NBIS is early in its AI growth cycle; supply constraints on compute support future upside for companies with sellable capacity.

Coreweave, I ran, Nabias are just getting started.

So, to me, if we are going to be in a supply constrained space, anybody who has active compute that they can sell is going to be able to sell it either at a great price, to be able to sell it in no time.

So, I still truly believe that companies like Coreweave, like I ran, like Nabias, even though I don't own that, are just getting started in this AI story. And it's going to get a lot crazier next year.