The search for yield – especially when markets are in turmoil – has investors digging into emerging market debt for new opportunities and to diversify their portfolios. Investors poured $152 billion into emerging market debt exchange-traded products in 2025, according to BlackRock and Markit. That compares to the $103 billion that flowed into emerging market equity exchange-traded products. "We're shifting to high-quality emerging market bonds, countries that don't have a lot of inflation risk right now," said Tom Becker, a portfolio manager on the Global Tactical Asset Allocation team at BlackRock. "U.S. fixed income is only half of the global fixed income market, so there are a lot of other opportunities when you open up that international lens and particularly if you hedge your FX exposure," he added. In a February report, Blackrock pointed to emerging market hard currency debt as a place where it is overweight. Higher yields in emerging market debt are helping lift fixed income returns. The Morningstar Emerging Markets Composite Bond index has a total return of nearly 9% in the past 12 months, compared to roughly 5.8% for the Morningstar U.S. Core Bond index . Still, investors should proceed carefully: Higher risks tend to accompany those attractive returns. Driving factors behind the gains Portfolio managers and analysts alike point to several factors driving interest in emerging market debt. First, there's the weaker U.S. dollar. The U.S. dollar index has fallen about 7% in the past year. Many emerging market sovereign and corporate bonds are issued in U.S. dollars, so a weaker dollar can actually lower the cost of servicing that debt . Second, growth outside the U.S. is starting to catch up to the world's biggest economy. "Now what we have is a much more balanced picture of growth globally," said AllianceBernstein's head of emerging markets debt Christian DiClementi. "The U.S. will grow this year, but the growth differential between the U.S. and other countri...

indie Semiconductor ( INDI ) on Tuesday said it plans to offer $150 million aggregate principal amount of its Convertible Senior Notes due 2031 through a private offering. indie expects to grant the initial purchasers in the offering an option to purchase, during a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $22.5 million aggregate principal amount of notes. Interest on the notes will be payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15, 2026. The notes will mature on March 15, 2031, unless earlier repurchased, redeemed or converted. indie intends to use a portion of the net proceeds from the offering to make repurchases of up to approximately $100 million of its 4.50% Convertible Senior Notes due 2027. indie intends to use the remainder of the net proceeds from the offering for working capital and general corporate purposes. INDI -14.87% after hours to $2.69. Source: Press Release More on indie Semiconductor indie Semiconductor: Still Waiting On Inflection Indie Semiconductor outlines 20% sequential core revenue growth trajectory as radar and vision programs accelerate indie Semiconductor Non-GAAP EPS of -$0.07 in-line, revenue of $58M beats by $0.89M

SDI Productions/E+ via Getty Images Janus Living Is Growing As It Proves Its Integrated Approach Janus Living, Inc. ( JAN ) has filed to raise acquisition funding in an IPO, according to a recently filed S-11 registration statement . The firm owns and leases a portfolio of senior housing facilities in ten U.S. states. It has produced solid topline revenue and NOI growth as it seeks to demonstrate that its ‘life plan communities’ integrated approach is superior to traditional senior housing rental. The IPO will probably see substantial investor demand, assuming it is priced reasonably. What Does Janus Living Do? The company acquires and leases various types of senior living properties in 16 markets across the United States. JAN’s properties cover 34 communities with over 10,400 units, with around 69% of units being located in Florida and Texas. Key portfolio metrics are shown in the graphic here: SEC The firm’s product types are the following: Independent living - 69%. Assisted living - 15%. Memory care - 5%. Skilled nursing facility - 11%. Janus has longstanding relationships with facility operators such as LCS and Sunrise Senior Living Management. The company's ‘life plan communities are designed to appeal to “planners” and couples who prioritize lifestyle, social engagement, emotional well-being, and long-term healthcare security.’ Janus is led by President and CEO Mr. Scott M. Brinker, who has been the president and CEO of Healthpeak ( DOC ) and was previously EVP and CIO at Welltower ( WELL ), a healthcare REIT. The firm will be managed by Healthpeak Investment Management via contract agreement. What Is Janus' Market? The senior living market in the US was approximately $944 billion in 2025 and is forecasted to reach $1.33 trillion by 2033, according to a market research report by Grand View Research. If accomplished, this growth would represent a CAGR of 4.5% from 2026 to 2033. The primary driver for this growth is the aging population in the U.S. and a desire ...

