Lvseguowang

[Michael Burry Stock Tracker ♟ @burrytracker]

You can’t make this up

Burry opens a long position on $NVDA and hours later they dump 2% on earnings

[Dan Nystedt @dnystedt]

Is DRAM worth its weight in Gold? Strong AI demand has driven memory chip prices up so fast that 1-kilogram of South Korea DRAM now costs as much as 620 grams of gold – up from 120 grams at the 2023 cyclical trough, according to South Korean trade data cited by media. That’s a 12.5x price surge in under 4-years. $MU $SSNLF $SKHY #semiconductors

[SK hynix @SKhynix]

What if chips could be stacked without bumps? 🤔Hybrid bonding could reshape next-generation #HBM by connecting chips without bumps, enabling denser connections, faster signal transmission, and better heat dissipation.

🔗 https://t.co/4wIVVpP1e2

#SKhynix #HybridBonding

[Micron Technology @MicronTech]

Every AI agent needs memory to remember what it's doing, what it's learned and what comes next.​

Scale that to thousands of agents running simultaneously, and memory capacity can become a key factor in AI inference performance, especially for long-context workloads. That's why we're advancing solutions like our SOCAMM2 modules to create the memory foundation for the next generation of AI. Read more → https://t.co/y74qhGcbT5

[Jeff Pu @sssjeffpu]

ASIC Warp-Up

📈Stock Picks: maintains a positive view on MRVL, MTK, and Intel following recent earnings, supply chain checks and our recent notes.
👊Nvidia vs. ASIC: Nvidia's CoWoS share at TSM will remain stable in 2027; Nvidia Vera Rubin outperforms competitors in performance/TCO/supply chain.
* TPU Dynamics: On June 14 report, we lowered Broadcom's Sunfish volume for 2026/27 due to packaging re-design and set 460k CoWoS (ASIC) in 2027; MTK Humufish (which leads in N2 vs Whalefish) potential launch in 4Q27 suggesting the window for Broadcom’s CoWoS back to TPU could be only in 1H26. Expect Humufish tape-out in around Nov-2026 with a not too high passing rate.
* Google Custom Silicon: MRVL expects meaningful contributions from Google CXL and DPU (~$3bn each by 2028), with an MPU start on TSMC N2 yielding $3bn+ in CY28 revenue.
* AWS Trainium: Reit MRVL T3 of $1bn/$2bn in CY26/27 and likely >$3bn from T4 in CY28 with a much higher ASP and better NPO scale-up.
* Intel Backend Packaging: Reit Intel's FY27/FY28 back-end revenue forecast of $1.1bn/$7bn, supported by AWS T3 EMIB-T and Google Humufish/Triggerfish volumes through 2H27-2028. We expect more wins for U.S. fabless including MSFT, QCOM, MRVL, with products across ASIC, CPU and CPO. ABF substrate to greatly benefit from EMIB.

#NVDA #ASIC #MRVL #Mediatek #SMTC #INTC #ABF

[tae kim @firstadopter]

Micron executive asks Nvidia executive how they decide memory capacity each generation.

Nvidia executive said they study that every day. It's a tradeoff they have to make every generation

[The Kobeissi Letter @KobeissiLetter]

South Korea's chip boom is incredible.

South Korea's chip trade surplus surged to a record ~$35 billion in June, more than tripling in 12 months.

By comparison, the non-chip trade surplus was just ~$1 billion over the same period.

Meanwhile, semiconductor exports soared +198.8% YoY in the first 20 days of August, and shipments of computer-related products jumped +242.1% YoY.

As a result, South Korea’s overall exports surged +61.5% YoY over this period, marking the 2nd consecutive month of growth above +60.0%, following July’s +62.9%.

AI has transformed South Korea’s chip sector into a global industry.

[Dhaval Joshi @DhavalVJoshi]

The US 10-year REAL bond yield's rise is fast approaching the 75 bps 'danger level' increase that cracked the stock market in 2018, 2022, and early-2025. MONITOR THIS CHART VERY CLOSELY.

[Mete Karslioglu @MeteKarsli0glu]

Today, we’re launching Meteoric (YC S26).

Our drones clear clouds over solar farms to increase their annual output by 10-30% without using any chemicals.

