Emily Flippen

In our last segment, we'll get to some picks and shovels plays, but for now, let's keep it to the direct beneficiaries.

Anders, I want to start with you.

If an investor wants public market exposure to the data center build-out, where are you sending them first?

It's so interesting to hear you mention HPE because when I think about HPE, I think about the company that it probably was a decade ago, more than a decade ago, which was the consumer electronics laptop company.

I think it was the brand that made my first laptop, but they've spun off their consumer business now and

this is a business that is trying to reinvent itself.

Making that acquisition of Juniper has given it exposure to the AI data center boom and build out.

It's valued like a legacy business.

And to an extent, I can understand why.

I think Wall Street, myself included, as part of that, have a maybe outdated view of this company.

It's valued maybe a

bit like a value trap, but if they're able to get some of that exposure and get that return to growth of the AI data center build out, you can also understand how this is a business that has a management team that is trying to turn things around and is forward thinking in a way that the market is just simply not giving them credit for.

I think it's incredible.

We've been doing this podcast and talking about AI and data centers for so many years now, and nobody, Anders, has mentioned HPE before.

It's certainly one for us to dig into more.

Dan, I want to pass it to you.

What data center or even really data center adjacent opportunities do you think are going underappreciated by the market today?

Anders has set the bar high with HPE.

Well, after me talking about how power is the new real estate, maybe real estate is the new real estate.

Maybe real estate is a really getting disrupted.