“Our belief is that the value of compute per watt will increase over time, not decrease. And the reason for that, I think it should be obvious to people is that as you improve AI, as the models get better and better, they're able to you get more useful intelligence per watt. And the value of that compute is proportionate to the useful intelligence per watt produced. And that's why you see things, even old computers like H100s, renting for more than they rented when they were new. And I think that's likely to continue. I think we're going to face a shortage of superintelligence compute”