Ultimate target: weaken severe storms and hurricanes.

https://t.co/Vt1ZGbMith

[Satya Nadella @satyanadella]

Delivery day at our Microsoft DCs as the first production Vera Rubins arrive. A huge thank you to our partners at @nvidia and our Azure hardware and datacenter teams for all the incredible work that brought us to this milestone!

[Guy Parmelin @ParmelinG]

We have concluded the negotiations to modernise our Free Trade Agreement with China 🇨🇭🇨🇳
Delighted to welcome Minister Wang Wentao to Bern as we mark this important milestone for Swiss businesses and take another step forward in our economic relations.

[TipRanks @TipRanks]

🚨BMO Started Coverage of Five Chip Stocks with Outperform Ratings

Micron $MU – Outperform, $1,300 PT: BMO sees Micron benefiting from a “prolonged memory supercycle,” driven by constrained supply and “exceptionally strong” demand, with growth across all product lines.

Nvidia $NVDA – Outperform, $340 PT: BMO views Nvidia as a leader in complete AI systems, supported by its integrated technology stack and large-language model ecosystem exposure. Demand remains robust, with much of its capacity sold out for the next 12-plus months.

$AMD – Outperform, $550 PT: BMO says AMD is on the “verge of becoming a complete AI infrastructure provider,” with its Helios AI rack positioning it as Nvidia’s closest competitor and potentially helping it gain AI infrastructure share.

Marvell $MRVL – Outperform, $250 PT: BMO highlights Marvell’s position in data center infrastructure and optical networking for hyperscalers, saying the company is executing across multiple fronts.

Broadcom $AVGO – Outperform, $455 PT: BMO points to accelerating AI and XPU demand, with networking remaining a key pillar of the company’s growth.

[Wall St Engine @wallstengine]

$NVDA is in early talks with South Korean AI chip startup Rebellions over a potential technical partnership, investment, or even an acquisition.

Jensen Huang met Rebellions CEO Sunghyun Park at Nvidia’s headquarters this week to discuss a possible tie-up.

Note: Rebellions is valued at about $2.3B and has raised roughly $850M from investors including SK Hynix, Samsung Ventures and Arm. The company develops data-center NPUs designed for AI inference.

The talks are still preliminary, and any acquisition could face regulatory scrutiny in both the U.S. and South Korea.

[Moosa @questmoosa]

If you want to look extremely beautiful and feel amazing all the time, ensure your neck posture at rest is correct all the time.

When your neck is out of allignment for 90-95% of the day - arteries,veins and nerves in the neck can become easily compressed - such a person feels anxious, insecure and is always worried about what others think about them.

When your neck is out of allignment, key lymphatic vessels and veins also become compressed resulting in loss of drainage - causing stagnation, puffiness and even the appearance of dark circles under the eyes.

I’ve always struggled with my neck and general posture (it usually looks like the left person) but I believe that correct neck posture is extremely important for improving looks and brain health.

You can improve your neck posture by doing the following 5 things:

- Strengthen your neck muscles

- Strengthen your thoracic back extensors

-Imagine a string is attached to your head and is pulling your head

- Stop clenching your lower jaw backwards (avoid mandibular retraction)

-Stop clenching your upper abs muscles

Doing these things consistently will change absolutely everything

Most people focus excessively on diets and supplements but I believe that improving posture is just as important - if not even more important.

What use is the perfect diet and $9997 supplements and peptides if your jugular veins and vagus nerves are compressed by muscles and BONES.

Improving your neck posture helps you get ahead of the general population because most people are stuck in poor posture.

As your neck posture improves, brain circulation, lymphatic and venous drainage also improves dramatically -resulting in less fatigue, reduced stress and anxiety.

The quality of your life goes through the roof.

[Rey英语自由与判断位 @ReynoldDai]

Peter Thiel: 中年人的职业危机根源
原因在于 prestige > substance
以社会声望作为代理指标
无视自己的兴趣与热爱
一窝蜂地冲进大家都认为热门的赛道
过20年才发现上班如上坟

Thiel给年轻人的真正忠告不是追随激情
是更深��层：
不要无意识地选主流默认路径；
在选择人生路径之前，
先夺回“为什么”的解释权。

这两层的分别：
执行位问：怎样赢得这个游戏？
判断位问：这个游戏值得玩吗？
系统安全性和长远预期、上限...

