Brody Ford

Dell, a lot of us think of as the kind of boring laptops and computers, but they've managed to really reinvent themselves as physical infrastructure provider for the AI boom.

And so, you know, we're seeing some pretty comical revenue ramp here.

Are those three aspects that you just outlined part of the temporary deal that has been agreed?

Well, it's all about these servers, right?

I think when some of us think about AI revenue, we think about people selling large language models, but it's a lot more than that, right?

I mean, somebody needs to build those servers that go into data centers to train all those models and deploy all the applications.

And

Dell, a lot of us think of as the kind of boring laptops and computers, but they've managed to really reinvent themselves as physical infrastructure provider for the AI boom.

And so, you know, we're seeing some pretty comical revenue ramp here.

Our board continues to lead a rigorous, highly competitive, and thorough sales process.

Absolutely.

So, I mean, the big concern is that the core Salesforce products for, let's say, managing your Salesforce or managing your service, these are slowing down quite a bit.

And so their new AI tools, they are making some money, $800 million per year at this point.

Is that enough to offset the slowdown in the core business?

I mean, they're in the green today, but we have to remember application software has been incredibly beat up this year.

And if you zoom that chart out, it's still not an amazing picture.

They have proven at this point that agent force is a real product.

People are paying for it.

That was an open question 6, 12 months ago.

What's less clear is, do they have a ton of pricing leverage?