“our use of cash outside of dividends would be, at this stage, used towards reducing our debt.”

In context

“3 months ago and 6 months ago during the last 2 earnings call, the first choice typically of the other part of the free cash flow is to bring down our debt to a more -- to a level that we feel closer to no more than 2 ratio of debt to EBITDA. And that doesn't mean that opportunistically, we may go out there and buy back our shares as we did last quarter, and indicated by Kirsten, when we did $4.2 billion of stock buyback. Now part of it is used to basically when employee RSUs vest basically use -- we basically buy back part of the shares used to be paying taxes on the vested RSU. But the other part of it, I do admit we used it opportunistically last quarter when we see an situation when basically, we think that it's a good time to buy some shares back, and we do. But having said all that, our use of cash outside of dividends would be, at this stage, used towards reducing our debt. And I know you're going to ask what about M&A? Well, the kind of M&A we will do in our view would be significant, would be substantial enough that we need debt in any case. And it's a good use of our free cash flow to bring down debt to, in a way, expand, if not preserve our borrowing capacity if we have to do another M&A deal. Operator: One moment for our next question. And that will come from the line of Srini Pajjuri with Raymond James. Srinivas Reddy Pajjuri: Hock, a couple of clarifications. First, on your 2026 expectation, are you assuming any meaningful contribution from the 4 prospects that you talked about? Hock E. Tan: No comment. We don't talk about prospects. We only talk about customers. Srinivas Reddy Pajjuri: Okay. Fair enough. And then my other clarification is that I thin”