Yeah, thanks for that - the capital signature confirms the model: fiscal-2025 spending was $12.7 billion, about 3.1 percent of revenue, an order of magnitude below the cloud cohort. We frame Apple Intelligence as woven into the platforms, on-device with our silicon and a modest, undisclosed Private Cloud Compute tier. The CFO said AI investment is incremental on our normal roadmap; the CEO pointed to accelerating research spending, not infrastructure. A more personalized assistant is deferred to this year. Thank you.
← stream@AAPL solid