Cathie Wood

Now it's all the time.

So we don't think people understand how profound some of these tax changes are.

Absolutely.

Absolutely.

I mean, we're having huge buildouts of data centers and power facilities.

All of those depreciation schedules will apply to this boom in investment and contribute to it.

So, yes.

In fact, Carol, I was just going to say, many people think we're in a bubble.

And yes, the data center spending last year was about $500 billion.

And you can see all of this in our Big Ideas report.

We just released it yesterday.

And thank you, Bloomberg, for featuring it.

But $500 billion is a two and a half times increase from where it had been trending for years.

So big increase, no doubt about it.

But we think that number needs to go to $1.4 trillion in the next five years to accommodate the AI boom that is now underway and is going to drive productivity gains incredibly.

Well, we are in a technology revolution.

And many people thought that the internet was a technology revolution, and to some extent it was.

But today, instead of just one major platform evolving, we have five.

So robotics, energy storage, AI, blockchain technology, and multi-omic sequencing in the life science space, which we believe is the most profound

application of AI, healthcare.