Anna Rathbun

So I think the valuations, although they are high, they're telling us something about the future growth of these companies and AI in general.

Yeah, you know, if we think back to the Xi-Trump meeting from last week, in my mind, I think saying that it's a one-year truce is a little bit misleading, right?

So it might not be fully one year.

We might have a surprise even next month.

Who knows?

And the truce part is also misleading because what I think is we just de-escalated.

We just went back to where we were about two months ago.

It means that we're going to continue to negotiate, but behind the scenes, we're going to continue to push this forward in terms of actually racing each other.

What happened after that meeting was that Mr. Trump came back to the United States, but Mr. Xi stayed and talked about having an international body that governs AI.

There is a lot of push here to having more power in AI and also in national security.

This is just going to get more heated as we turn into 2026.