Nouriel Roubini

The euro has to be well below parity.

No, I don't think so.

I don't think so because, first of all, to build AI data centers, there's supply chains of construction, of equipment, of everything, cooling, heating system, you name it, the chips, supply chains, and so on.

And this booming CapEx is maintaining economic growth strong, and that's gonna be good for the economy and for many other sectors.

And secondly, it's not just the hyperscaler Mark VII doing investment AI.

If you have any S&P 500 firm today and you don't have AI strategy, you're dead because you could be disrupted by a competitor or by tech firm or by whatever.

So everybody's trying to play with AI.

Now we're not yet seeing the significant increases

in productivity growth.

We see them at the macro level, by the way, but we don't see them for every firm.

But the profit margins for every S&P 500 firm has increased.

Real revenues for all S&P 500 firms have gone up since strategy has been launched by 15%, so 5% per year.

So there are these signs that there is this increase in productivity growth across the economy.

So everybody has to have an AI strategy.

So everybody's doing CapEx.

It's not just a MyOperScaler story.

Well, we need it because we have a bottleneck of skilled labor.

You know, TSMC is building a factory in Arizona.

I spoke with people in Taiwan.

I said, we don't have the skilled workers in Arizona, so they have hundreds or thousands of engineers there.