Ian Verrender

That's right.

And there's a few more of them in there now.

But there was a lot of concern and consternation about what would happen if

the promised returns don't eventuate or at least don't eventuate to the extent that they'd been promised and so there's really quite nervous about nervousness about the um the valuations on these companies now suddenly you've got this situation where key ingredients are starting to be withheld now you know as i found out over the course of the weekend that sulfur and helium are two

ingredients that are absolutely vital for the manufacture of the chips that are required for these companies to pursue their artificial intelligence ambitions.

Now, if those key ingredients continue to be restricted, I think there's one third of helium comes from the Middle East and a half of all the sulfur.

And the sulfur is used for sulfuric acid.

So if this isn't

supplied, then the supply of chips starts to dry up and these companies can't continue down the path that they're going on.

So there's already all these concerns about overvaluation on global stock markets.

You add this into the mix and it's just creating an extraordinarily volatile situation for equity markets and, you know, increases the potential for a market, well, extreme market correction.

We're already in market correction territory because Wall Street is now down more than 10 percent from its peak.

Well, then just consider the idea of electricity, the price of electricity.

What this has shown, this conflict has shown as well, is just how much and how dependent we are upon the old traditional fossil fuels, oil, coal and natural gas.

And with these restrictions and the inevitable price rises that you're seeing for fuel and for not just for transport, but then to generate electricity.

What is the big artificial intelligence move based upon?

It's based upon supplying enormous amounts of power to data centers, which are going to be vital to run artificial intelligence.

Now, again, there are already massive concerns about where is all this electricity generation going to come from?

How are we going to fund it?

And now suddenly we've got the traditional end of the power supply