Yes, I think the Inflation Reduction Act (IRA) will likely undergo revisions. The biggest losers here will probably be companies like Intel. I think Intel has been struggling, and this is just going to add fuel to that fire. The IRA was originally going to be a huge opportunity for Intel, but now they’re on the wrong side of that trend. From a chip perspective, there’s a much bigger focus on AI build-out, especially in the U.S. With tariffs on China, there could be carve-outs, which is why I don’t think companies like Nvidia will be negatively impacted. The same goes for Tesla and Apple. That’s also why Musk’s influence in the White House is so important.
Let me get your feedback, because I know Ed wants to jump in. But I'm curious: do you think Trump won’t live up to a lot of the things he promised during the campaign?