Gary Smith

The amount of data that's now being required by these cloud players is multiple more times than that. And you've got a lot of graphics going over it as well, which takes a lot of bandwidth. So the need for bandwidth has grown dramatically.

The amount of data that's now being required by these cloud players is multiple more times than that. And you've got a lot of graphics going over it as well, which takes a lot of bandwidth. So the need for bandwidth has grown dramatically.

And it sort of makes sense that the cloud players who want to connect their data centers, if they're putting a data center in India and they want to connect it to North America... they want to own the connectivity for that, and it's a much higher speed. So they're not just buying the capacity nearly, they're actually taking control and owning the cables. So there's been a sort of a...

And it sort of makes sense that the cloud players who want to connect their data centers, if they're putting a data center in India and they want to connect it to North America... they want to own the connectivity for that, and it's a much higher speed. So they're not just buying the capacity nearly, they're actually taking control and owning the cables. So there's been a sort of a...

And it sort of makes sense that the cloud players who want to connect their data centers, if they're putting a data center in India and they want to connect it to North America... they want to own the connectivity for that, and it's a much higher speed. So they're not just buying the capacity nearly, they're actually taking control and owning the cables. So there's been a sort of a...

You know, an evolution of that over the last five years, first 10 years was, hey, we'll take the capacity. Now they want to actually own, you know, now their networks are made up of a hybrid of typically where they own the cable or they own some more, you know, they rent it from, you know, the service providers. But you've now got, I think, 600 plus cables around the world, submarine cables.

You know, an evolution of that over the last five years, first 10 years was, hey, we'll take the capacity. Now they want to actually own, you know, now their networks are made up of a hybrid of typically where they own the cable or they own some more, you know, they rent it from, you know, the service providers. But you've now got, I think, 600 plus cables around the world, submarine cables.

You know, an evolution of that over the last five years, first 10 years was, hey, we'll take the capacity. Now they want to actually own, you know, now their networks are made up of a hybrid of typically where they own the cable or they own some more, you know, they rent it from, you know, the service providers. But you've now got, I think, 600 plus cables around the world, submarine cables.

You know, he got about one and a half million kilometers of fiber at the bottom of the sea facilitating this and the cloud players are really driving that marketplace now.

You know, he got about one and a half million kilometers of fiber at the bottom of the sea facilitating this and the cloud players are really driving that marketplace now.

You know, he got about one and a half million kilometers of fiber at the bottom of the sea facilitating this and the cloud players are really driving that marketplace now.

The evolution has been such that the first appreciators for that kind of technology was obviously the service providers.

The evolution has been such that the first appreciators for that kind of technology was obviously the service providers.

The evolution has been such that the first appreciators for that kind of technology was obviously the service providers.

And as the internet began to gain traction in sort of 2003, 2004, this whole sort of model, you began to see the cloud players get more interested in the network because if they're going to basically monetize and get to the eyeballs that they wanted, the network becomes actually important to them. And so there's been, I think, a steady increase in appreciation of that even prior to the AI piece.

And as the internet began to gain traction in sort of 2003, 2004, this whole sort of model, you began to see the cloud players get more interested in the network because if they're going to basically monetize and get to the eyeballs that they wanted, the network becomes actually important to them. And so there's been, I think, a steady increase in appreciation of that even prior to the AI piece.

And as the internet began to gain traction in sort of 2003, 2004, this whole sort of model, you began to see the cloud players get more interested in the network because if they're going to basically monetize and get to the eyeballs that they wanted, the network becomes actually important to them. And so there's been, I think, a steady increase in appreciation of that even prior to the AI piece.

And so they've become much more active. I mean, some simple ways of saying it, we really didn't sell to the cloud players until about 10 years ago. And we had zero market share in there. Now we've got the main market share with a leading player in connecting data centers and cloud players around the world. Submarine cables, same kind of thing.

And so they've become much more active. I mean, some simple ways of saying it, we really didn't sell to the cloud players until about 10 years ago. And we had zero market share in there. Now we've got the main market share with a leading player in connecting data centers and cloud players around the world. Submarine cables, same kind of thing.

And so they've become much more active. I mean, some simple ways of saying it, we really didn't sell to the cloud players until about 10 years ago. And we had zero market share in there. Now we've got the main market share with a leading player in connecting data centers and cloud players around the world. Submarine cables, same kind of thing.