Cloud providers and semiconductors/storage are in a push-and-pull dynamic. Spending is plummeting, while the 'shovel sellers' are surging. The relationship between the two is already stretched tight, and storage pricing is being passed on to the consumer side. Here's what could happen next: A. Capital expenditure remains unchanged, compute power growth slows. Cloud and models, along with semiconductors (except storage), face pressure, while storage logic continues. B. Capital expenditure increases, compute power growth is sustained. Cloud takes the hit, and everything else follows the same logic. C. Capital expenditure decreases, compute power growth slows down, cloud rebounds, and everything else faces pressure.