Mark Gurman

And that's why I think a lot of these software companies are looking to drive adoption.

Their economics aren't as good as the seed-based model.

And we're going from a seed-based model to outcomes and agents, which is a very different version.

just for reference for audience, NASDAQ 100 near session lows now down one and a quarter percent.

This story started in Europe in August.

I was there in London.

I remember the day all the European software stocks sold off.

Earlier today, we spoke to the Siemens CEO.

Let's get his take.

another software CEO whose fate is very closely tied to a relationship with NVIDIA.

And I think it's important to point that out.

But his argument is that actually specialized software is getting better because of AI.

You buy that?

I think so.

And I think that most...

I think a lot of the economics that we've made add the specialization of the niches.

So, you know, domain specific knowledge will always be very important.

And so, you know, I think just general knowledge is probably gonna be not take the economics.

And so what really matters is like being able to like put this into ROI.

Now, at the same time, it doesn't mean that if you have a stronger model, that doesn't mean it doesn't create more competition for existing incumbents.