Sridhar Ramaswamy

And you have OpenAI, Anthropic right behind them, and XAI.

So the competition is quite intense.

And we don't expect that battle to settle anytime soon.

So it's not so much about ROI right now.

Longer term, it does matter.

Of course, we need to generate free cash flows for the investments that these companies are making.

But at the same time, right now, it's more about the competition and the battle for leadership in AI, in my view.

Yeah, I mean, look, I'm not an expert on software, but at the same time, we are seeing broadening adaption of AI in the enterprise.

His view, as he stated yesterday, is that AI is more of an agentic in nature.

The software, essentially the tools.

Our software team agrees with that.

Our software has been positive on the sector.

But at the same time, I'm not an expert in that sector, so I'll probably refrain from commenting on that.

Great to see you, Caroline.

Yes, we had seven nine-figure deals, including a mammoth $400 million deal.

It reflects the confidence that our customers have both in where Snowflake is right now, but importantly, where we are going.

We all understand that software is being disrupted by AI in a very, very big way.

But what our customers understand is that for enterprise AI to truly succeed, they need a single source of enterprise truth.

They need built-in security, auditability, trust, and access.

Of course, you also need the best models.