Scott Devitt

And now we're trying to resort, um,

landscape to determine that again.

And so uncertainty leads to, I think, lower multiples for a period of time and buying opportunities to the extent that you find the right company.

Sorting through the rubble in software companies, I think, can lead to some success, but with patience, because it's going to take some time to figure it out.

doing very well in search.

I mean, they're growing the search business 17% in the quarter.

The cloud business was expected to grow 38% and grew 48%.

That's a business that's going to be approaching levels of $100 billion of revenue in 2026.

And so I think there's a digestion period around this spend and the implications in terms of

you know, free cash flow and a DCF.

But I think this is very positive for the AI ecosystem overall.

doing very well in search.

I mean, they're growing the search business 17% in the quarter.

The cloud business was expected to grow 38% and grew 48%.

That's a business that's going to be approaching levels of $100 billion of revenue in 2026.

And so I think there's a digestion period around this spend and the implications in terms of

you know, free cash flow and a DCF.

But I think this is very positive for the AI ecosystem overall.

doing very well in search.

I mean, they're growing the search business 17% in the quarter.