Asit Sharma

You're attuned to valuation in the businesses you own and the ones you want to buy.

And finally, you intend to be rational in your capital allocation.

Or is that a hope of mine?

Such a great question, Emily.

I would argue that for all of these, the concept is simple.

In the first case, I'm describing companies that help sling data around faster within data centers, when I talk about data center interconnect specialists.

I'm going to name some names here.

These really aren't meant to be, hey, these are my high-conviction buys.

Go out and load up the truck.

But more types of companies you can start researching.

Understand, they all come with risks.

The first example is Astera Labs, symbol ALAB.

This is a company that simply helps different components within a server talk to one another with lower latency much more quickly.

This is the type of boring thing

that Donato talks about, maybe on the inference side, so how AI is helping companies.

Also, for those that play in this ecosystem, they're doing really simple stuff at a high level, at a complex level.

The second thing that you mentioned,

which you're referring to our survey, companies that are helping businesses like Nvidia, symbol NVDA, manage memory within GPUs.

That's a persistent bottleneck at that level of computation.

We talked about high-bandwidth memory or HBM providers.