Jim Schneider

Can you maybe kind of frame for us the magnitude of that and the timing for it

Can you maybe talk about that in the context of your pipeline and your visibility in terms of bookings pipeline

there has been a little bit of gross margin pressure in the business last couple of quarters

are you seeing any kind of major changes in terms of the size and scope of the individual projects? And what are clients saying about sort of their pivot

what's the sort of range of outcomes for discretionary increases in the 2025 budget outlook? And how big a factor is rates specifically as a macro impact

whether you expect to continue to see above seasonal performance in the Industrial segment in particular? And can you maybe also discuss are you seeing any kind of signs of OEM customer restocking

I believe last quarter you referenced some select inactivity. Did you actually in fact see that occur in the quarter? And if so, from what regions?

can you share where they're seeing the greatest upside to the longer-term forecast across those same areas

whether you see more of a return to spending in greater concentration to DRAM

you would expect gross margins to potentially step up in the back half of calendar '26 as you get more revenue absorption

could you rank order the relative growth rates you expect for both foundry/logic and DRAM?

can you maybe guess which one might grow stronger than the other and which one might start to recover first

do you see the decrease in visibility there being extended well into 2026? Or do you think that is more of a short-term thing

can you maybe kind of give us your latest thoughts about the relative attractiveness of M&A prospects across Europe, U.S. and emerging markets

9% new site seems like a lot. I'm just kind of curious where that's coming from

how you would frame the opportunity in terms of rough order of magnitude? Directionally, how that when you do announce it should flow through the model

DE1 $10 million of property revenue this year, is that a good run rate to use for next year? Or could we expect a bigger kind of run rate contribution

Are we at a point where you can call a bottom in LatAm? And to what extent could you expect some significant acceleration hitting in 2026

on the margin, can you maybe talk about any kind of changes that you're seeing as we head through the end of the year in terms of what is being prioritized by the carriers in terms of new activity

directionally, as you head into the outyears, is the target to kind of get from the 7% constant currency AFFO growth you're doing this year to something closer to double-digit in the outyears

are you seeing any of your carrier customers devoting new capacity specifically for that purpose

Is that the right number on a multiyear basis, do you believe? Do you think there's a potential for acceleration

I noticed in your disclosures that you saw a material step-up in related party revenue

As we look into next year, is it fair to assume that those are mostly targeting inference applications or not?

I'm just wondering if the Q1 is a good jumping-off point for the growth rate you expect for the full year something maybe a little bit less than that?

how you view the universe of additional prospects beyond the seven you know, customers and prospects you've already identified

how would do those inform your role at Crown Castle And you've been very clear about the strategic goals of the company, but on the margin, are there any areas where you might look to sort of sligh...

Can you maybe just comment on the impact of the T-Mobile's acquisition of U.S. Cellular on the business

can you maybe share with us the Board's thinking about sort of what they may be looking for and as CEO this time around with a more streamlined company

talk about your intention to sort of diversify or grow more aggressively against opportunities in rural areas where maybe under next today

talk a little bit about the pricing for those tools, how the agentic solutions are being priced specifically

if it's possible to quantify any of the benefits that your customers are getting from those workflows today, whether that be time to market, enhanced productivity per seat

I was wondering if you can maybe frame for us some of the tailwinds you expect you might see over the next couple of years as a result of inclusion of AI features into your products on the core EDA...

Can you maybe cite some of the drivers of the strength in the quarter, be it new customers or Cerebrus pricing benefits or anything else that was onetime

whether you're thinking any differently about your multiyear CapEx outlook, either in terms of the overall envelope or in terms of the composition?

I was wondering if you maybe give us a bit of an update on what you see in terms of the broader consumer behavior in your base.

I was wondering if you could maybe kind of unpack the comments you made earlier, Ravi, around the token usage that you're seeing in terms of token metering

Can you maybe talk about when do you see line of sight to sort of gross margin inflecting on a year-over-year basis

Just would love to understand your level of confidence in the relative growth for your Health Sciences segment this year relative to your full-year guidance overall?

I wonder if you could speak to the new business pipeline you're seeing for smaller deals at this stage and whether you're seeing any kind of significant uptick there or not

relative to your outlook for the year, how much backlog coverage do you have in the current revenue outlook for the year?

