Brandon McBee

I think that characterization is absolutely correct.

If you just take general commodity theory, and I traded natural gas, electricity, agriculture products for over a decade, it suggests that it should become that at some point.

But what is the reality today?

The reality is this stuff isn't getting easier to operate.

We've moved from these relatively simple 42U air-cooled

racks of Hopper to these immensely complex Blackwell deployments moving into Vera Rubin following that, like it's not getting easier.

to build, operate, provision, deliver these GPUs.

It's getting more difficult.

And I think until it starts becoming easier, you don't really have a path to commoditization.

You will have to continue to prioritize working with the world-class and world-leading operators of infrastructure.

That's where we sit.

You know, I think it's the scale difference right there.

Finding ones or tens of GPUs, I think that's way more accessible out there.

Our clients are focused on the

hundreds of thousands of GPS.

Not yet.

I'm sure you'll get there.

Yes.

And that's where...

it kind of decommoditizes itself with scale as well, right?