00:00Mandeep, if I can bring you back in on a different story, this Broadcom-Google partnership, what exactly is it
00:06and why do we care?
00:08Well, so, and just to put it in context, so in this case, you know, the fact that we are
00:13talking about Intel, you know, a Broadcom is making almost $37 billion from one gigawatt of Anthropics orders,
00:24whereas Google is capturing maybe, you know, $13 to $14 billion of that simply because Broadcom is the chip design
00:32and networking company that is helping Google GPUs scale their designs and use that for Anthropic,
00:40which we know has scaled from $9 billion to $30 billion run rate over a span of four months.
00:46So this kind of growth is, I mean, not seen before, nothing that I can recall when it comes to
00:53software companies growing like that.
00:54And I think if there was more capacity available for Anthropic right now, they would grow even faster.
01:00So they are really going to Broadcom to scale the TPU designs.
01:05And in the process, Google ends up generating some high margin, you know, IP revenue without really getting into chip
01:13design or networking, which is what Broadcom ends up doing.
01:16But Google does capture a share of that economics because it's their IP that Broadcom is using for TPUs.
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