Sam Unsted

I think so far, you know, he's surrounded himself, particularly on the economic side, with a lot of kind of big, you know, wonky figures, if you like, you know, these kind of like big names within economics.

I think where there's still a lot of questions, we had a nice piece on Bloomberg about this over this week.

Foreign policy, don't really know anything there.

And as I was just mentioning, the moving gilt markets has been almost entirely down to geopolitics over the course of the last week.

So that also needs to be kind of fleshed out as well.

Yeah, I mean, there are a couple of inflationary impulses to think about with AI.

So as you mentioned with memory chip prices, so you had a really neat thing happen today where we had Micron Technology, which is the biggest memory chip maker in the world, with incredibly good results.

I mean, way, way ahead of expectations, huge demand, revenue, profit, everything that could be.

Yeah, it's astonishingly high, right?

So that's one side of the AI story.

And so all the chip makers and the memory companies are all going up with them today and by a lot.

And Micron, remember, is a big company.

I mean, they're already worth nearly $2 trillion.

So it's a huge move.

But on the complete other side of that, you get this other question about the reason that they're making this huge margin, which is that memory chip prices have gone through the roof because everything is being directed to AI.

So the consumer stuff, so everything that's... We're talking memory chips that go into basically anything electronic that exists in the world, from phones with Apple, with iPads and MacBooks.

You're talking from there to...

Fridges, cars, like basically anything anyone buys that has any electronics in it will have a memory chip in it.

So you're getting an inflationary impulse coming from that because as Apple and Apple being kind of the biggest electronics company in the world, they're pushing through prices.

So if they're not able to sustain those margins and they're having to do it.