 Welcome to theCUBE, Lisa Martin and Dave Vellante here. Day two of theCUBE's wall-to-wall coverage of Dell Technologies World coming to you live from the Mandalay Bay in Las Vegas. Dave, we had great conversations in our cube after dark last night. Great keynote yesterday by Michael, Dell, and Chuck Whitten who are both going to be on today. Great keynote this morning by Jeff Clark, still going on, who's going to be on tomorrow. You got to hear the keynote this morning. What's some of the news that came out today that really caught your attention? So, Jeff Clark's so awesome. The guy comes out, I'm going to joke with him. I'm going to ask him in the cube whether or not he owns a tie and I'm sure he's going to ask me if I own a t-shirt. And so, he comes out and he asks DTW GPT how he should open up, he was just typing and it says, you know, greet everybody, Jeff. Say hi to the audience, so that was kind of funny. And then he got into, Jeff is, the guy's amazing. He gets up there with no notes and he nails it every time, so impressive. So what he did is he, the guy loves to geek out. He loves to talk product. He's got all the products in his head and he goes so fast it's like impossible to even keep up with him. But he started with what I thought was a very powerful intro. He talked about last year, you know, when we got together, we had supply constraints and now we have oversupply. He talked about all the activity around remote work and now we're talking hybrid work. He talked about zero interest rates and now we've got, you know, rising interest rates, et cetera, et cetera, et cetera. And he's like five other things that I couldn't keep up with and write notes on. And then he went into a litany of 130 products, products launched this year, 2,000 new storage features, 16G servers, telecom infrastructure blocks, all the stuff they're doing in ESG and that's like 10% of what he said. They've got 2,000 patents I think they filed for this year. They've now got 28,000 patents, very few companies ahead of them. I think he said IBM, I think they're ahead of Apple, you know, roughly comparable to those guys. He talked about their great supply chain and then he went into what last year was called Project Alpine. We talked about that on theCUBE a lot and we talked about yesterday last night at theCUBE after dark, which essentially leases a super cloud, right? It's everything we've been talking about. A layer that hides the complexity underneath the clouds and on-prem creates a common, what do you call the common storage layer, which I love because that is essentially a super cloud. And then he talked about Navigator, which is their control plane across clouds, and then he went heavy into Gen AI, but let me just stop there, take a breath. I mean, it was very compelling, very fast, there's still going on and that's what Jeff does. It is, and I think he would be wise to ask you if you own a T-shirt, I've only seen you in a suit and tie. We're slaves to fashion, I guess. You know, on theCUBE, it's what we do. But yesterday's news was great. We got to hear from Michael Dell and Chuck Whitton who are both coming on today. We're going to be talking a lot about multi-cloud buy. They talked a lot last year about when they were talking about Apex, multi-cloud by default, becoming multi-cloud by design. We talked to some customers yesterday about how are they actually achieving that from a pathway perspective. We also had heard some really good conversations and I'm curious what Jeff talked about today with Generative AI in terms of all the positive opportunities that are coming out from it. You know, in the news media, there's a lot of negativity around it in fear. But what we heard yesterday was a tremendous potential, obviously with responsibility with ethics. But did Jeff kind of touch on some of that as well today? He definitely got deep into AI. Jensen from NVIDIA, they did a prerecord with him. He talked about how we're entering a new age. It's going to be bigger than anything we've ever seen before. He said the app itself is miraculous. He's talked about an API that can connect to anything and converse in human language. He talked about harnessing the data. He said data centers are going to be renamed AI factories, which I thought was pretty interesting. And then they announced Project Helix, which is a joint collaboration between Dell and NVIDIA. And then they gave a demo. Somebody from NVIDIA came out on stage and they talked a lot about, they did a little test in recommending a golf club. But it's interesting. NVIDIA's in all the headlines today. We see them everywhere. There's a supply shortage of NVIDIA GPUs. But it really interesting headline today in the Wall Street Journal. And it's all over the news now. Silicon Angles got it as well. Apple strikes a multi-billion dollar supply deal with Broadcom. It's interesting. So we're in the brocade booth here at Dell Tech World, the Broadcom company. Broadcom, they set up quiet and just execute this company. So about a month or month