Stephanie Flanders

It's true in the U.S.

with certain accounts.

It's true in Canada.

It's true in the Southeast Asian region where we operate a lot as well.

So we do see that the technology we've built and the differentiation of it, which is AI that you can customize and deploy wherever you want, is something that does resonate with the geopolitical events that we see.

Well, I don't think this is true.

It turns out that China does very well without NVIDIA chips.

We've seen China rise on the open source front, and we have been at Mistral, basically the spearhead of open source in the West, outside of China.

China is not behind the West.

I think this is a fairytale.

In AI, they are very much at parity.

And the year ahead is going to be extremely interesting in that respect.

We care about Europe maintaining its position, Europe maintaining its ability to train models, because we don't think that we should rely on open source Chinese models in very critical applications.

So we need to be able to...

to create our own models and to sell them to enterprises.

So it's going to be very interesting, but it's a fairytale that China is behind.

Yeah, we do.

We should cross a billion by the end of the year.

We are about to do around a billion in CapExpanding this year on our Endeavor Mistral compute.

What we've done last year is to start and build our clusters and to fill some of the data centers we're renting with these clusters.