“spend meaningfully more in 2027.”

“We will still not have enough capacity to meet all the demand we have in 2026.”

“lion's share of capacity in 27”

“very possibly be a trillion dollar annual revenue business for us in time”

“the broadest functionality across both cloud core and AI”

“clear line of sight to strong financial returns”

“our custom silicon business is now one of the top three data center chip businesses in the world”

“save us tens of billions of dollars of CapEx each year and provide several hundred basis points of operating margin advantage”

“land, power, buildings, chips, servers, and networking gear”