Can you maybe talk about some of the technical requirements underpinning those?

do you have availability in your existing installations for 2026 such that you could slot in more of that business

Is the hyperscale backlog also at record? Or has there been any kind of diminution there?

what conversations have you had with some of these customers since that announcement about their interest in sort of maintaining or expanding their relationship

what would be the impact, do you think, on margins? Or would they be coming in at or below sort of your corporate average?

Can you give us a kind of a refresher on your latest thoughts on the relative uses of cash between buybacks at this point and incremental M&A

what are you thinking, what is the board thinking in terms of the desire to potentially do more inorganic actions versus potentially be significantly more aggressive with buyback

Can you maybe comment on whether that's directionally correct? And then more importantly, can you talk about how you believe that maybe your AI native revenue is different

how that focus on cost is being manifest across the company and how that might materialize in terms of SG&A

Can you maybe give us or level set any kind of quantification in terms of the size of your average AI project today

your commentary on client conversations, and outlook appears significantly better at least from my perception relative to some of your peers

give us a sense about your level of confidence of power availability and scheduling for those additional projects

Anything that makes you feel differently about the pace with which you're going to add that capacity via the JV?

I was wondering if you could maybe comment on the AI bookings, which is a metric you previously given

maybe outline the path or trajectory you're expecting for the consulting business throughout the year

would you consider undertaking a somewhat larger, transformative transaction not quite as big as you did with Red Hat

do you think there is potential for improving both organic and overall software growth heading into 2026

are you seeing any kind of significant softening in, say, the consumption portion of the portfolio, either Red Hat or otherwise

which are the products of the ones you mentioned that you think are really going to be sort of standouts

where you would expect the process control intensity to really step up

your expectation for the advanced packaging market and your revenue growth there in calendar '26

Have you heard any kind of incremental interest from your customers in China or from the government in terms of promoting more onshore solutions there?

do you expect the growth in foundry logic to actually expand substantially into the back half of the year such that growth those growth rates would be closer to matched or not?

Is that something that's more on the inquiry level at this point? Or are you actually seeing that either in your order book or in the form of forecast

confirming mid-teens is the right level for service growth in 2025 and maybe give us a sense about whether that could accelerate next year?

which of the product areas do you expect the most kind of incremental leverage? Is it kind of split across all of them

when do you expect that your customers are gonna sort of pivot from NAND upgrades to more greenfield NAND capacity additions.

I was wondering if you could maybe just give a little bit of color on the NAND market and what you're seeing.

do you have confidence that Lam's business can actually grow in 2026 even if CapEx is not up for the broader industry?

is it your understanding that your existing U.S. manufacturing investments qualify you for that exemption

comment on any end markets that you think are materially lagging in terms of end demand

whether your bias is more towards tuck-in acquisitions that will allow you to pursue the AI strategy even faster or buybacks

whether the Vera CPUs are going to be the biggest source of upside above and beyond that $1 trillion

what are some of the key application areas that you believe are most likely to drive that inflection

In the past, you've talked about roughly 40% of your shipments tied to AI inference

how you view the Rubin product transition going forward

just wanted to clarify that you are still on track to sort of deliver to your Analyst Day targets from 2024 out into 2027

Can you maybe talk about whether there's any specific areas that are growing -- sort of outgrowing the overall envelope there?

is there any reason to believe that if you exclude the divestitures that automotive and industrial IoT would not be operating sort of at the upper end

do you think that you're going to get into a place where you could, or you see your way clear to sort of increasing the buyback component

how are you thinking about the calculus for incremental buybacks versus other things to do with the capital?

Are we starting to see that already in the industrial sector but not yet in automotive?

give us a little more visibility on what's happening with your Other segment for a minute.

Can you maybe talk a little bit about when you speak to OEMs, what they would need to see to get more confidence to restock?

can you maybe talk about the reasons for that? Is it purely tariff-based uncertainty

I'm assuming that given your commentary, you're less sure about Industrial and Other being up.

how you expect the Internet connect growth to play out over the course of 2026, whether that's sort of higher or lower than the overall corporate average

can you specifically talk about your China sales in the quarter and what you're expecting for China over the course of this year

I was wondering if you could maybe comment on the sort of high-performance compute and AI segment of your business