Broadcom Q1 Earnings: Will Growing AI Revenue Arrest the Selloff? tastylive

格隆汇3月4日｜当地时间3月3日，美国国务卿鲁比奥称，一架伊朗无人机击中美国驻阿联酋迪拜领事馆外的停车场，引发小规模火情。鲁比奥表示，领事馆所有人员已完成清点，暂无人员伤亡。他称，美方已提前开始从部分外交设施撤离人员。

CrowdStrike Holdings Inc. projected quarterly sales that were roughly in line with analysts’ estimates, signaling steady demand in an era when artificial intelligence has heightened concerns over cybersecurity threats. Revenue will be $1.36 billion to $1.364 billion in the period ending in April, the Austin-based company said Tuesday in a statement. Analysts, on average, estimated $1.36 billion, according to data compiled by Bloomberg. Cybercrime groups and nation-state groups increasingly are using AI to automate cyberattacks against corporations, which rely on CrowdStrike and its competitors to secure data. CrowdStrike, which sells security technology through its Falcon platform, competes with rivals including Palo Alto Networks Inc. and SentinelOne Inc. in a crowded market where vendors are pushing customers to consolidate security spending onto fewer platforms. Shares were down about 3% in late trading on Tuesday. They’ve fallen nearly 17% this year. Cyber stocks more broadly tumbled last month after Anthropic PBC announced a new feature in its Claude AI model that will scan code for vulnerabilities and suggest fixes. “The AI revolution is creating a massive growth opportunity for CrowdStrike,” Chief Executive Officer George Kurtz said in the company’s statement. In the fiscal fourth quarter, CrowdStrike reported revenue increased 23% to $1.3 billion, in line with expectations. Adjusted profit, excluding some items, was $1.12 a share. Analysts, on average, estimated adjusted earnings of $1.10 a share, according to data compiled by Bloomberg. Founded in 2011, CrowdStrike has become one of the largest cybersecurity providers as organizations respond to increasingly complex cyberattacks and cloud migration. It suffered a major setback in July 2024 when a company software update crashed customers operating Windows’ operating systems, leading to widespread disruptions across the world.

Box press release ( BOX ): Q4 Non-GAAP EPS of $0.49 beats by $0.15 . Revenue of $305.88M (+9.4% Y/Y) in-line. Q1 FY27 Guidance Revenue is expected to be approximately $304 million, up 10% year-over-year, or 9% on a constant currency basis. This includes an expected positive tailwind of approximately 90 basis points due to FX. GAAP operating margin is expected to be approximately 8.5% and non-GAAP operating margin is expected to be approximately 27.5%. This includes an expected headwind of approximately 20 basis points due to FX. GAAP net income per share attributable to common stockholders is expected to be approximately $0.09. Non-GAAP diluted net income per share attributable to common stockholders is expected to be approximately $0.36. Weighted-average diluted shares outstanding are expected to be approximately 141 million. Full Year FY27 Guidance Revenue is expected to be approximately $1.275 billion, up 8% year-over-year, or 9% on a constant currency basis. This includes an expected headwind of approximately 60 basis points due to FX. GAAP operating margin is expected to be approximately 9.5% and non-GAAP operating margin is expected to be approximately 28%. This includes an expected headwind of approximately 50 basis points due to FX. GAAP net income per share attributable to common stockholders is expected to be approximately $0.45. GAAP EPS guidance includes an expected headwind of $0.03 due to FX. Non-GAAP diluted net income per share attributable to common stockholders is expected to be approximately $1.55. Non-GAAP EPS guidance includes an expected headwind of $0.03 due to FX. Weighted-average diluted shares outstanding are expected to be approximately 141 million. Shares +4.52% AH. More on Box Box: Revenue Growth Is Accelerating As Expected Box: Cheap FCF Multiples Amid AI-Driven Backlog Growth Box Q3: Limited Alpha Ahead Box Q4 2026 Earnings Preview Seeking Alpha’s Quant Rating on Box

