Caroline Hyde

And

And lo and behold, we hear that a resolution could be on the way and all of these names start to rally again into the market.

So I think I'll just be looking at what happens with the geopolitical conflict because I think that long-term, this is the investable story.

It's all about AI, AI infrastructure, AI energy, AI space and connectivity.

But I think that the geopolitics will be a huge overhang.

If we don't see a resolution there, expect a lot of market volatility, expect a pullback.

If we do hear that the ceasefire is more than a ceasefire and we're sort of moving forward,

then I think the market's back on track for a potentially positive year.

But with the angst, of course, with war, it's about people and humanity.

Yes.

But there's also supply chain people's access to raw materials that they really need in the rest of the world.

And that's a chip story in many ways.

Yeah, I mean, that's a huge story now, but again, it'll depend on when this ends, right?

So I think if there's a resolution to the conflict soon, a lot of what we're seeing on the supply side will be resolved in a month or two, right?

It won't be overnight, but I think we'll get back to kind of reverting to the mean there.

We'll get back to all the problems with supply chain that already exist.

That already existed, but it won't kind of pile on and get worse, right?

But I think if this goes on for another month or two, then you really start worrying about things like inflation, the price of oil, gas, and energy, and how that factors into the consumer's wallet and then the stock market.

I mean, energy prices have been factoring into the AI build-out.

We're, of course, reporting that OpenAI is curtailing its Stargate UK ambitions because of energy prices there.