and a half ago, I remember seeing, I think it was on Mac rumors that Apple was going to drop Broadcom and then the stock took a hit. I've heard some similar things about AWS. But what happened is they announced today this multi-billion dollar deal. They're going to be building these semiconductor components in Colorado, so it's in U.S. It aligns with the U.S. government and Apple stated goals of doing more onshore manufacturing and Apple's investing hundreds of billions of dollars into the U.S. economy for driving chip making. And it's around cellular modem chips, which is something that these guys have sort of thought about bringing in house. And so now they're going to buy that, you know, externally from Merchant Silicon. It's 5G radio frequency components and they're going to be built in the U.S., including Fort Collins, Colorado. So that's big news. Broadcom stock was up earlier today, a little over 2% in a down day. And so I think when people really start to understand the impact here, because think about Apple. Apple very much makes it, loves to design its own chips. It basically replaced Intel for its core processors with arm-based processors. And that's a big trend. We've seen that from Tesla. We see that from Apple. And we certainly see that from AWS. And then Google and Microsoft have also followed suit. We saw Alibaba recently announced they're building their own silicon as well. So that's a clear trend. But so the fact that Broadcom can continue to keep that relationship, and it was announced with such big numbers. I mean, UBS analysts said they estimate the new deal run through 2026 and likely be valued at more than $15 billion. So it's quashist speculation that Apple's going to phase out Broadcom starting in two years. And even if the iPhone maker continues with its effort to bring more key technologies in house, this is going to sort of be a big win for Broadcom. So that was pretty cool. And then he also announced Native Edge, which is Project Frontier. Now it's now a product. So we've seen now two projects, Project Alpine and Project Frontier, now become products. And this is really important, Lisa. The reason I want to bring this up is because I've noted many, many years, IBM as an example, always had difficulty taking its R&D in turning it into products. And now we've seen that two very strong examples in one year, this is what we're going to do. And in now doing it, we're going to dig in a little bit and say, okay, is it really a product? When is it available? How do I buy it, et cetera, et cetera, et cetera? Is it going to be part of APEX? So those are some of the details that are like, well, it's coming, we'll see. We'll see exactly where they are. But nonetheless, they stuck their neck out and now they're demonstrating progress and now we want to see customer adoption. That's what comes out. Absolutely, and want to see customers really kind of providing feedback on, are they on board with Dell's strategy? They're a tremendous momentum. We talked yesterday with Jonathan Sackler and a customer, Tabula, and we're talking about the big ears, how Dell is really focused very strategically on listening to its customers. But it'd be great to hear from customers on our show and at this event, how they're buying into the strategy that Dell is really all in on. You know what's interesting too, is you walk around here and look at the ecosystem. It's evolving. I see a lot of liquid cooling companies. Yes, I've seen that too. Yeah, why? Because generative AI is hot. It requires a lot of processing power. Literally. So we talked to one customer yesterday. He said they have a half a million cores in their data center and they're doing that on-prem. And Jensen talked about this. You know, it was interesting. So Satya yesterday talked about the laptop as a sort of target for generative AI. Jensen today said, oh yeah, a lot of these workloads have to be done on-prem. So look, they're in Dell's house so they're saying nice things about it. But it's true. It's true. The laptop is ubiquitous. You know, of course it's always the mobile phone. And these are going to be driving lots of AI inferencing at the edge. As well, Jensen's right. A lot of the heavy AI work is not going to necessarily be done back at the data center where all the modeling may be done and or in the cloud. It's going to be done at the edge. So he mentioned that pretty extensively. And I think we've seen this, Lisa. We're seeing, you know, I don't think repatriation is a trend, but I definitely think we're seeing a rebalancing. And I want to explore this a little bit today because Andy Jassy, we have great respect for Andy Jassy. Been in the Cube many, many times. Friend of the Cube, we've documented the ascendancy of AWS been amazing. But he and others say that 90% of the workloads, and here Wall Street analysts talk about all this time all the time are in on-prem. I don't believe it. Now, maybe if you include telecom, that kind of changes the equation. But if we just think about, you know, just mainstream