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If I'm an Nvidia investor, I'm listening to this Patrick. There are some bulls on the street, I know, who actually get more excited about the second half. And I'm curious what you think about that, and among the reasons for the excitement, they talk about it, as you suggested, there may be this China compliant chip. They talk about, hey, listen, the cloud giants, we heard, they're going to keep spending, spending, spending, and the business with Saudi Arabia and the UAE. Am I missing anything, Patrick?

No, I think, uh, Nvidia's been back-end loaded for a while, and that's when, when Blackwell hits, uh, which, um, does a lot more tokens per dollar per second, and a lot of the hyperscalers are, are actually waiting, uh, for Blackwell. I do think that they didn't buy as many H series as they could have because the economics are so good for them. I also like the move where Nvidia derisked Blackwell a bit, uh, by pulling back on an aggressive chassis design where you can actually use a lot of the same components for the Blackwell 200 as you did for the Blackwell 300. So, uh, second half is, is going to be big. Uh, the capex forecasts indicate that, and Nvidia seems appears to have everything in line. Uh, looks like a little bit less risk than the first half.

I want to switch gears, Patrick, get your thoughts on another tech story, which was Salesforce acquiring Informatica for $8 billion. Here was the, the skeptical take I, I saw from RBC's Rishi Jaluria. Rishi telling his clients, while on paper the deal can make sense, integrating MuleSoft, Tableau, and Data Cloud, and using that combination to power Agent force, given the lack of integration of Salesforce assets, we question this vision, he says. Furthermore, even if this logic makes sense, we wonder if there was, if there's any major advantage to buying Informatica versus partnering. What's your response to that, Patrick?

So I do like the thesis here. Uh, with all the CIOs that I meet with, one of their top five impediments from rolling out and scaling generative AI is the lack of a coherent data management strategy and the tools to be able to pull all that data. In the Gen AI world, you're going from east and you're going from west as opposed to the, the ML world, which was north and south. And what that means is, uh, instead of just, let's say, uh, activating CRM data, you're connecting CRM with ERP to SCM to all these other data sets. And that's why this, this makes sense to me. It also, uh, is parallel to the big growth in Data Cloud that we've seen, uh, with Salesforce. We've seen this massive growth with even companies like SAP, right? The precursor to big Gen AI action is getting your, your data in line. I do think the comment is fair about a lack of integration, but I expect that integration to happen and needs to happen at a very quick pace. Complexity is another one of those top issues. And if Salesforce can, uh, reduce some of that complexity, reduce some of those steps, reduce some of those operational challenges, I think they have something here.