Ed Ludlow

And Amazon's now ready to sell those chips out to third parties more.

The stock's up almost 4%.

There's a lot of pressure as well in software stocks and like, look at the worst performers, Palantir, Workday, Zscaler.

Those are big, high single digit declines.

And as I'm reading the sell side notes, Caro, it's a pretty simple story as well.

Like that fear of AI disruption or AI rendering legacy software obsolete is impacting.

In Palantir's case, that's kind of odd, though, because like that is what their pitch is.

AI has made them a lot better.

And, of course, they're related, sadly, with the geopolitical environment as well.

But, Ed, it's so interesting, Stephanie Aliaga, just talking about the zero-sum narrative.

Let's talk about, on the upside, the AI infrastructure trade, because it's getting a $21 billion shot in the arm.

Meta, CoreWeave have inked a massive new deal to supply AI cloud capacity through 2032.

Meanwhile, NVIDIA, of course, chips for everyone, nearing a critical technical breakout of more than 10% in the past six sessions.

Let's bring in Bloomberg's Ryan Vlastelica.

And it's so interesting because a lot of...

The deal with CoreWeave and Meta is around Ruby in architecture, so that's another good narrative for NVIDIA more broadly, Ryan.

But talk to us first about CoreWeave.

It's down because it's related to, well, debt that might turn into equity, but it's another sign that AI infrastructure is strong.

Yeah, absolutely.

Thanks for having me.