By the way, you're certainly right that increased interest rates depress the NPV of capital expenditures as the cost of capital increases. That means businesse

By the way, you're certainly right that increased interest rates depress the NPV of capital expenditures as the cost of capital increases. That means businesses planning to, say, open a new factory or expand into a new market, might choose to delay or cancel those plans, and that can certainly impact growth projections. But the tech megacorps aren't typically growing that way anymore. And even in the case of a company like Meta, which is investing heavily in their "metaverse" vision, they're funding that with cash because they're money printing machines.