00:00Matt, talk us through why this is pretty amazing, 900 data centers being owned, managed, or indeed leased or co-leased by Amazon.
00:09Most people know that Amazon's cloud business is enormous, but this kind of shows us exactly how enormous, right?
00:15Most cloud computing companies don't tell you exactly where their facilities are, and one thing they really don't talk about is where they rent space.
00:22So these documents we reviewed, as you said, it's about a fifth of AWS's computing power, as of last year, was provided by co-location facilities.
00:29These things are all over the world.
00:31There's hundreds and hundreds of them.
00:32Just another way to underline how much both they've grown during the AI boom and just how wide their lead is in cloud computing.
00:39Because, Matt, if we kind of think about Amazon, we think Virginia.
00:43We think enormous data centers that they own, that they operate, and that's the majority.
00:48But why have they needed to build out these third parties, these co-locations so much more?
00:53So there's a couple of reasons.
00:54I mean, one is when they set up shop in a new market, you know, sometimes they're not confident enough in the ramp of demand that they want some options, right, go rent some space.
01:02You know, sometimes it's a speed-to-market thing.
01:05You can, you know, expand faster in Singapore by renting space than you can by developing or purchasing land and developing it yourself.
01:11So it's really a way for them to get flexibility, you know, particularly internationally, which is where we understand most of their colos are.
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