Cameron Gleeson

OpenAI, its valuations sit around about the trillion dollar mark.

And Anthropic, its latest funding round was in January.

I think its valuations were around about 300 million US, but it's likely its valuations by the end of the year will sit approaching a trillion US dollars.

So these are large companies and it's a great opportunity for investors to be exposed to them once they do list.

Yeah.

Yeah, yeah.

So when we talk about, you know, the AI trade and that supply chain, look, I like to think of the AI side of that as not just the NASDAQ, but if you look at that portfolio,

manufacturing foundry segment, which exists in Asia.

You can get exposure to that through Asia ASIA, which is our Asia Technology Tigers ETF.

That's really taking you through that full supply chain from the making of the chip all the way through to the application layer.

Asia and NASDAQ, I think, form that.

The story of commodities, it's absolutely anchored in a couple of things.

And one of them is geopolitics.

And it's something we talked about at the start of this year, but it's also that demand pool through this AI supply chain.

And I mean, like my North star in terms of investing is looking at earnings growth.

I think that even evaluations are expensive.

They can be supported if you think you have strong fundamental, you know, earnings growth, that's going to be structural.

Yeah.

Yeah, that's right.

That's right.