Dylan Patel

Yeah, 100%.

I agree with that.

How does that?

Say we roll forward seven years, you no longer have access to open AI models.

What does one get confidence or what does Microsoft do to make sure they are leading, have a leading AI lab, right?

Today, you know, it's all open AI has developed many of the breakthroughs, whether it be scaling or reasoning or Google's developed all the breakthroughs like transformers.

But it is also a big talent game.

You've seen Meta spend north of $20 billion on talent.

You've seen Anthropic poach the entire BlueShift reasoning team from Google last year.

You've seen Meta poach a large reasoning and post-training team from Google more recently.

These sorts of talent wars are very capital intensive.

They're the ones that

you know, arguably, you know, if you're spending $100 billion on infrastructure, you should also spend, you know, X amount of money on the people using the infrastructure so that they're more efficiently making these new breakthroughs.

What confidence can one get that, you know, hey, Microsoft will have a team that's world-class that can make these breakthroughs.

And, you know, once you decide to turn on the money faucet, you know, you're being a bit capital efficient right now, which is smart, it seems, to not waste money doing duplicative work.

But once you decide you need to, you know,

How can one say, oh, yeah, now you can shoot up to where the top five model?

So last year, Microsoft was on path to be the largest infrastructure provider by far.

You were the earliest in 23.

So you went out there, you acquired all the resources in terms of leasing data centers, starting construction, securing power, everything.