Arm

: They figured out parts of that. I mean, they figured out the layout chip. And by the way, CC and the team did a fantastic job of figuring it out. So yes, but the world figures it out, right?

: They figured out parts of that. I mean, they figured out the layout chip. And by the way, CC and the team did a fantastic job of figuring it out. So yes, but the world figures it out, right?

: They figured out parts of that. I mean, they figured out the layout chip. And by the way, CC and the team did a fantastic job of figuring it out. So yes, but the world figures it out, right?

I think, I mean, they're making lots of investments and I think they're scaling and I think others are looking to catch up in that space too. And they have a great lead. And this is also true in technology and has been for a long time is that somebody jumps ahead and figures out, gets a lead and it's a benefit for them for a while and others catch up.

I think, I mean, they're making lots of investments and I think they're scaling and I think others are looking to catch up in that space too. And they have a great lead. And this is also true in technology and has been for a long time is that somebody jumps ahead and figures out, gets a lead and it's a benefit for them for a while and others catch up.

I think, I mean, they're making lots of investments and I think they're scaling and I think others are looking to catch up in that space too. And they have a great lead. And this is also true in technology and has been for a long time is that somebody jumps ahead and figures out, gets a lead and it's a benefit for them for a while and others catch up.

And I think you can look at some of the HBM memory and some of those other fabs that are coming up and they're catching up and finding other new ways to do that. And there will be other inventions that leapfrog over time. But obviously fabs are hugely capital intensive investments and others like that.

And I think you can look at some of the HBM memory and some of those other fabs that are coming up and they're catching up and finding other new ways to do that. And there will be other inventions that leapfrog over time. But obviously fabs are hugely capital intensive investments and others like that.

And I think you can look at some of the HBM memory and some of those other fabs that are coming up and they're catching up and finding other new ways to do that. And there will be other inventions that leapfrog over time. But obviously fabs are hugely capital intensive investments and others like that.

And so I am sure that others will eventually find new and different ways to innovate around that too. It has always been true in technology.

And so I am sure that others will eventually find new and different ways to innovate around that too. It has always been true in technology.

And so I am sure that others will eventually find new and different ways to innovate around that too. It has always been true in technology.

I wouldn't have anything to announce there, but we partner with lots of folks. We partner with Samsung. We partner with Intel. We partner with others that have their own fabs as well and buy lots of other stuff from them, from memory to CPUs and other things like that. So we buy parts from lots of different fabs around the world.

I wouldn't have anything to announce there, but we partner with lots of folks. We partner with Samsung. We partner with Intel. We partner with others that have their own fabs as well and buy lots of other stuff from them, from memory to CPUs and other things like that. So we buy parts from lots of different fabs around the world.

I wouldn't have anything to announce there, but we partner with lots of folks. We partner with Samsung. We partner with Intel. We partner with others that have their own fabs as well and buy lots of other stuff from them, from memory to CPUs and other things like that. So we buy parts from lots of different fabs around the world.

Yes, it is. We've made significant investments there. And it's a range of things, by the way. It's a portfolio. And this is not a new plan for us. Over the last five years, we have commissioned more renewable power projects than... Each year for the last five years, we've commissioned more than any company in the world.

Yes, it is. We've made significant investments there. And it's a range of things, by the way. It's a portfolio. And this is not a new plan for us. Over the last five years, we have commissioned more renewable power projects than... Each year for the last five years, we've commissioned more than any company in the world.

Yes, it is. We've made significant investments there. And it's a range of things, by the way. It's a portfolio. And this is not a new plan for us. Over the last five years, we have commissioned more renewable power projects than... Each year for the last five years, we've commissioned more than any company in the world.

And that's bringing on new power into the grids, whether they're new solar farms or the new wind farms, and now we're adding nuclear to that. And so it's just a portfolio of that. I think the world is going to need more carbon-free energy. And compute and data centers are a big portion of that. And we're pushing hard to make sure that the world has enough sources of that.

And that's bringing on new power into the grids, whether they're new solar farms or the new wind farms, and now we're adding nuclear to that. And so it's just a portfolio of that. I think the world is going to need more carbon-free energy. And compute and data centers are a big portion of that. And we're pushing hard to make sure that the world has enough sources of that.