Karen Moscow

They're sticking to just that 50 billion in capital expenditure.

And the numbers thus far, particularly in the offering of cloud and the infrastructure side, really strong.

They showed that things are progressing.

They're recognizing revenue.

The margin is reasonable.

And so these are kind of all the messages that investors were hoping to hear from Oracle.

Brodie, take us inside the earnings call.

What was it like going into it?

We had broken this story about Abilene not expanding from what was a set 1.2 gigawatts to potentially 2 gigawatts, and the markets reacted.

As far as I can tell in the transcripts, it didn't come up.

But there were lots of questions about how Oracle is going to pull this off.

Brody's got the tech-in-depth newsletter out about how Oracle's pulling every lever in its AI cash crunch.

Really worth reading.

Brody, thank you very much.

That's the story right now, right, in markets.

What is happening on the demand side?

What is happening in the supply side?

And what is happening in the cash supporting all of it?

Matthew Weir, Goldman Sachs Managing Director, joins us now.

It's really interesting because for a very long time,