Cathie Wood

And, you know, the AI boom

is massively deflationary.

The AI training costs are dropping 75% per year.

AI inference costs, so what it costs when you query ChatGPT or Grok, what it costs to answer that, that's dropping 85% to, if you believe DeepSeq, 98% per year.

And I think the productivity gains that we are seeing accrue to enterprises, that is going to turn around in a number of ways.

One of them could be price declines.

So many people think, oh, these corporations are going to simply increase their margins.

Well, you know, China is exporting deflation.

I know with tariffs we're countering it.

But isn't it interesting that our inflation rate did not go accelerate with tariffs?

It remained stuck.

I think I think we're going to see a lot of price declines in the future.

You know, it's so interesting.

Many people are asking, you know, is this just a hype cycle and, you know, should we pull away?

I don't know if you've seen the markets in the last couple of days, but, you know, now algorithms are assuming that AI is going to destroy industries wholesale.

This is not what happened during the late 90s.

And I will get back to your question.

In the late 90s, when Jeff Bezos said, you know, we're going to invest so much more than we expected because this opportunity is so great.

And that means we are going to lose so much more money than you shareholders expected us to lose.

The stock absolutely took off to the upside.