David Gurra

But the inference part, is there anything unique about this different to what Meta is doing with NVIDIA?

Because we had a very similar deal very recently.

And how much does this show that there is anxiety, that companies are diversifying, looking at AMD, looking at their own in-house chips?

Or actually, does it still not concern, Nvidia is still dominant?

And Riley, the conversation is nuanced when it comes to capital expenditure.

Many would say, yes, a lot of it is about the chips.

It is about the data centers, but it's also about the power.

Can we understand really how much Metra is having to focus in on where they can spend on GPUs or their own homegrown chips and where they do it globally as well?

It's probably time for a bit of a reality check-in, and I'm hoping that you'll provide it for us.

Like, in any given quarter right now, AMD is going to do $10 billion of revenue, all told, every single segment.

NVIDIA's data center business is at more than $50 billion a quarter.

Yes, that includes networking, but they're now one and the same, right?

You can't have chips without the other.

How do we know if this is evidence that AMD is catching up?

Meta is not a hyperscaler, but it operates its own data centers at hyperscale, if you know what I mean.

I'm thinking back to when Mark Zuckerberg was sat next to the president.

$600 billion over the next few years.

And then he's also talked about this idea that they might misspend $200 billion here or there, here or there.

But that's no bad thing.

He's front-loading purchases.