the word “cash” that is pronounced the same as “cache,” further complicating the colloquial meaning. It is now common for someone to talk about something that’s been used up or depleted as “cached out” or “cashed out” (again, with identical pronunciation). The use of these two homophones confuses the issue of how to spell this term, but the idea is that IT pros or techies are more likely to spell it “cached out” and think of the phrase in terms of a memory cache, where those with a lower level of computer literacy are more likely to think if it as “cashed out.”