Technology / Semiconductor / Internet Research

Nicolas Baratte

Equity Bottom-Up

<ul>
<li>Nvidia CEO said he has a $500bn AI order book. If over the next 7 quarters, it means growth will remain at ~60% YoY till Apr-27. No slowdown. That’s possible.</li>
<li>If it’s over the next 5 quarters (which is what he actually said), it’s enormous growth reaching ~200% YoY in 2H26. I doubt that the supply chain can do that.</li>
<li>Consensus is the lowest with most room for upside: Memory stocks. Consensus too low by ~20%: Nvidia. Just a it too low: TSMC.</li>
</ul>


Nvidia CEO said he has a $500bn AI order book. If over the next 7 quarters, it means growth will remain at ~60% YoY till Apr-27. No slowdown. That’s possible.
If it’s over the next 5 quarters (which is what he actually said), it’s enormous growth reaching ~200% YoY in 2H26. I doubt that the supply chain can do that.
Consensus is the lowest with most room for upside: Memory stocks. Consensus too low by ~20%: Nvidia. Just a it too low: TSMC.


Nvidia Jensen’s $500bn: What Did He Say Exactly? What Does It Mean for Supply Chain Forecasts?

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

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Cross Asset Strategy

<ul><li>Chips /Cover Story: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush</li><li>China-U.S. /: China, U.S. Reach Basic Consensus in Kuala Lumpur Trade Talks Ahead of Leaders’ Summit</li><li>Hospitals /: China’s Public Hospitals Report Mixed Fortunes as Financial Pressures Mount</li></ul>

Chips /Cover Story: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold RushChina-U.S. /: China, U.S. Reach Basic Consensus in Kuala Lumpur Trade Talks Ahead of Leaders’ SummitHospitals /: China’s Public Hospitals Report Mixed Fortunes as Financial Pressures Mount

CX Daily: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush 

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

Thematic (Sector/Industry)

<ul><li>Companies in the public cloud are refreshing their server infrastructure every four to five years, but may accelerate this cycle due to the performance benefits of new CPUs and GPUs.</li><li>Despite advances in technology, older GPUs are still being used and making money for data centers, leading to questions about the economic lifespan of GPU systems.</li><li>Hyperscalers have adjusted their accounting policies to depreciate server hardware over longer periods, potentially impacting depreciation expenses.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Companies in the public cloud are refreshing their server infrastructure every four to five years, but may accelerate this cycle due to the performance benefits of new CPUs and GPUs.Despite advances in technology, older GPUs are still being used and making money for data centers, leading to questions about the economic lifespan of GPU systems.Hyperscalers have adjusted their accounting policies to depreciate server hardware over longer periods, potentially impacting depreciation expenses.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EP 138: Talking GPU Depreciation, OCP Takeaways

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>OpenAI just signed a deal with Broadcom to deploy ten gigawatts of OpenAI designed AI accelerators targeted to start in H2 2026, and to complete by end of 2029.</li>
<li>OpenAI's AMD &amp; Broadcom deals undermine the credibility of the NVIDIA deal. Where exactly is all the money going to come from?</li>
<li>In partnering with AMD and Broadcom, OpenAI has given huge credibility to AMD as a GPU competitor and Broadcom as a custom accelerator competitor. Two big headaches for NVIDIA. Ouch!</li>
</ul>


OpenAI just signed a deal with Broadcom to deploy ten gigawatts of OpenAI designed AI accelerators targeted to start in H2 2026, and to complete by end of 2029.
OpenAI's AMD &amp; Broadcom deals undermine the credibility of the NVIDIA deal. Where exactly is all the money going to come from?
In partnering with AMD and Broadcom, OpenAI has given huge credibility to AMD as a GPU competitor and Broadcom as a custom accelerator competitor. Two big headaches for NVIDIA. Ouch!


First AMD, Now Broadcom. How OpenAI Is Ruining NVIDIA's Party

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>
<a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a> will hold its earnings call on October 23. The recent upside in Intel’s share price is encouraging, but whether this trend can continue remains to be seen.</li>
<li>U.S. President Trump’s investment in <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a> has so far generated about a 48.5% return, which raises the question — what’s next?</li>
<li>That said, we continue to believe that <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a> must demonstrate real performance improvements before claiming a full turnaround.</li>
</ul>



Intel Corp (INTC US) will hold its earnings call on October 23. The recent upside in Intel’s share price is encouraging, but whether this trend can continue remains to be seen.
U.S. President Trump’s investment in Intel Corp (INTC US) has so far generated about a 48.5% return, which raises the question — what’s next?
That said, we continue to believe that Intel Corp (INTC US) must demonstrate real performance improvements before claiming a full turnaround.


Intel (INTC.US): Intel’s Share Price Is Encouraging; Caution Warranted on Its Near-Term Continuation

United States

Advanced Micro Devices, Inc. (AMD) produces semiconductor products and devices. The Company offers products such as microprocessors, embedded microprocessors, chipsets, graphics, video and multimedia products and supplies it to third-party foundries, as well as provides assembling, testing, and packaging services. AMD serves customers worldwide.

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Advanced Micro Devices (AMD US)

Nvidia Jensen’s $500bn: What Did He Say Exactly? What Does It Mean for Supply Chain Forecasts?

Nvidia CEO predicts massive AI growth potential, with orders reaching $500bn and potential for 60% YoY growth till Apr-27

Nicolas Baratte

CX Daily: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush

TOP STORIES Chips / Cover Story: U. S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush A global race to dominate artificial...

Caixin Global

EP 138: Talking GPU Depreciation, OCP Takeaways

Public cloud infrastructure refreshes involve periodically replacing servers with new CPUs, but the longer economic lifespan of older GPUs like...

The Circuit

First AMD, Now Broadcom. How OpenAI Is Ruining NVIDIA's Party

In partnering with AMD and Broadcom, OpenAI has given huge credibility to AMD as a GPU competitor and Broadcom as a custom accelerator competitor....

William Keating

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Nvidia Jensen’s $500bn: What Did He Say Exactly? What Does It Mean for Supply Chain Forecasts?

​Nvidia CEO predicts massive AI growth potential, with orders reaching $500bn and potential for 60% YoY growth till Apr-27

Nicolas Baratte

CX Daily: U.S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush

TOP STORIES Chips / Cover Story: U. S. and Chinese Chipmakers Tread Different Paths in AI Gold Rush A global race to dominate artificial...

Caixin Global

EP 138: Talking GPU Depreciation, OCP Takeaways

Public cloud infrastructure refreshes involve periodically replacing servers with new CPUs, but the longer economic lifespan of older GPUs like...

The Circuit

First AMD, Now Broadcom. How OpenAI Is Ruining NVIDIA's Party

In partnering with AMD and Broadcom, OpenAI has given huge credibility to AMD as a GPU competitor and Broadcom as a custom accelerator competitor....

William Keating

Intel (INTC.US): Intel’s Share Price Is Encouraging; Caution Warranted on Its Near-Term Continuation

​Intel Corp will hold its earnings call on October 23, recent share price upside is encouraging but performance improvements are needed for a full...

Patrick Liao

Nvidia CEO predicts massive AI growth potential, with orders reaching $500bn and potential for 60% YoY growth till Apr-27

Intel Corp will hold its earnings call on October 23, recent share price upside is encouraging but performance improvements are needed for a full...