Caroline Hyde

Meanwhile, Fiona, you could think that these are companies that are

strategically thinking of how they can ride extra upside should the AI wins really come to bear.

We're going to be digging into how OpenAI is backing a fund of its own VC partner that is looking at integrating its technology into portfolio companies, into service companies, for example.

It wins not only by adoption of its technology, but on seeing some equity upside, Fiona.

What do you need to see to vindicate that the productivity gains are there?

Yeah, this is why it's so difficult because I think sometimes or often, if you're in that bubble and it's falling apart, you won't often realise when it's actually too late.

So, you know, I think the numbers that we've been seeing from NVIDIA have been encouraging.

You know, the latest earnings report was extremely positive.

There weren't really any faults there.

I think this is just a nervousness that we're seeing.

But I think at the end of the day...

We know that AI technology is solid.

We know that it exists.

It's going to increase productivity.

There are obviously concerns over monetization, circular funding, revenue lagging investment.

You know, if we just think about the horizontally automation, R&D, customer service value,

vertically, different sectors, and then infrastructure level as well.

So this is a very broad, broad technology, which sort of helps ease those concerns over the bubble fears, I guess.

What about crypto?

You know, we saw that rejection at that 92,000, just above that 92,000 level, which was a pretty key level.