Tell me a little bit about that.

So in 2022, everyone heard the sort of chat GPT shot heard around the world, and this product that would move to change all of our lives.

We were working with some of the early Neoclouds before that sort of explosion had happened and trying to understand sort of how their business models operated.

One of those companies, CoreWeave, came to us in the first quarter of 23 and said, we have demand from some of the largest compute users in the world in the form of a contract where they were going to pay this company revenue per hour for compute, and they needed help financing it.

And we basically said to ourselves, we think we can apply some of the learnings we have from our previous infrastructure investing experience and use that technology to finance the beginning of this build out.

So it was very simple.

We set up a special purpose vehicle.

What should we be watching with respect to neoclouds and what's coming?