Seth Fiegeman

It's going to run on Apple servers, but Apple's paying Google to develop it.

And that's a bit of a setback for Apple's internal models team.

And so they basically for now have split it, whereas the models that run on Apple devices themselves, the ones for Apple intelligence, those are those in-house models, which have been somewhat problematic, depending on who you ask.

And then for the Siri models, they're moving to Gemini to power some of it.

So it's an interesting dynamic they've created there.

If you look at the UAE, the UAE now literally leads the world in the percentage of the population using AI, 59.4%, number one.

Singapore, about a point behind, is number two.

But what we're seeing here in the UAE is across the economy, whether it's companies like Adnok and the energy sector or the financial services or the healthcare sector, all of this is being put to work.

because they need power, right?

The Gulf is a very interesting market for data centers because in the US and Europe, in many ways, they're kind of tapped for power.

Everyone is kind of scrounging for a megawatt here or there.

In the Gulf, you know, they have oil power and they are really keen to want to diversify their economies.

And it seems like a pretty natural fit for data center companies.

So we've seen Microsoft, we've seen Oracle,

want to expand their presence out there.

And today is kind of the latest example of Microsoft coming out to say, look at all the money we're spending.

This is a serious bet for us.

Correct.

Yeah, we saw them make about a $10 billion deal with an Australian company this morning.

And it's funny because 10 billion sounds huge, but it's really like, what, 15% of what they've announced so far?