Dell's AI server growth is sustainable and durable due to institutional demand for on-premises agentic workflows.

and this week we'll see names like Dell reporting tomorrow.

So, let's look at Dell here. They had their AI server revenue jump to north of $16 billion last quarter. Its AI backlog was north of $51 billion. There was discussion then around whether this was just a massive backlog story or if this was a sustainable earning story.

We believe it to be very sustainable, very durable. Again, going back to founder-based investing, Michael Dell, one of the all-time great founders, sort of seeing around corners, and their move into AI gentic servers is you know, these AI servers to do the AI gentic work workload is is is you know, sort of par for the course on how he thinks about the world.

and we think it's very durable as more and more institutions want AI gentic workflow both in their physical four corners, but also their virtual four corners. And by having on-premises Dell AI servers, they're able to accomplish that.