Source: Bloomberg, 40:51

Why AMD (AMD) Stock Is Trading Lower Today TradingView

Key Points Knoll Capital Management bought 245,000 shares of SSR Mining. The quarter-end value of the SSR Mining position increased by $5.37 million due to the new purchase. The new SSR Mining position represents 2.46% of Knoll Capital Management's 13F reportable assets under management (AUM). 10 stocks we like better than SSR Mining › On February 17, 2026, Knoll Capital Management disclosed a new position in SSR Mining (NASDAQ:SSRM), acquiring 245,000 shares worth $5.37 million. What happened According to a February 17, 2026, SEC filing, Knoll Capital Management initiated a new position in SSR Mining (NASDAQ:SSRM), acquiring 245,000 shares. The quarter-end value of the position was $5.37 million, reflecting the new purchase. What else to know The SSR Mining stake represents 2.46% of Knoll Capital’s 13F reportable AUM as of December 31, 2025. Top holdings following the filing: NASDAQ: ALDX: $28.36 million (13.2% of AUM) NYSE: BHVN: $26.29 million (12.3% of AUM) NYSE: NUVB: $13.43 million (6.3% of AUM) NASDAQ: AVDL: $12.93 million (6.0% of AUM) NYSEMKT: GLD: $12.68 million (5.9% of AUM) As of February 17, 2026, SSR Mining shares were priced at $25.91, up 180% over the past year and vastly outperforming the S&P 500, which is instead up 16%. Company overview Metric Value Price (as of market close February 17, 2026) $25.91 Market capitalization $5.26 billion Revenue (TTM) $1.43 billion Net income (TTM) $219.85 million Company snapshot SSR Mining produces gold, silver, copper, lead, and zinc, with core revenue from operations in Turkey, the United States, Canada, and Argentina. It operates a vertically integrated mining business model, overseeing the full value chain from resource acquisition and exploration through development, extraction, and sale of refined metals. The company was formerly known as Silver Standard Resources and changed its name to SSR Mining in August 2017. SSR Mining is a mid-cap precious metals producer with a diversified portfolio of mining assets ...

Source: Bloomberg, 5:33

GitLab press release ( GTLB ): Q4 Non-GAAP EPS of $0.30 beats by $0.07 . Revenue of $260.4M (+23.2% Y/Y) beats by $8.18M . For the first quarter and fiscal year 2027, GitLab Inc. expects (in millions, except share and per share data): Revenue $253.0 - $255.0 vs consensus of $256.69M $1,099 - $1,118 vs consensus of $1.13B Non-GAAP operating income $32.0 - $34.0 $129 - $137 Non-GAAP diluted net income per share assuming approximately 173 million and 175 million weighted average shares outstanding during Q1 FY 2027 and FY 2027, respectively. $0.20 - $0.21 vs consensus of $0.20 $0.76 - $0.80 vs consensus of $1.03 Click to enlarge Shares +1.87% AH. More on GitLab GitLab: The Valuation Lags Well Behind The Fundamentals GitLab: Punished Multiple, Compounding Business - A Setup For Asymmetric Upside (Rating Downgrade) GitLab Inc. (GTLB) Discusses the Role of Agentic AI in Transforming Software Development Workflows Transcript GitLab Q4 2026 Earnings Preview Extended enterprise software selloff hits seat-based business models hardest: Truist

Here’s what financial planners know but many retirees discover too late.

B&G Foods press release ( BGS ): Q4 Non-GAAP EPS of $0.28 misses by $0.02 . Revenue of $539.6M (-2.2% Y/Y) beats by $2.1M . Guidance for Full Year Fiscal 2026 Net sales range of $1.655 billion to $1.695 billion. Adjusted EBITDA range of $265.0 million to $275.0 million. Adjusted diluted earnings per share range of $0.55 to $0.65. More on B&G Foods Sell B&G Foods Before The Dividend Gets Slashed Small-cap stocks with highest dividend yield grade B&G Foods picks up broth and stock brands out of Del Monte's bankruptcy Seeking Alpha’s Quant Rating on B&G Foods Historical earnings data for B&G Foods

市場憂慮中東局勢推高油價，刺激通脹升溫，推遲減息的時間，加上美元上升，金價結束連續四日的升勢。現貨金價一度失守，5,000美元一盎司，跌幅逾百分之6。 紐約期金，收市報5,123.7美元一盎司，跌187.8美元，跌幅百分之3.6。

