Caroline Hyde

Let's compare and contrast the context of both of these stocks, because as you've rightly pointed out, we've seen Snowflake up and to the right this year.

Not so for Salesforce, which has lost about a third of its market value so far this year.

I'm currently seeing off now about a quarter, 26 percent.

Did it come in with a lack of optimism and therefore managed to steer that maybe it'll get back to double digit revenue growth next year?

I mean, Derek, just broadly.

Are we getting any signs that software's lunch isn't being eaten by the large language model providers that they can withstand this?

Derek Wood of TD Cowen, great to get your analysis today.

Thank you.

Coming up, Anthropic CEO Dario Amadei is suggesting some AI companies taking too much risk by committing to spend hundreds of billions of dollars to develop and support AI systems.

Remember, he's just committed to spending quite a lot to himself.

We'll discuss that next.

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