dominating, these companies are the breath is going to be bad by definition. But if you move rates higher, tech is insensitive to rates. And this is the other mistake people are making. Now, the doomers will tell you that, "Oh my god, we need capital and this is borrowing money." And I've said repeatedly on everything I speak at, there is absolutely no sensitivity for rates in the AI trade. None. You can move it up a lot. If compute prices don't come down, Nvidia, it just doesn't matter. I mean, I know it's hard for
If compute prices don't come down, Nvidia, it just doesn't matter.