市場憂慮中東局勢推高油價，刺激通脹升溫，推遲減息的時間，加上美元上升，金價結束連續四日的升勢。現貨金價一度失守5,000美元一盎司，跌幅逾百分之6。 紐約期金，收市報5,123.7美元一盎司，跌187.8美元，跌幅百分之3.6。

Key Points iShares Core MSCI Total International Stock ETF carries a lower expense ratio and a higher dividend yield than the SPDR MSCI ACWI Climate Paris Aligned ETF. The SPDR MSCI ACWI Climate Paris Aligned ETF leans heavily into technology and ESG screens, while the iShares Core MSCI Total International Stock ETF focuses on international developed markets with more financials and industrials. iShares Core MSCI Total International Stock ETF is vastly larger and more liquid, but also showed a deeper five-year drawdown and slower long-term growth. 10 stocks we like better than iShares Trust - iShares Core Msci Total International Stock ETF › The State Street SPDR MSCI ACWI Climate Paris Aligned ETF (NASDAQ:NZAC) and iShares Core MSCI Total International Stock ETF (NASDAQ:IXUS) differ most in market coverage, sector tilt, and ESG focus, with IXUS offering a higher yield and much greater scale. Both NZAC and IXUS track broad global equities, but their approaches diverge: NZAC aims for a climate-friendly, all-country portfolio with an ESG overlay, while IXUS delivers expansive international exposure excluding U.S. stocks. This comparison looks at cost, performance, risk, holdings, and structural features to help clarify which may appeal depending on your portfolio needs. Snapshot (cost & size) Metric NZAC IXUS Issuer SPDR IShares Expense ratio 0.12% 0.07% 1-yr return (as of 2026-02-27) 18.0% 34.7% Dividend yield 1.9% 3.0% Beta 0.93 0.75 AUM $173.0 million $57.6 billion Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. IXUS charges a lower annual fee and offers a higher payout, making it more affordable and income-oriented compared to NZAC. Performance & risk comparison Metric NZAC IXUS Max drawdown (5 y) -28.31% -30.05% Growth of $1,000 over 5 years $1,455 $1,333 What's inside IXUS holds over 4,100 international stocks, spanning financial servic...

Cidmart/iStock via Getty Images XMax ( XWIN ), known previously as Nova LifeStyle when we last covered them, has concluded its SpaceX ( SPACE ) investment and seems to be in the process of raising additional funds. However, they are also making a loan whose purpose we are not clear on that will use much of these funds. In terms of the operation, they are turning over marble slabs a lot now, a more expensive product, thereby driving sales, but gross profits are down, so the unit economics are much worse than last year. While operating losses narrowed, it was mainly because of the end of R&D expenses on AI and IT that the company has claimed has been part of their business strategy. At enough scale, the lower cost structure could lead to profits, but at the moment the company is a confusing prospect, with the only brilliant aspect to it a recently made SpaceX investment through a fund, which would definitionally be closing now at a fair value and not higher. The fact that they are making a considerable loan to another company rather than investing more in working capital confuses us. At least they have some cash and receivables that we imagine should liquidate soon. If you assume the receivables liquidate, they have a couple of years of runway at current annualised operating cash burn run rates, maybe 1.5 years if you take into account all the post-dated actions, including the loan they plan to make to a Hong Kong company. If those receivables don't liquidate soon, though, as we've included them in our cash runway assumptions as basically already in cash, which is generous, we do note that the runway then shrinks to almost nothing given the loan they are planning on making post-date of the last 10-Q. Results Focusing on the operations first and the balance sheet situation. Assets (10-Q) They've generated a big receivable . This comes from the almost quadrupling of sales the company accomplished in the 3m results. Headline Results (10-Q) The reason for this is that whi...

Community West Bancshares ( CWBC ) said on Tuesday that Executive Vice President and Chief Operating Officer Blaine C. Lauhon will retire effective December 31, 2026. The company said Lauhon has served nearly a decade with Community West Bank and has been Chief Operating Officer since December 2024. Lauhon joined the bank in 2017 following its acquisition of Folsom Lake Bank and has held several senior leadership roles, including Chief Administrative Officer, Chief Banking Officer and Senior Credit Officer. CWBC -0.0% after hours to $23.3. Source: Press Release More on Community West Bancshares Seeking Alpha’s Quant Rating on Community West Bancshares Historical earnings data for Community West Bancshares Dividend scorecard for Community West Bancshares Financial information for Community West Bancshares

