Hey, it's Kramer, and this is my morning take on the market from today's

CNBC Investing Club morning meeting.

There was an interesting deep dive by Morgan Stanley on AWS this morning.

Yes.

Talking about the data center square footage growth at the company and the result of their deep dive of their analysis

is that Amazon is spending more, which gives them more conviction that revenue growth

could reaccelerate to 20% plus.

That'd be huge.

From in 2026, from 17 and a half this last quarter.

If that's the case, I'm telling you, I take it to 250. That was a very, very poignant piece by Morgan Stanley.

The biggest critic on the conference call that just occurred was that analyst, and that

analyst is basically saying, okay, my worry about them being overtaken by Microsoft someday,

take it off the table, they're spending a lot of money.

That's what I want to see. Now, they did not say spending a lot of money on Nvidia because the problem is Amazon wants price performance. Invita is too expensive. They're making their own. The training, by the way, which we know that Marvell is handed. I mean, as far as we're going to report, but I come back and see all I care about is that there's a reacceleration of growth.

It's not unlike what happened when there was a decline in Amazon web services, and it fell almost to 9 percent, and then it went re-accelerated, and that caused Amazon to go down. Well, yeah, the constraint has always been on the supply side, right? Too much demand. The backlog is growing, you know, much faster than revenues.

But Morgan Stanley, they write that, you know, after underspending Microsoft Azure in 23 and 24

by about $5 to $6 billion a quarter.

So really big amounts, it's finally playing catch-up.

And you can see that then re-accelerate, kind of like what we saw from Azure last quarter.

Right.

And that's great, by the way, because remember, you really, your demand is coming from

Oracle, from meta, from Google, from Microsoft, which is, of course, is opening on it, and

...