Seth Fiegeman

You know, HCDs and now NAND, there's becoming more of a shortage.

And so to me, the industry is getting better and it's a critical component.

So, you know, from my perspective, there is opportunity for these companies to compound value over time.

Yeah, well, I think it's novel.

But, you know, you look at the cash generation of a lot of these companies, they're really blue chip.

And, you know, to me, I think that this investment is smart.

And to do some the property level of debt financing, I think can make sense.

In addition, I think that the infrastructure, you know, there's a lot of debate of like the useful life of this.

I know that NVIDIA comes out with a new generation every year, but

I think that these are longer lived assets than people appreciate potentially.

And they're not just like three years obsolescence, but probably more like five or six.

And so, you know, in terms of the appetite to lend against it, I think that in three or four years, it's going to be more commonly accepted.

And I think we're probably on the path there because these are really like, I think, you know, revenue generating assets.

And there's a lot of productivity coming off of them.

Absolutely.

These are very elevated multiples, and so they need to keep delivering the growth here.

Palantir is definitely, I think, at the tip of the spear in terms of implementing AI.

They started doing that in the government, and now their commercial business is growing rapidly.

I think the government shut down.

I think that's probably a temporary thing.