Sharing how I view the data center value chain:
I think it's fair to break down the ecosystem into the semi value chain, the data center, and the services that sit on top of the data center.
1. Semiconductor value chain:
Semiconductors are at the heart of the data center.
$PANW conference call summary: We executed during the quarter. Our 10 highest-spending customers increased their spending by 36%, but we are starting to see spending fatigue for cybersecurity budgets, and we saw softness in the U.S. Federal government spending. This started late
$ORCL conference call summary: Spoiler alert: We have a surprise with $NVDA coming next week. In the meantime, we are building data centers at record levels and these are the world's largest data centers. Still, it will take us 24 months to get these all online. RPO is growing