00:00You've got Apollo and Blackstone said to be working on a debt financing deal to help
00:03Anthropic build out its AI infrastructure. How significant is it in terms of private credit
00:10and also chip financing coming together? Yeah, it's I think what we've already seen
00:17obviously in the public equity markets a huge surge in a lot of the related AI baskets and
00:24thematics and stocks, but it's seeped obviously into the private credit space, into other assets
00:31where really everyone kind of wants a piece of the AI exposure and opportunity. And clearly
00:39this particular deal again is showing us that there is high financing needs to build out these
00:46ecosystems and massive bets are being made on who potentially could be the winners in this particular
00:52AI race. But in terms of like when we're looking at paybacks and opportunities, when we're looking
00:58at things like data center build outs, these are our multi-year and multi-decade opportunities,
01:06hence the attraction for the debt offerings and the appetite to get involved, I think.
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