10/22 4/25 800MM Big Six* USA Technology Company CapEx *Apple, NVIDIA, Microsoft, Alphabet, Amazon (AWS only), & Meta Platforms Source: Capital IQ (3/25), Morgan Stanley 2014 2024 CapEx, $B +63% $212B estimates. Source: The Information, public estimates 2022 2024 Revenue (Blue) & Compute Expense (Red) +$3.7B -$5B Details on Page 173 2023 China Rest of World (excl. China & USA) USA 2014 20236 Admin Costs Margins Marketing Spend Effectivity ROIC Revenues Sales Productivity Customer Service Production / Output Revenue-Focused Cost-Focused ‘Traditional’ Enterprise AI Adoption = Rising

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal. JULIA_WARN_COLOR The formatting Base.warn_color() @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase.CHAPTER 34. PERFORMANCE TIPS

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal. JULIA_WARN_COLOR The formatting Base.warn_color() @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase.CHAPTER 34. PERFORMANCE TIPS

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal.CHAPTER 30. ENVIRONMENT VARIABLES 397 JULIA_WARN_COLOR @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase. At the top, the inferred

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal.CHAPTER 30. ENVIRONMENT VARIABLES 397 JULIA_WARN_COLOR @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase. At the top, the inferred

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal.CHAPTER 30. ENVIRONMENT VARIABLES 397 JULIA_WARN_COLOR @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase. At the top, the inferred

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal.CHAPTER 30. ENVIRONMENT VARIABLES 401 JULIA_WARN_COLOR @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase. At the top, the inferred

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal.CHAPTER 30. ENVIRONMENT VARIABLES 401 JULIA_WARN_COLOR @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase. At the top, the inferred

For example, the variable name δ can be entered by typing \delta-tab, or even α̂⁽²⁾ by \alpha-tab-\hat- tab-\^(2)-tab. (If you find a symbol somewhere, e.g. in someone else's code, that you don't know the section on The Julia REPL. JULIA_ERROR_COLOR The formatting Base.error_color() (default: light red, "\033[91m") that errors should have at the termi- nal.CHAPTER 30. ENVIRONMENT VARIABLES 401 JULIA_WARN_COLOR @code_warntype is that non-concrete types are displayed in red; since this document is written in Markdown, which has no color, in this document, red text is denoted by uppercase. At the top, the inferred