Seth Fiegeman

I think it's exciting what they're doing in the SMB segment as well.

It unlocks a lot of ability for companies to essentially reach customers with just a credit card and asking for the ROI from ad campaigns.

Our biggest challenge is not a risk of getting ahead of demand.

It's actually keeping pace with demand.

And what we are finding is that our customers, whether they be enterprises across the economy or governments or nonprofits, they are looking to us to build out this capacity.

They want to use this compute.

So for us, if we build it, it will be put to use.

As it's put to use, there will be a return to our shareholders.

Yeah, I think it allows them to be flexible and nimble.

I think that standing up these data centers is no small feat.

And a lot of times it requires various players, it requires the data center capacity, the power.

And so I think it's encouraging to see Microsoft collaborate with the ecosystem

and plug in partners.

And so to me, I think it makes sense.

I think it's also a testament to the demand signals they're seeing and kind of the workloads really take off.

And, you know, I think AI is really hard to do.

Not every company that is trying to do it is successful, but I think the ones that are finding success are seeing tremendous promise.

And so I think that's what essentially gives people confidence to invest here.

Yeah, we're all constantly managing position sizes in the portfolio, but in my opinion, I think that you want to be invested in the areas where there is essentially a bottleneck, there's scarcity, and that performance depends on it.

So I think that HBM, memory...