北京时间3月4日凌晨，美股周二收跌，但主要股指连续第二天尝试上演戏剧性的反弹，收盘时均已远离盘中最低点。在美国总统特朗普表示海军将护航油轮通过霍尔木兹海峡后，股市显著收复失地。 道指跌403.51点，跌幅为0.83%，报48501.27点；纳指跌232.17点，跌幅为1.02%，报22516.69点；标普500指数跌64.99点，跌幅为0.94%，报6816.63点。 美股周二大幅低开，早间道指一度下跌超过1277点。但在尾盘时特朗普的言论推动股指显著收窄其跌幅。 美东时间周二下午，特朗普在Truth Social的一篇帖子中表示：“无论如何，美国将确保能源自由流向世界。美国的经济和军事实力是地球上最强大的——更多行动即将到来。” 在此消息公布后，全球基准布伦特原油周二从当日高点回落。布伦特原油期货上涨3.66美元，涨幅为4.71%，收于每桶81.40美元。纽约商品交易所4月交割的西得州中质原油（WTI）期货价格上涨3.33美元，涨幅为4.67%，收于每桶74.56美元。上述两种油价在今日早些时候曾一度上涨超过9%。 今日能源价格的初步飙升推高了国债收益率，因担心这可能导致通胀再次抬头，而此时美国投资者正寄望于美联储进一步降息以刺激经济。然而，收益率随后与油价一起回吐了涨幅。 周二标普500指数的11个板块中，除金融板块外全线收跌。材料和非必需消费品板块跌幅最大，因担心油价上涨和借贷成本上升可能拖累 几只领涨周一盘中反弹的大型科技股，如英伟达，周二走低。美国存储芯片股也面临压力，预计将追随韩国存储芯片股的显著跌势。此外，据英国著名财经媒体报道， 黑石 集团的私人信贷基金在第一季度出现17亿美元的净流出，其股价下跌2%。 周二几乎没有避风港，黄金价格在周一大涨后也大幅下跌。华尔街的恐惧指标——芝加哥期权交易所波动率指数跃升至去年11月以来的最高水平。 令市场更加不安的是，特朗普警告称，冲突可能持续超过四周。 据报道，伊朗革命卫队指挥官表示，霍尔木兹海峡——全球最重要的原油运输通道——已被关闭，伊朗将摧毁所有试图通过该海峡的船只，这也加深了贸易担忧。 随着冲突进入第四天，还有其他迹象表明冲突正在加深：首先是美国驻沙特阿拉伯首都利雅得的驻地遭到无人机袭击，伊朗加大了对该国的攻击。国务院下令从巴林、伊拉克和约旦撤离人员。其次，德黑兰支持的真主党用导弹和无人机袭击了特拉维夫。...

格隆汇3月4日｜据华盛顿邮报：消息人士透露，疑似来自伊朗的无人机袭击击中了美国中央情报局在沙特的办事处。

CrowdStrike press release ( CRWD ): Q4 Non-GAAP EPS of $1.12 beats by $0.02 . Revenue of $1.31B (+23.6% Y/Y) beats by $10M . Outlook: Q1 FY27Guidance Full Year FY27Guidance Annual recurring revenue $5,501.8 - $5,503.8 million $6,465.8 - $6,516.4 million Total revenue $1,360.0 - $1,364.0 million vs consensus of $1.36B $5,867.6 - $5,927.6 million vs consensus of $5.87B Non-GAAP income from operations $308.0 - $310.4 million $1,422.2 - $1,462.2 million Non-GAAP net income attributable to CrowdStrike $275.2 - $277.1 million $1,241.0 - $1,271.1 million Non-GAAP net income per share attributable to CrowdStrike common stockholders, diluted $1.06 - $1.07 vs consensus of $1.07 $4.78 - $4.90 vs consensus of $4.84 Weighted average shares used in computing non-GAAP net income per share attributable to common stockholders, diluted 259 million 260 million Non-GAAP tax rate 21.0% 21.0% Click to enlarge Shares -1.13% AH.

