Joanne Feeney

Yeah, good morning, Ed.

We're seeing all of that from AMD.

And let's start with the old boring part of AMD, right?

The PC CPUs, the standard server CPUs, where they're clearly continuing to gain share versus Intel.

And that's a good cash generator for the company.

So we shouldn't dismiss that acceleration that we saw there, that success that they're continuing to deliver in terms of share gains there.

Obviously, a lot of investors are still focused pretty much on the AI opportunity.

And what's interesting there is that they've just gotten started.

They've only now developed solutions for those accelerators that meet the quality for inference, for example, potentially for training that NVIDIA has.

In the past, when we've seen AMD leapfrog Intel back in the old days, they gained an enormous amount of share.

We saw that again this time around.

Now they have a new opportunity to gain share in the AI accelerator.

We're not seeing them gain share except for just a little bit as they get started today.

But I think that's something we can look forward to.

It still is, Ed.

We're still seeing the pie expand or the tide rise, whatever analogy you want.

But what AMD has that NVIDIA doesn't have is an opportunity to take a greater share of that pie as it grows.

And so I expect we're going to see both companies continue to grow very strongly over time.

We own both of those for clients.

I own both of them personally.