Jason Helfstein

I think they absolutely do know.

Now, they don't know, like, does it take 18 months to get a data center out?

Like maybe it used to.

Now it's 24 months.

Maybe they're worried it's going to go to 36th.

just because of all the backlogs, maybe pricing comes down.

So there's timing.

I don't think they know quarter to quarter, but I think if you're looking at over the next four to five years, I, you know, unless like everybody's like way wrong on the adoption of AI, I think they actually know with pretty high certainty.

Well, I will say this and they did.

Here's the rub for Jazzy.

He was late to recognizing the importance of AI.

So Google was always first, right?

They were like they created the transformer model.

They were always like at the leading edge of machine learning.

You know, Microsoft like smartly listened to, you know, Sam Altman when he's like, you need more capacity for me.

They're like, OK, like

Now, Microsoft could say like they saw it too, but like I'm going to kind of believe that like ultimately Microsoft had to deal with open AI and they kind of trusted his signal they were providing and Amazon kind of just didn't see it.

And so they had this like very successful, we'll call it legacy cloud AWS business that wasn't necessarily based on GPUs.

and AI and it's doing great and yes competition like had been increasing and they were kind of doing their best to fend off Azure and fend off Google Cloud but then AI hit and literally they could not move fast enough or spend the money fast enough to catch up but now I you can make an argument like you could see them catching up and so they've kind of made up for like some of their past mistakes.

Sure.