Caroline Hyde

It's definitely a question.

And it's that question that we had, and it was very much a concern, I think, you know, around October, November time, where there seemed to be a lot of deals going on.

And there was that sense of, or that question, is this sort of an ecosystem that's growing or is it just circular investment?

And I don't think that was ever really resolved.

The market does seem to be a little bit calmer about those questions for the time being.

But I wonder if we, as we move towards NVIDIAs, whether those questions will start to appear again, and especially after we've had the earnings this week.

at Citi Index Financial Markets.

Thanks so much for your time as always.

Meanwhile, that does it for this edition of Bloomberg Tech.

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with Caroline Hyde in New York and Ed Ludlow in San Francisco.

We're seeing Microsoft having its worst day ever.

Since March 2020, you have got $400 billion more than wiped off of its market capital expenditure, and it beat.

But it's spending a lot to get growth, and the growth isn't showing up fast enough, particularly in the cloud part of the equation.

People have still got this underlying anxiety that a lot of these older school business models cannot hang on in the age of competitive threats and the unwinding of some of these B2B software that we've been so used to and so ingrained in our everyday.

We're seeing Microsoft having its worst day since March 2020.

You have got $400 billion more than wiped off of its market capital expenditure, and it beat.

But it's spending a lot to get growth, and the growth isn't showing up fast enough, particularly in the cloud part of the equation.