Con

[Codez @0xCodez]

https://t.co/eJB3TgyJwV

[Zephyr @zephyr_z9]

What's happening in the MLCC market

First off, MLCC as a whole is a $15B market. MLCCs for servers were a $1.3B market in 2025 ($600m for AI servers, $700m for general servers)
The AI server MLCC market is growing at 80%+ CAGR, and the general server MLCC market will also accelerate due to agentic AI increasing CPU demand (around 30%-40% CAGR)
We will see negative growth in the smartphone/mobile MLCC market for at least 2026-27.
Humanoids are another future high-growth market for MLCCs
Book-to-bill ratio for most MLCC suppliers is over 1 now

Reasons for price hikes-
High Nickel & Silver are affecting all segments
There is a supply-demand mismatch in the high-end (high capacitance, high voltage) segment, which is used in autos & servers
High-end MLCC lead time is over 20 weeks
Spot/distributor prices have increased by 20%-40% for low capacitance & consumer device MLCCs due to hoarding and double booking, especially in China
OEM contracts have not seen large price hikes yet

What's happening now:
Rapid capacity expansion happening across the industry
Murata expects blended ASP prices to remain flat (ASP going down in consumer electronics, expansion in AI server market)
Tier 1 players like Murata, Taiyo Yuden, SEMCO building capacity to serve AI server MLCC market
This will create opportunities for Tier 2/3 and Chinese suppliers to expand in the mid to low end market (Macronix effect)

Future:
MLCC production equiment & raw materials suppliers will be the biggest beneficiary of this CAPEX boom
MLCC producer stocks have performed well, and it is finally spilling to raw material/equipment producers
I expect them to outperform MLCC producers now

[Rene Sellmann @ReneSellmann]

Want to know what it takes to make it on Wall Street?

This Goldman Sachs "Recommended Reading" list, given to incoming analysts, covers everything from market psychology to complex derivatives.

Bookmark this tweet so you don't lose the ultimate finance syllabus.

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[𝐷𝑟. 𝐼𝑎𝑛 𝐶𝑢𝑡𝑟𝑒𝑠𝑠 @IanCutress]

Doesn't look like a huge breakthrough. They're using a technique that's expected to be done by everyone - because they can't scale litho, they've accelerated other parts of the roadmap.

Logic splitting is best shown in AMD's 2021 roadmap. It requires tight pitch TSVs and best in class HBI. So even if it comes out in 2026/2027, Huawei still has a way to go to hit 14A equivalents by 2031 using SMIC multipatterning.

Also what is equivalent here? Chip perf? Logic density? Power? All of them? DTCO has been part of node and chip design for many years, and is often heralded as a 'node or better' uplift when done right. 2031 having 14A equivalent might be SMIC 7+++++ in reality. As in, each node has lots of improvements to make if you get stuck on it for a while.

[Jukan @ ICML @jukan05]

I wasn’t planning to share this, but it’s such a high-quality explanation of CPO that I have to.

Just watch it. You’ll regret it if you don’t.

https://t.co/Z5M3TvHH2B

[Martin @martinmrmar]

Thought I would show you a Calculus textbook by Louis Leithold from 1986.... it's very different in comparison to our modern Calculus textbooks by Stewart. Def less graphics, less fluff and I think more rigour..

[Callum Thomas @Callum_Thomas]

Chart of the Week - Becoming Investable

First they said it was un-investable.

Then it broke out: but they said it was still in a downtrend...

Now it’s broken that downtrend line.

And there are still several reasons to expect further upside.

Here’s why I’m bullish on Chinese stocks:

Strong Technicals: as alluded to, we’ve seen 3 key breakouts (through the 200-day average, through long-term overhead resistance, and through the down trendline joining the last two major peaks).

Stock/Bond Ratio: we’ve also seen a key breakout in an indicator almost no-one else watches; the Chinese stock/bond ratio (important risk-on signal).

Cheap Valuations: Chinese stocks are reasonable vs history, cheap vs peers, and cheap vs bonds (very high equity risk premium).

