Jon Quast

they will contribute to the cash flow in theory.

Now, I'm with Matt.

I don't think that we see fully realized versions of either of these things in the next two years.

That would be my take.

I would push it for maybe Optimus.

I think I'd push that personally closer to five.

But it does need it to pay off, though, for sure, because it is investing a lot of resources.

I don't think that we should necessarily look at how the stocks are performing this week or today and make broad statements about how investors feel.

Maybe the reaction was different last quarter than this quarter, but I think that what's going on in a more general sense is, investors are saying, hey, we're seeing all these capital expenditures.

Can we just pause a moment and just

Appreciate the fact that we're using numbers over $100 billion here annually.

That's insane that that's even coming out of my mouth.

But investors are looking at the capital expenditures and saying, what is the return on investment?

And it's really hard to quantify.

And I think that for sure with Microsoft, they were looking at, yeah, the growth of the cloud unit and looking at the capital expenditures and saying, am I getting a return here based on what it's paying out?

And management pointing out, listen, we're not just investing.

in capital expenditures for our cloud unit for the AI models.

There's plenty that we're investing in for ourselves, not just our customers.

Look at it holistically.

Meta, a little bit more straightforward, I think.