This weekly newsletter pulls together summaries of the top ten most-read Insights across Tech Hardware and Semiconductor on Smartkarma.
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1. Zhipu & MiniMax. Six Months Into Their HK Listings, China’s AI Tiger Cubs Are Yin & Yang
- Zhipu & MiniMax both IPO’d on the Hang Seng within a single day of each other back in January & both exited their lockup expiry dates earlier this week
- Zhipu (Knowledge Atlas 2513.HK) now trades at HK$1,884 compared to its IPO price of HK$116 while MiniMax now trades at HK$259 as compared to its IPO price of HK$165
- Zhipu placed up to 19,780,000 new H shares at HK$1,588 (~13% discount) each on July 9, raising an expected gross proceeds of approximately HK$31.41 billion. Smart move.
2. Taiwan Dual-Listings Monitor: TSMC and UMC and ASE Below -1 SD Band; Long Opportunities
- TSMC: +13.5% Premium; Below -1 SD Band; Long the ADR Spread
- UMC: -8.0% Discount; Below -1 SD Band; Long the ADR Spread
- ASE: -1.9% Discount; Below -1 SD Band; Long the ADR Spread
3. Taiwan Tech Weekly: Memory’s Big Run Wobbles, But Other Supply Chain Shortages Keep Broadening
- Taiwan’s memory leaders tumbled after China’s GigaDevice warned prices had peaked, and a US class action accused Samsung, SK Hynix and Micron of colluding to inflate DRAM prices.
- A report that Meta will resell spare AI compute sparked a global chip selloff, with the Philadelphia Semiconductor Index down 6.27%, though Nomura called the shortage far from over.
- Even so, pricing power spread to passives and timing chips, silicon-wafer and component makers led Taiwan’s gainers, and Korea pledged another US$290bn into memory fabs.
4. Sergey Brin On Model Convergence, Prompt Engineering & Transformer Evolution
- Model Convergence: capabilities that once required specialized models are increasingly handled by the main Gemini LLMs, which can now be state of the art for math and other scientific questions
- Brin admitted he is “always kind of confused as to how to prompt the models” and even the Gemini team does not know exactly where the models’ capability edges are!
- He cited chain-of-thought (”think step by step”) as an example of a technique that seemed trivial or “the dumbest thing ever” yet drove a significant jump in AI capability.
5. Silergy (6415.TT): Announced June Month Revenue Showed
- Silergy-KY (6415) announced its June 2026 revenue after market close on July 10. The nearly 38% YoY growth significantly outperformed the same period last year
- Second-Quarter revenue growth remains on track. The market’s focus will now shift from revenue growth to gross margin (GM) improvement and the company’s third-quarter outlook during the earnings conference call.
- Will EPS improve simultaneously? We believe there is a good possibility, with a relatively high probability.
