Nicolas Owens

And then similarly on the AI side, their TAM is ridiculous.

The $25 trillion.

What that is, is like a quarter of world GDP.

So they're saying AI is addressing basically people's work, right?

Like what's the value of a quarter of people's work?

We're going to address that.

Maybe, maybe AI will address that, but it doesn't mean it's going to turn into $25 trillion of revenue to this company, right?

So it's like an intellectual statement.

Here's the value of the thing that AI is potentially like,

augmenting or displacing one way or the other, but again, does not in any way equate in my view to that being the top line or bottom line figure that you'd expect to put in this company's income statement.

So background for that, or my view, so yeah, they're active, let's say, across the sphere of things that are...

They have their own LLM, Brock.

They have the server farm.

They are planning to put the GPUs in space, et cetera.

I primarily view their business plan as, let's say, extending what they did between rockets and Starlink potentially into space.

And so the main current of how we look at this business is as an infrastructure, like AI infrastructure for humanity or for the future.

And renting out the capacity that they've done to Anthropic, to Google, is very much a validation of that.

So they're saying, we built this amazing data center.

We can use it to train Brock.

We can also rent it out.