Jim Kavanaugh

Our book of business, we exited 2025, inception to date, so call that almost two years, $12.5 billion book of business.

By the way, in the quarter, it was north of $3 billion, to your point, so thank you.

Underneath that, it's really made up of, again, platform model, because we participate in all facets of models, software, agents, assistance, orchestration.

So software book is about, excuse me, north of $2 billion.

By the way, in 2025, up nearly 80% overall.

The remaining, call that north of $10.5 billion is our consulting book of business.

That's our strategy and technology advisory work around AI, that's our data transformation services to get companies ready to scale and deploy AI, and that's our intelligent operations where we do application modernization, hybrid Cloud architecture, etc.

So that gives you a little bit of the background.

We're extremely excited about where we think AI is going.

You look at studies that have been produced, whether it's BCG, McKinsey, you name it, you know, they're calling trillions, like four trillions of value creation over time around AI when it's at peak.

And oh, by the way, interesting thing on that, just a little sidebar, only about a quarter of that is productivity.

Three quarters of that is actual new sources of growth, new industries, new companies, new markets.

And having an innovative tech stack and a consulting business at scale plays to our advantage.

Now get to Confluent.

Confluent, we're extremely excited.

Open source company.

We're very big in open source, starting with the initial Linux foundation that we started, but Red Hat acquisition, HashiCorp, Confluent plays extremely nicely to our strategy overall.

Confluent, leading open source company around data streaming, events, real-time foundational for Gen AI overall.

It is going to become the glue.

If you think about Gen AI, yes, you've got models.