...A. In our fiscal Q2 2025, total revenue was a record $15 billion, up 20% year-on-year. B. This 20% year-on-year growth was all organic as Q2 last year was the first full quarter with VMware. C. Now revenue was driven by continued strength in AI semiconductor and the momentum we have achieved in VMware. D. Now reflecting excellent operating leverage, Q2 consolidated adjusted EBITDA was $10 billion, up 35% year-on-year. E. Now let me provide more color Q2 semiconductor revenue was $8.4 billion, with growth accelerating to 17% year-on-year up from 11% in Q1. F. And of course, driving this growth was AI semiconductor revenue of over $4.4 billion which is up 46% year-on-year and continues the trajectory of nine consecutive quarters of strong growth. G. Within this, custom AI accelerators grew double digits year-on-year, while AI networking grew over 170% year-on-year. H. AI networking, which is based on Ethernet was robust and represented 40% of our AI revenue. I. This represents the next generation...
