Welcome to OK Computer. I am Dan Nathan. I am joined, I say this every time, by my landlord. This would be Trevor Marshall. He is the co-founder and CTO of Current. Welcome back, Trevor. Thank you. You and I, again, we have so much to talk about. I love having a CTO in my presence here because I got, listen, you've forgotten more about tech than I may

ever know, but through the lens of the public markets, you know, I think about these things a lot.

I think about the interrelation. I think about how investors perceive it on a real-time basis and then really

how they think about it going forward, what's going to play out and the like. So you and I are

going to spend a bunch of time on generative AI and what's going on right now.

It seems like there's a slight disconnect in the public markets at this moment.

And maybe I keep seeing headlines about valuations in the private markets skipping up.

I want to hear what's going on in FinTech, but also maybe how you guys are thinking about generative

AI. You and I've had that conversation a few times. And here's one for OK computer listeners.

We're going to go over the yen carry trade. And my main man is going to break it down for us because

in his past life, he was an FX trader at a large bank. So we're going to do that. So we got a lot to cover here. Let's start with Gen. A.I. So what's happened in the last, let's call it, month or so, we just got done with

Q2 earnings season. We have not gotten to Nvidia's earnings, but we've gotten to many of their

customers. So Nvidia reports, I think, on August 28th, and everybody's waiting for that because

40%, nearly 50% of their sales come from Google, Microsoft, Amazon, and meta.

So large customer concentration. We know that there's a lot of news in Invidia right now. There's some government

investigations of monopolistic practices. They just pushed out their next iteration of their high-end GPU.

That would be Blackwell.

So let's talk about what's going on because these stocks have been in a little bit of a down draft.

At one point yesterday, okay, that was Monday, August 5th.

Invidia just got killed.

It was down 14% of the opening.

Now, you look at the stock market a little bit. You recognize

...