Anthony Macdonald

And $25 billion, that actually doesn't buy you much in this world of data centers.

Microsoft would have invested way more than that, spent way more than that in data centers.

Here, James, by the time that you buy the chips in the data centers, by the time you pay for the power bills, by the time you pay the rent, I mean, NextDC, it started the week by announcing it had signed a customer for a 250 megawatt contract.

Now, 250 megawatt contract, I know that's jargon, but I'm not sure how else to put it.

Yeah.

But whoever signed that contract, could have been Microsoft.

If it wasn't them, it was Google or Amazon.

They are preparing to spend $50 billion.

Yeah.

Over the next decade.

Just on that one site that NextDC is building.

So, I mean, I think Microsoft, what it's doing directionally here might be good, but it's doing the whole AI story, I think, a massive disservice, right?

Because you're just chucking big numbers out there at us.

There's not actually much behind it.

And it's good that the Prime Minister turns up.

I mean, this looks like Australia's attracting $25 billion worth of investment.

Yes.

But what are we getting for it, James?

Not sure.

Like, we don't know, do we?