Eric Johnson

They're really reluctant to raise it.

They're not seeing the same levels of inflation that Australia is.

They have a little bit more capacity in the market.

And if anything, they're still talking about lowering rates at the end of the year.

So that's the difference.

There's also the huge momentum around AI and investing for AI.

So that's still driving fundamentally the United States markets.

They were, it's interesting, they were a very boring little

data center company that no one really was interested in many years ago.

People regarded them as a property play.

So they're always lumped in with the property sector and commercial property, building warehouses with computers in them.

No one really took much notice of it.

And then AI came along and suddenly they were the hot thing.

Really interesting, they're in an expansion phase at the moment, so they're trying to capitalize on the demand for AI, at least a phenomenal demand of computing power, the need for computing power, and that there is regarded as exponential growth behind that.

That's what the narrative is.

That's why everyone is spending so big on building all the infrastructure around it.

Not only the Aussie companies, but also the US companies, your Microsofts, your Googles, your Facebooks, your Amazons, everyone's spending.

That's right.

Satya Nadella was out here just a few weeks ago committing more than $20 billion on building.

That's a huge investment.