Nick Martell

And that's why that tiny division with just 7% of Toto's sales accounted for 42% of their total profits last year.

It's the new profit puppy, electrostatic chucks.

And that's why Goldman Sachs just upgraded Japan's Toto toilet stock to a buy, because technically...

They're now an AI company.

I think we can just say Toto.

We don't have to say Toto.

You just want to say bidet.

You can say bidet again, Jack.

So Jack, what's the takeaway for our buddies?

Clean it up over at Toto.

Because of AI, every company is becoming a chip company.

Yetis, here's the secret sauce of capitalism.

With great profits come a great competition.

Three years ago, we said on this pod that NVIDIA made 95% of the chips needed for AI computing.

Well, that monopoly has resulted in astonishing profit growth from $5 billion three years ago for NVIDIA to $100 billion last year.

Now, every company with a single computer science major on the staff sees NVIDIA's profits and says, how can we get in on that?

And that's

is why Google launched TPUs, their version of NVIDIA's GPUs.

And it's why Amazon, Apple, and Meta are all making or testing their own AI chips as well.

Or Jack, what about Rivian and Tesla?