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• 00:00I have met her and Google is that if your core business performs and you are committing to spending on AI, investors will reward you. And that’s very much the story here. 33% top line growth, the cloud. And that’s what it comes down to, right? I always have this line, Microsoft, which I’ve had a relationship with since I was a child, and I learned to use a computer was always good at getting people to pay for software that others will give away for free. That’s a true story. But they’re showing that their core business is cloud computing and azure weather the market. Number two, again, it’s the same as matter. Does your core business justify your rights to spend on AI development through hardware or infrastructure data centers? The Microsoft numbers tell that story very clearly. It did Mandeep say that actually it’s showing the monetization of AI that I think in that 33%, almost half of it are close to half of that was the result of of because the criticism was they released Microsoft co-pilot and many people thought I was prematurely. If you’re an everyday tech worker. Right, what am I going to use this for? Nonetheless, the numbers show that people were paying for it, and that’s impressive. Hey, Ed, we’re going to hear from Microsoft on the call. We’ll get some guidance there. Obviously, that will help people get informed about how the company is thinking about the current quarter and the future. Apple tomorrow. Oh, gosh, yeah, Mark Gurman said. I don’t care about the numbers for the most recent quarter. I just want to hear the Q & A. I want to hear about tariffs. I want to hear about the supply chain. I want to hear Tim Cook’s comments there. You agree? Yeah. Tim Cook famously says periodically, I am not an economist, but that will give us something about he’s not an economist, but he’s a supply chain expert. Yes. Like stories about totally hardware companies. I think people that make tangible physical stuff, they’re built from components that move from A to B all over the world and their cost implications. And there is no better microcosm of what’s happening right now in global trade than Apple. And I will go in saying, But remember that Apple is the master of managing the bottom line. So if you are a value long term investor, whatever you want to call it, people do pay attention to that because Apple is brilliant at boosting profit. You know, Apple has Mark Gurman has reported over and over again that Apple has struggled with AI, and we see that with what has happened with Siri. Do you think they should buy or would buy? Oh my goodness. Standalone For those listening already own it. I was smirking and nodding going, Yeah, yeah. I mean, Siri, you know, it’s been a bit of a flop. Generally, it’s a bit of a flop. A huge flop. Yeah. And you know, I have covered so many stories, I lose track. But I think that there is some discussion by Alphabet about working with Apple and Gemini, their model going forward. Apple’s looking at third parties to provide the underlying model that powers all of this. And as Mark has reported, the consequence of the poor rollout is they’ve now restructured that company at the top. Leadership changes organizational changes to get back on track. I still love my iPhone, but I do not use Siri ever. Hmm. Yeah. Yeah. Sam. Hey, before you go, we did talk Apple and Trump and tariffs. You’ve got a scoop when it comes to India and what they’ve been up to. Yes. So prior to the US election in November, Rivian arranged with a Chinese battery supplier called Goshen to move a supply of LSP batteries from outside of the United States into the United States. And they paid for it upfront, which is unusual for an automaker to do. You know, you don’t sort of say, okay, I’m not going to use these for a while, but I’ll pay for them anyway. And it did that to have a strategic stockpile as a hedge and insurance against the election. Then more recently, I found out Samsung, SDI, its Korean supplier, they said Samsung before these tariffs hit. We need you to move a very large inventory of battery cells from Korea to the US. Samsung did so. They have this hedge against potential tariff impact, but it’s not really about money. It’s an anxiety that borders goods get stopped and then you’re left short.