Joe Lynam

What's the money gone on?

And you're also announcing a new investment of €4.5 million in developing AI skills for everyone.

How will that work?

In the world?

In the world.

A lot of people would be surprised at that.

Okay, so that could range from checking your Microsoft Copilot to predicting your next Netflix movie?

You're not worried about an AI bubble, are you?

Because there's a lot of money being spent by giant companies, including Microsoft Worldwide.

You guys are spending $250 billion on data center investment as well.

And there is a genuine concern that stocks related to AI have been overbought and it could all come tumbling down.

But I remember the dot-com collapse when dot-com became dot-bomb in the year 2000, 25 years ago.

And it reminds me a lot of that, i.e., I know you're not going to comment on stock markets, but valuations are getting out of control.

And they're not directly linked to revenue and earnings yet.

Now, there'll be some companies that are earning huge amounts of money, including yours.

But NVIDIA is nowhere near, in terms of earnings, what the stock price suggests it is.

HP only two days ago announced it was cutting 10 percent of its staff due to AI.

Isn't it true that AI is going to displace jobs, that the jobs that are currently out there and people might be studying for in universities might not exist in three or even two years time?

Okay.

Stay with us, Catherine.