“Of the sort of 45 gigawatts or so of total energy that's supposed to come online next year, 10 to 15 gigawatts of that could now be in danger of not coming online because it's in Texas, because they all expected that the moratorium that was put on for building data centers in Texas up through the elections would just be removed… This is going to slow down a lot of the AI development. This is going to make compute capacity much more constrained and ergo much more expensive.”

And the Texas governor race was the one that they seemed most upset about. There was this kind of like cope moment of like, oh my God, well, they're only reporting the liberal or the, you know, the blue district so far. Like we still have a chance because they know that, you know, of the sort of 45 gigawatts or so of total compute that's of energy that's supposed to come online next year, 10 to 15 gigawatts of that could be now in danger of not coming online because it's in Texas, because they all expected that the moratorium that was put on for building data centers in Texas up through the elections would just be removed and they would all go back to building and everything would be great. And so this is going to slow down a lot of the AI development. This is going to make capacity, compute capacity much more constrained and ergo much more expensive. And it's going to sort of hurt the growth, not just of the frontier labs that need the compute, but of all the ecosystem of companies that are sort of playing into the quote unquote AI trade, all of the kind of chips and neolabs and cloud resellers, all of that. So, you know, that is potentially going to hurt this kind of bull market that we've been on for a long time. So, so, so they're like getting a little…