Seth Fiegeman

They're a little bit less high profile, but they are certainly seeing

very strong growth inflections because they are just part of the overall ecosystem that is required to build out all these data centers, power all the data centers, do storage, memory, all the stuff that is involved with AI and having it produce the material that people are using.

It's a much bigger trade than it was a couple of years ago for sure.

Yeah, well, I think that AI is a huge productivity driver, in my opinion.

And I think that these companies are really well positioned to essentially capture that and be the platforms for, I think, growth in the economy.

And what I'm looking for going forward is like,

You know, the new use cases really come through like agentic AI, for example.

I think it's to fill this capacity.

It can't just be you and me using Chachamiti.

It's got to be, you know, thousands of agents for each company, like making decisions and executing and unlocking.

I think labor essentially is what I'm looking for.

And that's what's exciting going forward.

Yeah, well, I think that they had a nice earnings report, and I do think that there seems to be a lot more momentum now.

You know, you talk about the deal that they just did today, and just essentially, like, rolling out a lot more compute and accelerating AWS, I think, is really good for the business.

I think they're well-positioned to essentially leverage AI in their e-commerce business as well as be an infrastructure provider.

So I don't think you can count them out at all, and...

It's good to see them outperforming.

Yeah, well, I think that AI is a long-term investment for Meta.

And I think that Mark is probably digesting the heightened level of CapEx and the depreciation that's coming through the P&L.

But I think that's a little bit too short-term to view it.