Rob Armstrong

Did I pronounce that correct, John?

I think so.

I don't know which syllable to emphasize really, but that's what I'm going with.

Like cerebral, but with an S on the end.

This is a company that makes chips for AI.

Are we watching as NVIDIA's...

monopoly on chips for AI is being broken up in real time?

Of course, there's something else of NVIDIA's that everyone wants, which is not just chips, but it's profits.

And I've been sitting here in this very booth for some time now saying, yeah, NVIDIA is amazing and it's the most valuable company in the world and it's so profitable, but capitalism works, which means somebody is going to look at those margins and that growth and come in and try to reproduce the product or compete or get their share.

What I'm getting at is if Cerebrus works...

Should we be worried about the valuation of NVIDIA, which is the largest company in the world and the cornerstone of the S&P 500?

Or do these things take a long time, I guess, would be the answer to that.

What this brings to mind for me a little bit is ARM, which is the UK chip designer that basically designed the low power chips that people use in smartphones.

And for years, everybody looked at their profits and said, you know, Intel is going to make a mobile chip or whoever is going to come in and get a chunk of this market.

But arms incumbency turned out to be incredibly hard to break for the reasons you just described.

Once the industry is kind of running on your rails and your software, it's an enormous pain to switch over.

An ASNL as well.

through the nose for the product.

Unfortunately, we do not have a monopoly on listeners' time.

So we will be back in just a moment with Long and Short.