Jaden Schafer

And so I think whether that translates into kind of this growth, this like sustained growth and this kind of breakout is going to depend a lot on the fab expansion plans.

Major memory manufacturers have been really careful about committing to large capacity increases.

They're kind of worried about oversupply if there was a bubble or if things shifted, if AI demand cools.

One thing I will say, though, is that Toto moving from kind of being this famous toilet brand to perhaps a semiconductor material supplier.

is just showing how much in kind of the overall industry, how much of a shift we're seeing and how AI is definitely changing supply chains.

I think the people that are winning is not just NVIDIA or AMD.

They include a lot of material sciences firms, a lot of niche component makers.

There's a lot of kind of this embedded

deep tech that's inside of chip production that is seeing just huge booms and is being incredibly successful and prospering a lot.

I mean, even to the point where I have a neighbor where I live in North Carolina who works for an organization who's absolutely exploding right now.

They've just famously done gas tanks for industrial

you know, buildings.

So if you have like a backup generator, you have an industrial gas tank that can power that for power outages and things like that.

And their business is exploding right now because all of these new data centers need industrial gas tanks for if, you know, power ever goes out and they need like a backup power supply.

So

There's all of these kind of like run-on industries and businesses that are benefiting from the AI boom that I think we don't talk about enough.

Right now, I think all over Japan, there's a lot of other legacy manufacturers.

I think there's Ajinomoto who is doing chip substrate materials.

There's like cosmetic companies that are supplying wafer cleaning agents.

I think there's companies that are being assessed through...