Macro Tailwinds: we’ve seen a steady drift lower in interest rates, incremental stimulus measures, and now a tentative upturn in the PMIs from quasi-recessionary levels.

Sentiment: we’re seeing strong retail participation (likely an element of rotation out of languishing property and overheated gold, into stocks), earnings revisions momentum indicators are surging from previous pessimism, and there’s still an air of skepticism among global investors.

So it’s a case of good price and flows momentum, scope for upside in valuations, macro updrafts, and a steady changing of minds as price moves sentiment.

All this adds up to a bullish picture with room to run. It’s also entirely consistent with the bullish outlook for commodities and emerging markets.

Key point: There’s room to run in China A-Shares’ triple-breakout.

[Con @luxin188]

@Wario64 ，

[FinGenAi @ackmeni]

US Tech Returns Are Being Driven by P/Es | Bloomberg
_/ Revenues' contribution is dwindling towards zero.
_/ Tech is reliant on investors' expectations becoming further distant from price.
_/ Multiple's contribution to tech returns is edging towards levels of tech bubble in 2000.

[Dragonetti031 @Dragonetti0311]

Chiplet technology is popular under the AI ​​boom and considered the most important breakthroughs in 60 years since the integrated circuit was invented. Chip manufacturers design chips to be Stacked like high-tech Lego bricks to create more powerful chips. https://t.co/XpbeX85RL0

[nobi @0xnobi]

Top Signals:

- ansem & co. fundraising for WIF marketing
- Cobie selfie with "big week"
- "Boden" existing
- "NFTNick" videos @allnick
- FaZe @Banks NFT trading vlogs @probablynothing
- West Ham shitcoining groupchat
- DOGE didn't hit 0.3
- Peter Schiff @PeterSchiff launched an Ordinals collection
- Gold ATH
- 72k and walk away
- I sold my beachfront property on the coast of Wice City
- @boldleonidas quit his job
- aella birthday & fluffer discourse
- AI coins pumped

feel free to add more

[Eda @edatweets_]

Just released: Beginners Guide to Zero-Knowledge 🌞

In a world where most ZKP content is overly technical & complex, here's my attempt at a newbie-friendly guide.

My post covering:
- Whats ZKP & zkSNARK?
- How they work?
- Why you should pay attention? https://t.co/waDYUWcsaM

[louthing @LouthingE]

#EIP4844 (Proto-Danksharding): What impact will it have on the L2s transactions cost?
Which L2 will win the fee war? ⚔️💰

🧵⬇️ Let's deep dive into an analysis & projections + TLDR attached

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[SchiffGold @SchiffGold]

Gold just reached a new all-time high but #silver might be the one to buy. Here's our 10-minute analysis of this week's market news and @PeterSchiff's most recent podcasts.

https://t.co/UZhzFbc26z

[Kevin Gee @kevg1412]

Anybody who wants to know what "austistically meticulous research" means should read this 3,671 page compilation of @BillAckman's research work.

https://t.co/L1rpoa9dLd

[Eric Basmajian @EPBResearch]

The Real-Time Sahm Rule is triggered an average of 2-3 months inside the recession with a level of 0.19 at the average recession start.

https://t.co/7m9vUQorcQ

4/

[David Bennett @DavidBennett__]

A few months old but I like and agree with @realGeorgeHotz on @lexfridman about Jim’s view on computation

https://t.co/QIJcW7LeQZ

[From Growth To Value @FromValue]

Michael Burry predicted 18 of the last 2 crashes.

When he will be right again eventually, I'm sure there will be people fainting in admiration. 🙄

[Con @luxin188]

@Cydiar404 拉我一下，谢谢

[Michael Pettis @michaelxpettis]

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According to BoC's Xu Gao, "the root cause of insufficient domestic demand lies in an income distribution issue, where the mismatch between income and expenditure intentions results in a shortage of overall demand."

https://t.co/PnSOKI1XVL