STAAR Surgical press release ( STAA ): Q4 GAAP EPS of -$0.37 misses by $0.41 . Revenue of $57.8M (+18.1% Y/Y) misses by $17.25M . Adjusted EBITDA 1 breakeven or $(0.00) per share, compared to Adjusted EBITDA loss of $(20.8) million or $(0.42) per share a year ago Fiscal Year 2025 Financial Overview Net sales of $239.4 million, down 23.7% Y/Y Net sales excluding China of $161.7 million, up 6.6% Y/Y Gross margin at 76.2% vs. 76.3% Y/Y Net loss of $(80.4) million or $(1.62) per share, compared to a net loss of $(20.2) million or $(0.41) per share a year ago Adjusted EBITDA 1 loss of $(6.6) million or ($0.13) per share compared to Adjusted EBITDA income of $23.2 million or $0.47 per share a year ago Cash, cash equivalents and investments available for sale ended the year at $187.5 million More on STAAR Surgical STAAR Surgical: Alcon Raises Its Bid, But Obstacles Remain STAAR Surgical Q4 2025 Earnings Preview STAAR Surgical, Broadwood Partners enter cooperation pact Seeking Alpha’s Quant Rating on STAAR Surgical Historical earnings data for STAAR Surgical

champc Wall Street retreated Tuesday as investors braced for heightened geopolitical uncertainty and cross-asset volatility, with strategists warning that markets are becoming increasingly reactive to headlines out of the Middle East. “Expect volatility, as the situation in the Middle East is still in its early stages,” said Seeking Alpha analyst Andrew Hecht . Hecht went on to say, “Expect markets across all asset classes to become highly sensitive to the news cycle in the current environment. Carefully monitor risk-reward dynamics on all investment and trading positions.” The cautionary tone followed a broad selloff in equities. The benchmark S&P 500 ( SP500 ) declined 0.9%, while the Nasdaq Composite ( COMP:IND ) dropped 1%. The Dow Jones Industrial Average ( DJI ) also fell 0.8%. Chipmakers led the downturn after a sharp slide in South Korea’s KOSPI index rattled global semiconductor sentiment. Meanwhile, rising oil prices and climbing Treasury yields underscored growing concerns about potential supply disruptions and inflationary spillovers tied to escalating regional tensions. Market Tracking ETFs: ( DIA ), ( DDM ), ( DOG ), ( DXD ), ( SDOW ), ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( QQQ ), ( QQQM ), ( TQQQ ), ( QID ), and ( SQQQ ). More on markets Dividends in demand as Iran conflict sends markets reeling Invesco says stay calm and invested as stocks often climb after war-driven volatility When markets should expect a U.S. — Iran ceasefire; See what prediction markets say VIX surges to three-month high as Iran conflict sparks market turmoil February ETF inflows surge as the industry eyes a potential $2T year

00:00 Speaker A Ted, it's always great to have you on the show. I thought Ted, we maybe could start big picture because you know, Ted, folks are are watching these headlines, this war with Iran. And yes, Ted, you know, they'll see traditional big expensive fighter jets and and battleships, Ted. But of course, they're also hearing, Ted about, you know, relatively cheaper drones and autonomous systems. Maybe for viewers, Ted, who don't follow this as closely. Can you walk us through at just a high level, how modern warfare has evolved? 00:46 Ted Well, number one, I think, um, as an example, if you just look at Patier right now on this uh particular conflict, Patier is installed both in the Israeli Defense Force and the Department of War. And this is giving from an AI perspective as just an example, uh, the ability of uh, all of the uh war fighters to actually see around the corner and they can actually see the battle she battlefield as it represents in real time and also some predictive technology that we never had before. So that's software. On the Silicon side, we have major developments, uh, as it relates to uh satellites and Leo orbit take, um, uh Starlink for example from Elon Musk's, um, SpaceX uh entity, uh that's also changing the connectivity. um 02:08 Ted of the war fighter. And then you just look at the Silicon. Um, the Silicon that's being developed is really at the leading edge nodes and why is this important? Um, the processing power of the Silicon is unrival. Um, the US is is leading this with, um, with designs at TSM uh at the 5, three and two nanometer nodes. And this is also what's powering AI. Uh those chips are are very AIcentric. So if you bring it all together, we're we're entering into a new era of, um, procurement and uh embedded AI basically in every single uh weapon system. 03:07 Speaker A You mentioned Pateer Ted. So, you know, I saw a Baron's headline today that got my my attention. I'll read it to you. They say, Pateer's role in in the Ira...