AI is still so early, but so bullish. We're witnessing a huge unlock of economic value with the adoption of AI models like Claude, and more recently, agents like Grok Bot. This then filters down into the most bullish of bull points for AI. Enterprise AI adoption increases productivity -> increases enterprise earnings -> increases token demand as a flywheel effect -> increases ROI for the AI labs -> increases demand for AI infra e.g. compute. I recently heard from an ex-colleague that a large consulting firm is increasing their AI spend by 100x at their London office for their back office teams. Just incredible growth really. We can kinda see the enterprise flywheel manifest in the $NVDA earnings too. AI Clouds, Industrial & Enterprise revenue was up 25% sequentially compared to 13% for the hyperscalers. I think that this is also why $NBIS and $CRWV keep signing enterprise and lab capacity faster than capacity comes online too. 2027 capex will be huge because the labs / hyperscalers still can't get enough compute to serve enterprise demand right now...and that's before AI adoption has scaled properly across the wider economy. Fun times ahead with AI.