I'm just kind of curious how you think about the seasonality specifically in Q1

do you think that there's a clear path with domestic getting back to 4% to 5%, international, hopefully better than that? You can get the entire business back to sort of that 5% range

relative to Verizon, I think on their prior conference calls, they've talked about sort of finishing up their C-band deployments and adding more small cells

heading into next year, clearly, interest expense will be a headwind to AFFO. Maybe talk a little bit about any cost saves you contemplate

how is the organic growth outlook you're seeing right now and over the next couple of years, kind of comparing to what you underwrote

is that broadened to two or three of your customers at this point from what you can tell?

was wondering if you could comment on any updates in terms of carriers' plans in the U.S. and their willingness to devote any capacity to fixed wireless access

how should we think about your ability to sort of grow domestic leasing in the outyears relative to this year's guidance

I believe in your opening script, you mentioned that there you saw demand specifically for fixed wireless capacity additions

what is the state of your discussions with Kioxia in terms of potentially increasing bit supply?

Can you talk about whether any of the five largest U.S. hyperscalers are included in those contracts thus far?

give us a snapshot of the factory network across Yokaiichi and Kitakami and kind of where things stand now?

Exiting this calendar year, for example, how large do you expect your enterprise SSD exposure to be as a percentage of the total revenue?

give us your view on over the next couple of years, the supply situation you expect to deliver

what percentage of market share you might hope to attain and what -- how big of a part of the business that might be?

Can you maybe give us an update on sort of the level of progress you've had in each of those three dimensions

Can you maybe give us a little bit more color on sort of the rationale for why an investment made sense

would you characterize your price per exabyte growth year-over-year in those -- for those longer-dated orders

maybe can you give us any kind of directional guidance about where you might expect exabyte shipments to end up on a calendar '26 versus calendar '25 basis

Is there anything that would kind of prevent you from achieving that kind of mid-teens cost down on a blended basis

could talk a little bit about the HAMR contribution you saw in terms of revenue in this quarter and whether you expect -- how much you would expect that to increase

Can you maybe talk about any sort of idiosyncratic product areas that you took as a drive sort of outsized market growth

would what impact would seasonally more muted business cycle or product launch cycle have on the company operational

Can you sort of hold this December OpEx run rate into say, the first half of the next calendar year

how you would encourage us to think about the long-term structural growth rate of that business? Is this something that could easily be mid-teens long term?

do you see any evidence of consumers less willing trade up or even trading down or consumer credit quality issues

is the buyback guidance you have provided independent of any inorganic activities you might consider, or is it contingent on it

I'm wondering, if you see any opportunities on the horizon here that could jump start sort of top line opportunities, whether that's from a fiber connectivity for AI

some of your competitors in the cable space are getting a little bit more aggressive on pricing. It sounds like you don't see the need to follow that

would you tend to believe that you could actually underpunch the OpEx intensity?

can you maybe level set us for where you expect your CPO revenue to land in terms of a range for this year, 2026?

maybe give us any sense about how we should be thinking about the Q2 relative to Q1 rough numbers?

is that what you think could be a mid-cycle model in a couple of 3 years' time

Do you have any sense about what you might expect sort of directionally in terms of improvement next year?

for every dollar of revenue increase or every 10% of revenue increase, how much OpEx increase would you expect to flow through?

is there any impact on the gross margin line, either positive or negative in terms of the mix

do you think that's at earliest likely to happen in a meaningful way in sort of the middle of 2026

what environment you're seeing right now in terms of gross adds thus far in Q2

do you think you can sort of maintain this pace of high-speed Internet fixed wireless additions above 400,000

how are you thinking about the overall broadband environment we're set into this year from a net add perspective

how are you thinking about the potential pace of buybacks you're going to execute in 2025

Do you think inventories are at a pretty good place either from a days or dollars basis? Or would you expect to want to take them down a little bit further at this point

Can you maybe talk about sort of the prospects of a return to growth or a turnaround in the personal electronics and communications end markets

can you maybe give us a sense about whether you expect that your CapEx for next year will be toward the lower end

I'm curious whether you saw a reversion there in terms of orders or whether orders were ending up ended up better than you expected

can you maybe kind of speak to the capital return portion of this? Obviously, your free cash flow is better than what might you do differently

Could you maybe comment on some of the end markets, whether it be personal electronics or enterprise systems or otherwise, that you think may have gotten a little bit ahead

I think you talked about a softer move environment

you could talk to the broad sort of behavior you're seeing from consumers from March into April

can you maybe give us a sense of the $1 billion pipeline of sales? When do you think we're going to see