“It's a bit like national airlines. So countries will buy planes from Airbus and Boeing and then slap their logo on it. It doesn't make it like yours. It's still someone else's airplane.”

…Same with Japan, but getting in there is difficult. Korean data residency, Korean language. So it's like, okay, cool, you want data residency, but now we offer you the data center to go run your technology in. And we can profit from that because it's our local companies that provide that service.

…sovereign AI, which is, you know, I'm asking the question at a time when Jensen just did a charm offensive and investing offensive across Europe. He was in Paris, he was in London, he was in Berlin for GTC just yesterday or a couple of days ago. But from your perspective, that doesn't have teeth.

But open source could be, if you believe that open source is going to remain within reasonable earshot of closed source models, maybe there's hope there.

Yeah, but then they're Chinese. So you have another, you have another. It

could be American. It's a reflection. But they're not Frontier. None of the