Tell me about what that says about agentic demand right now and why you think it's still not okay to jump into the IPO waters with that kind of an environment.

Yeah, no, I mean, the demand is crazy.

What's happening basically is everybody's using these agents, AI agents, and the whole world is laser focused on agents, AI, and sort of, you know, that core part of it.

But what they fail to look at is that that drives a lot of other things that are around it, that are adjacent to it.

So if you're using agents to write software, well, all the software needs a database.

So that's that lake-based database that we launched.

And we only launched it last year.

Because if models are open for a lot of work, they've got to be less expensive, right? Especially if you're adding context to them that makes them more effective.

What do you make of the capabilities of Kimi, and i- how much of a threat is that to the frontier labs as we now look at almost trillion dollar valuations?

Well, I mean, look, I think the frontier labs are amazing, and they're gonna continue doing great.

And, uh, but what happened basically is that everybody wants to do, uh, cost controls, and they wanna control their budgets because as one executive of a Fortune 500 told me, uh, his costs of AI are increasing exponentially.

His revenue is not increasing exponentially.

So if this com- continues, he will go bankrupt, so he has to do something.

So then open source is how they wanna ...

You know, for the really difficult questions, let's ask the frontier American models and pay a lot for it.

Mm

Here's what CEO Ali Ghodsi told us yesterday.

So, you know, we're not, we've not said that we're doing any fundraise.

I know that there's, you know, uh, rumors about this.

Uh, but we're always talking to investors.

Why? Well, we're investing heavily into these new product categories.

We just launching, uh, a completely new product for our s- that's called Customer Lake, which is in the area of marketing.

So we're, you know, targeting, uh, marketing folks, which is not an area where we used to, uh, be active.

Do you stand by that? Uh, has anything changed in your mind in the last two weeks?

You probably are in a place where you can evaluate it, Ali, aren't you?

Yeah.

So I think Jensen is spot on with both of those.

Uh, you know, I, I ...

We actually did the calculation.

We think in the next nine months, but let's say around one year or two years, we're gonna have more software being written than in all history of mankind.

You know, you ...

Yeah.

Isn't it too costly to go from Snowflake to Databricks?

Well, uh, I think that's a great company.

Um, you know, just the two companies have different backgrounds.

Uh, we grew up in AI.

So we started doing AI, uh, you know, in 2009, frankly.

And then when the company started 2013.

Uh, we're at this point synonymous with the data and AI company.

Isn't it too costly to go from Snowflake to Databricks?

What's a SIEM?

A SIEM is a security information event management system that does all of your detections in your organization.

It detects if something is wrong, if something is suspicious, and all of that.

Uh, this is the year where it's gonna be disrupted.

You know, these old legacy systems are very expensive.

Getting data into them is super hard.

People are not even looking at all the data.

What does that mean? What's next?

You do? Yeah.

We do.

Um, but those things, they focus on how can we write, how can we help software engineers? What Genie Code really can do is it brings it to the knowledge worker, the people that create your dashboards inside of an organization, and they make sure that your revenue numbers are correct, or the people that make sure that the data that's coming in every day into the organization is correct, nothing breaks.

You know, there's not an outage.

You don't have like a blue screen, the dashboard is out, and you can't see it.

Or the people that are building machine learning models that can predict your prices or your costs or, you know, doing risk as-assessment with machine learning models.

It automates that portion, so it's sort of very complementary to cloud code and, you know, Cursor.

So how are you, how are you seeing the adoption of AI agents? What does it mean actually for the f- the strength of your data business?

And if what you're saying is that it's easier for non-technical people to make their own databases or the AI itself to make the databases, where does that leave this trade?

Yeah, I mean, markets are funny.

First, they ignore this problem for two, three years.

Now they wake up and they think it's going to happen in a week.

But the reality is that, look, this moat of it's very hard to move databases or it's very hard to use a different interface, teach humans to learn a new interface, that moat has decreased and almost is evaporating because humans can now just talk to an AI instead of learning a new interface.

Does that mean that everyone immediately is going to switch away? You know, it's going to take some while.

For instance, for databases, you need a really compelling reason to change database.

SAP is one that you bring up, but what about some of the more vulnerable software companies? What kind of companies are those, and when do you think they're going to be disrupted if they're not already being? I mean, look at Monday.com today, down some 20%.

Mm-hmm.

...

the quest for super intelligence, which is kind of intelligence that's like an almost, like godlike, it leads to recursive self-improvement of the AI, which then once you have that, it can cure cancer and solve all economical problems.

And we can probably 10X GDP over a few years period of time.

So what the hell are you talking about, that there's a physics problem? Like, it'll, anything, any of your cost equations are gonna pale in comparison to the economic value that this thing is gonna provide.

So that's like one camp.

And the way they're developing it is bigger and bigger clusters, more and more energy, and that's how they're going about it.

Mm.

Mm-hmm.

Number three, you need to put together amazing, stellar world-class team, right? That's all that matters 'cause if you're amazing, but your team is not, then you're not gonna go anywhere.

Even if you have all of these, it's not enough.

You need to also execute.

Like, you need to actually get the team to execute again and again and again and get to the results.

And that kinda matters more than anything else.

I mean, look at AWS, like, they're phenomenal at executing, right? And then, uh, finally, five, you need to do good culture.

Yeah.