hartmut: yeah. what we are seeing currently, probably still firm may a short number of months, the semiconductor space, very strong. we need to remember, this is still a cyclical industry, even now. we expect -- and we are already have started the upturn. we are in an upturn on the semiconductor side. what we think in terms of where we could go next, maybe toward the middle of the year, certainly in the second half of the year. we have already begun to switch the exposure. we still have a lot of semiconductor exposure. piece by piece, shifting it a little bit more into more cyclical. ai exposure, and especially into software, i think that is the prudent info for now. paul: do you see any risks to the ai story, particularly around supply chains? hartmut: i would say the only risk -- what we are currently witnessing is the biggest -- the big investment, the demand for the semiconductors comes from what people call the hyper scaler. the important things, this broadens other industries that we just hear