00:00In this new era, what everyone is trying to work out is, aren't all the GPUs locked up at the
00:05hyperscalers?
00:06How is Michael Dell going to service those 1,000 new clients with the GPUs to build their own on
00:14-prem local AI factory?
00:16Well, the supply chain that Jensen has built and we've built together is continuing to scale up.
00:23And while it's true that there's more demand than supply, there's more supply that's being added.
00:29And, you know, customers are figuring out how they start to scale these systems up.
00:36So, you know, I think what's also happening is companies are understanding that when they reimagine their workflows using this
00:49technology,
00:49they don't get 10 or 20 or 30 percent improvement.
00:53They get 10 times or 20 times or 100 times.
00:56And that is really the speed that matters to make a business successful.
01:01We're doing it ourselves.
01:03NVIDIA is doing it.
01:04And so it's not a secret anymore that these things are possible.
01:08And every company wants to capture that speed and translate it into competitive advantage and outcomes.
01:15Last one on this.
01:16Like, Jensen outlined the Micron and the SK example.
01:19Three years ago, you gave them the heads up.
01:21Do they believe you?
01:23Are they sort of acting on that?
01:24They're investing.
01:25I mean, we're managing through it.
01:27But these things are very hard to predict, right?
01:30If you tried to predict, you know, in 2023 what the demand was going to be in 2027, you would
01:37have a hard time doing that.
01:38So it does take a long time to build these factories.
01:41But we've got great relationships with these partners we have for decades.
01:46That's helping us.
01:47And they see that we're winning, and so they want to work with us even more.
01:50And it's really a great long-term partnership, even though we'd like more right now.
01:57We're in the beginning of the AI build-out.
02:00This is literally the very beginning of the agentic AI build-out.
02:04We're going to be building this out for a decade, maybe more, because after this, digital agents will be physical
02:09agents.
02:10And we go to the physical AI.
02:11We haven't even started that.
02:13I mean, you saw some examples of that, you know, in the keynote, but that is a way bigger market,
02:19and it will require all sorts of new infrastructure capabilities.
02:23We're going to, for the very first time, bring IT to the world's 90 trillion other industries.
02:28And so there's a giant industry ahead of us to build towards.
02:32Now, meanwhile, the supply chain is more than doubling every year.
02:35I mean, it's probably quadrupling every year, but we'll still have a hard time keeping up with the build-out
02:41for at least a decade.
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