Robert Bryce

And as you're saying that, it reminds me of a piece that just appeared the other day.

And I think, again, it was in the Wall Street Journal.

I think there's a policy afoot now in China where Xi Jinping of the Chinese government is telling companies that they cannot lay off employees and replace them with AI.

And that, I mean, how significant is that?

And remember Meta slash Facebook just a week or two ago announced it was going to lay off 10% of its workforce, 8,000 workers, and replace them with AI.

So-

You know, I'm no Luddite.

I use AI.

You know, I'm fascinated and amazed by the capabilities.

But again, the political shift that has occurred arguably really within the last six to seven months, it truly is astonishing.

That at least would be a start.

And they're working on that.

I mean, that is clearly the... For many of these hyperscalers, they don't have another choice.

They have to generate their own power because there simply isn't enough on the local grid.

But all of that said, that has knock-on effects.

So...

Because they have so much money and they're spending so much money, they are raising costs for utility-related kit across the spectrum.

So for gas-fired turbines, for transformers, for switchgear, for wires, for cabling, for labor, all of these things are inflationary.

But I think it's important, too, to remember some of the scale of these projects, Justin.

For instance, Meta slash Facebook is building this project in Louisiana.