Joanne Feeney

Yeah, clearly it's a good sign, right?

And it's been long in coming.

But the size of the market opportunity is still hard to define.

Clearly, China wants to encourage its own semiconductor industry to catch up to some degree to NVIDIA.

But, you know, it's a good sign.

It's incrementally positive.

We're not really going to model it in at this point because it's hard to know how large it could be.

Nevertheless, a positive sign opening up that market and also just to, you know, continue to make sure, as Jensen Wang has put it, that AI applications are built on the U.S.

technology stack primarily.

And because we have the leading chips, that's appropriate.

Yeah, I'm not a military expert, Ed, so I'm going to refrain from talking really about how this could change the military competitive situation.

If we don't sell these chips, if NVIDIA doesn't get to sell these chips, China will develop them.

And they've worked around the –

less capability of their own chips by redesigning inside the racks to try to save energy, to try to boost throughput.

And they'll continue to do that.

And they'll do that in AI applications.

They're going to do that in military applications, whether or not they can use those NVIDIA chips there.

So I think that the opportunity for us to have more sort of input and potential control over the future of this AI technology is really a worthwhile goal.

Yeah, I mean, Intel Carolina certainly had its problems.

I mean, they went down, in retrospect, the wrong path in terms of the process technology.