Michael Intrator

You know, it's just been, you know, an extraordinary week, both on the capital raise side as well as the client contract side.

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Yeah, first of all, good afternoon.

Thank you for having me.

But it has been a unique couple of weeks for us here because not only have we really made tremendous progress with the likes of Meta and Anthropic, but we've also had tremendous overwhelming success in the capital markets as we continue to build the funding mechanisms to be able to ensure that we are able to execute on our

roadmap for growth.

So, you know, we've been very creative about how we kind of look at the capital markets, making sure that we can execute on our plan in the most cost effective way.

And so, you know, we issued $8.5 billion worth of bonds

at a minus of a minus paper because of the quality of our counterparties and you know that was a tremendous reduction in our weighted average cost of capital and then we came back yesterday we did the largest dual offering ever

And that was both the convertible note that we issued as well as a tranche of high yield, really positioning us well for the capital requirements.

And it's just the oversubscription to these tools that we're bringing into market, to the paper that we're bringing to market, really provides tremendous transparency to us

to our investors, to our clients about how much access we are going to be given to capital as we continue to execute on this strategy.

And people are really confident the cost of capital keeps coming down in our ability to kind of drive the compute that is so dear to all of these model creators and people who are producing product for artificial intelligence.

You know, it's just been, you know, an extraordinary week, both on the on the capital raise side as well as the decline contract side.

Yeah, so look, our strategy continues to be success-driven, right?

And so we go out and we execute a contract like the one we just did with Meta.