Alexei Gogolev
JPMorgan Chase & Co, Research Division

Okay. Great. Hi, everyone, and welcome to JPMorgan Boston TMC Conference. My name is Alexei Gogolev, Head of Vertical SaaS team. And today, I'm delighted to be hosting one of the key founders and majority holder of Bentley Systems, Company Chairman, Greg Bentley. Greg, welcome.

Alexei Gogolev
JPMorgan Chase & Co, Research Division

I guess first, Greg, I wanted to start by discussing the fact that the stock has traded as if the market is somewhat skeptical about Bentley's ability to fully capture upside from AI? And in many of your conversations, you've noted that the market has sort of discontinued and discounted your value in the near term. So what's your best case for why Bentley is positioned to be an AI leader and perhaps a long-term winner in this space?

Gregory Bentley
President & Executive Chairman of the Board

Well, Alexei, the very long term is how we set our compass Bentley Systems, and it perhaps is not surprising given our family majority ownership. And that's the case with our generational succession in management. I was CEO for 30-plus years. Our new management team, new to their positions but not new to the company necessarily are in their 40s. And their refrain is infrastructure AI as their opportunity. And I had thought of that as rather audacious in the scheme of things, such a major opportunity is that. But as things developed, I've come to be astonished at the pace at which AI is bringing the future forward for us and what we have