Brad Gerstner

And, you know, Jay Calley sent the team a chart that basically just shows the information's forecast for what OpenAI and Anthropix revenues are going to be over the course of the next several years.

And like the information is reporting that their internal numbers are both over $100 billion.

This is the information reporting on leaked internal numbers or the information is taking a guess?

No, I think this is on leaked internal numbers according to the information.

And so, you know,

I think Sam's in his head saying, I believe, and he says multiple times on the pod, we're gonna have revenues in excess of $100 billion.

And the 1.4 trillion, it's super important to remember, this is over a period of five or six years.

I estimate about half of that spending is going to be borne by the partners.

So now we're talking $700 billion in spending.

Spread that over five or six years.

In the out years, you're probably talking about $150 billion of CapEx to OpenAI.

So he's probably sitting there saying, and he said, we're going to have over $100 billion of revenue.

So if we have $150 billion of revenue and $150 billion in CapEx, now it begins to pencil out a little bit more.

But importantly, he said,

And if we don't have those revenues, we've got to match our revenues to our expenses, right?

I think they will just extend, recut the deals in order to make those expenses doable for the company.

This is an important point because we don't know, we haven't seen these actual deals.

And if they have conditions or outs, or if they can push it out or they can cancel it, maybe they have... And that will come out, I guess, in the public filings.

But putting all that aside...

the market was not happy about this Microsoft, Nvidia, Oracle, Broadcom, core weave, who all are the partners we're talking about, who are close to and when you see these charts of all the deals Sam has done, and Sam's a great dealmaker, obviously, they were all down six to 20%.