Thomas Caulfield : John, go on reverse order handset.
John Hollister : Yes. No problem, Mehdi. So D&A, roughly consistent. It’s how we see that. We’ve drawn down our CapEx a fair amount. As we presented in our prepared remarks, we see about $700 million is our estimate for the year, which is enabling tremendous growth in free cash flow and we’re holding the view that can increase to 2x to 3x the free cash flow that we generated in 2023. So that’s positive. As far as OpEx, just a quick reminder that we had a large credit in the fourth quarter related to the advanced investment tax credit that was coming into SG&A, that was about $50 million coming into SG&A. That was about $50 million of credit in Q4. We’ve got normalized now in the first quarter, but you do see an uptick in OpEx for Q1 related to that as that was a one-time benefit in the fourth quarter.
Niels Anderskouv : So let me maybe address the data center part of the question. So in data center, the two major growth pictures that we’re seeing is, as you pointed out, silicon photonics and power delivery. So maybe if I start with silicon photonics, where the market is at today is that you’re starting to see adoption and products being released in what we term as the pluggable space. So these are the pluggable type of silicon photonic devices that you’re seeing out there today, where we’re seeing a lot of activity for future growth and maybe more substantial growth is in the co-packaged silicon photonics, where basically you’re starting to see silicon photonics becoming a real design consideration for GPUs, NPUs and CPU simply to be able to enable the BAM if you need to have not just within the rack, between the ranks but also within and between the processors that sits on the main board.
So that’s a big growth rate. Obviously, not something that happens on night. These are big infrastructure changes. So you should expect that will probably take a couple of years before it really materialize, but starting to see some early momentum on that front. Power delivery, very exciting. We’re making very good progress on that power delivery for data centers. Initially, it is with our BCD technology and our 12 nanometer technology that we’re seeing the first tape-out. And as you know from previous calls, we are investing in GaN technology as well and we believe GaN both the 650-volt as well as the [Honda Volt GaN], we’ll have a major play also within the data center. So those are some of the future growth areas wells in data center out in time.
Sam Franklin: Julie, I think we’re coming up on the hour now.
Operator: This concludes the session. I would now like to turn it back to Sam Franklin, Vice President of Business Finance and Investor Relations for closing remarks.
Sam Franklin: Thank you, Julia. Thank you, everyone, for joining us on the call today. I appreciate the questions and looking forward to seeing and speaking to many of you over the next couple of months.
Operator: Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.
