Lou Whiteman

I still don't think it's going to get my attention as an investment.

To be fair, that is intentional, because that is what they said, that, okay, we overdid that, we have to get back in good graces with wholesale.

It is partially intentional.

Whether or not it's a good long-term strategy, we'll see.

Yeah.

And isn't it funny how, look, I don't honestly know what's going on here.

I think six months ago, if you announced this because our AI is so great, the market might be cheering it.

And again, there's still, now there's the skepticism.

Look, all of these companies overhired during COVID.

I do think some of this is just the smokescreen, using the smokescreen of AI to kind of right-size, but...

Everything said here, they have a ton of capital commitments coming up.

A lot of the revenue sources is OpenAI and a lot of that RPO.

There is real questions about revenue, so they do need to cut corners.

Interesting thing, Travis, and we hinted at this before OpenAI.

I think right now, game theory would suggest that even if any of these hyperscalers are having second thoughts, their most rational move is to keep spending.

We can deep dive on that if you want, but even if you think it's a mistake, you almost have to keep spending right now.

I wonder if that is true.

We don't know that's true.

Maybe they don't see it as a mistake.

The whole premise might be false.