IT, I think the numbers more like 45 to 50% are in the cloud. You know, I think it's getting close to 50-50 on-prem in the cloud. The point being, we're starting to reach some kind of equilibrium where, you know, the hot water and the cold water are mixing together and there's a good reason now potentially to stay on-prem with things like Apex and, you know, HPE's got GreenLake and others. But if they can make it cost effective and have that true cloud operating model and do what Dell's doing with the super cloud, the storage super cloud, the Apex super cloud, that is going to entice people to say, hey, I get the cloud operating model. I get as good, maybe better economics. And I can manage my entire state in a single control plane. That might entice them to stay on-prem with some of their mission-critical applications. Some of the hardest that the cloud has had, hardest time they've had moving them, the cloud players into the cloud. We'll see. You know, this is a moving target, right? And, you know, it's going to be interesting to see when Apex has large language models as a service. When will they have a bedrock-like, Titan-like language, large language model service, Titan being AWS's own, but AWS works with many AI LLM players like a hugging face and their entire ecosystem where they'll offer those. So Dell's undoubtedly going to make similar moves, but they're not there yet. So the point being the cloud guys are still ahead in many respects. They're not ahead in having like, for instance, a better storage stack. Dell's got better storage than you find in AWS. Generally, although AWS says, you know, S3 is super simple and they're doing, you know, good work in new areas, but Dell's been at this Dell EMC for decades. So they have a hardened stack. They've got a very mature stack. So things like that are an advantage for some of the legacy players like Dell, and I don't mean legacy as a pejorative. At the same time, when it comes to AI, the cloud folks have always led. So it's going to be interesting to see how this rebalancing plays out in terms of where the spending goes. And that's ultimately how we measure this stuff. And yesterday, Satya Nadella was on stage in a prerecord with Michael Dell talking about the long history partnership that Microsoft and Dell have had. You mentioned some of the comments that Satya brought up regarding AI and laptops. We saw Nvidia on stage today. Yesterday, Red Hat VM were announced. Their ecosystem continues to grow and strengthen numbers. So I think that's one of the things that we were hearing just in the last day and a half that we've been here on the show floor. Yeah, well, I think the other thing about the ecosystem, so I talked about the liquid cooling companies. You're also seeing, and you were with us at Barcelona at MWC23, Mobile World Congress, we're starting to see telco pop up, right? I saw Rakuten and some other telco and edge, not the typical traditional mainstream IT ecosystem. So this ecosystem's growing. There's no question about it. And the reason is Dell has an awesome distribution channel. People want to partner with Dell because it means money. Dell knows how to sell, Dell rhymes with sell. And so that direct model has carried into the enterprise, but Dell understands the importance of channel. And so they've tweaked their channel model and they've always sort of ebbed and flowed between channel friendly and the channel gets angry at them. But I think they listen to the channel, they listen to their customers and they realize, wow, this is a really efficient way to go to market. Right, the listening is clear. And I think today is partner summit or partner day. So we'll probably be hearing from some partners along the way. And then we've got Nvidia coming on today, talking about the Project Helix, what they announced. Michael Dell is going to be on in just a few minutes with you. What are you most excited to talk with Michael about since last Dell- Michael was on TV this morning on CNBC. And of course they're trying to get them, they're trying to get them and they're going to cost a lot of jobs and AI is going to ruin the world and he's an optimist. And so that's something that I want to explore, not so much from the negative, but I want to go back and tap his experience and his wisdom on the waves from the microprocessor based revolution to the internet, to the cloud mobile data social. And now how AI is going to compare. And I got a number of questions for him. So I'm really excited to have him on. And Chuck Witton is going to be on right after him. So we'll be unpacking a lot of what Chuck said yesterday. Now we've got a great lineup for you today. As we mentioned, up next, Michael Dell going to be sitting down chairman and CEO of Dell Technologies with Dave Vellante. Chuck Witton's on. We're going to be talking with great folks today, customers, partners in the ecosystem. You won't want to miss our coverage. All day today we're live. For Dave Vellante, I'm Lisa Martin. Dave joins Michael Dell in just a minute.