因为其他人都想要而进入，
那其实已经把自己的人生决策外包给了社会

另一条路径：
从兴趣与痴迷出发 → 建立深厚技术能力
→ 获得指数级杠杆 → 进入巨大的未来问题空间

进入AI纪元之后，
10年后的优质工作
大概率不是今���的热门

[SenseTime @SenseTime_AI]

𝗦𝗲𝗻𝘀𝗲𝗡𝗼𝘃𝗮 𝗨𝟭.𝟱 𝗟𝗶𝘁𝗲 — 𝗦𝗵𝗮𝗿𝗽𝗲𝗿. 𝗠𝗼𝗿𝗲 𝗖𝗼𝗻𝘁𝗿𝗼𝗹𝗹𝗮𝗯𝗹𝗲. 𝗠𝗼𝗿𝗲 𝗖𝗼𝘀𝘁-𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝘁. An 𝗼𝗽𝗲𝗻-𝘀𝗼𝘂𝗿𝗰𝗲, lightweight native unified multimodal model for visual understanding, generation & editing.

𝗕𝘂𝗶𝗹𝘁 𝗳𝗼𝗿 𝗿𝗲𝗮𝗹-𝘄𝗼𝗿𝗹𝗱 𝘃𝗶𝘀𝘂𝗮𝗹 𝗮𝗿𝘁𝗶𝗳𝗮𝗰𝘁 𝘄𝗼𝗿𝗸𝗳𝗹𝗼𝘄𝘀:
🔹𝗡𝗮𝘁𝗶𝘃𝗲 𝟰𝗞 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻 with better detail, composition & realism
🔹𝗖𝗼𝗺𝗽𝗹𝗲𝘅 𝗶𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗳𝗼𝗹𝗹𝗼𝘄𝗶𝗻𝗴 across subjects, counts, text, layouts & styles
🔹𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗖𝗵𝗶𝗻𝗲𝘀𝗲/𝗘𝗻𝗴𝗹𝗶𝘀𝗵 𝘁𝗲𝘅𝘁 𝗿𝗲𝗻𝗱𝗲𝗿𝗶𝗻𝗴 & 𝗺𝘂𝗹𝘁𝗶-𝘁𝗲𝘅𝘁 𝗹𝗮𝘆𝗼𝘂𝘁
🔹𝗣𝗿𝗲𝗰𝗶𝘀𝗲 𝗶𝗺𝗮𝗴𝗲 𝗲𝗱𝗶𝘁𝗶𝗻𝗴 & 𝗰𝗼𝗻𝘁𝗿𝗼𝗹 with visual markers, bounding boxes & multi-image references

Just 𝟴𝗕 parameters — outperforming same-size models in instruction following and editing preservation, while 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗹𝗮𝗿𝗴𝗲 𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗺𝗼𝗱𝗲𝗹𝘀 𝗶𝗻 𝘁𝗲𝘅𝘁 𝗿𝗲𝗻𝗱𝗲𝗿𝗶𝗻𝗴 𝗮𝗻𝗱 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝗹𝗮𝘆𝗼𝘂𝘁𝘀.

🛠️GitHub: https://t.co/VQfh3IKdu2
🤗HF: https://t.co/IFiahGktbu
👾Discord: https://t.co/8MkRBA1ac5
🎨SenseNova Studio: https://t.co/yaXjXJ4aeW

[Derya Unutmaz, MD @DeryaTR_]

I’m super excited for this Builders Unscripted podcast with @romainhuet at @OpenAI. He is a fantastic interviewer & the talk flowed so naturally, completely unscripted! This was also mostly about Codex & how I've been using it in building biomedical apps, with some real demos! ☺️

[SK hynix @SKhynix]

Published in Nature Electronics, a new paper from @SKhynix and University of Virginia researchers explores how CPO can overcome the “bandwidth wall” through optical connectivity.

🔗 Read the full story below.
https://t.co/ah7I44dEQA

#SKhynix #CPO #AIInfrastructure

[Generalist @GeneralistAI]

Introducing GEN-1.5, a one-shot learner.

It can learn new tasks in a few seconds. Show it what to do, and it generalizes.

This capability emerged from pretraining on physical data at scale, as a step towards our mission of building general intelligence for the physical world.

[Kyle Reidhead | Milk Road @KyleReidhead]

WOW! 39% of every dollar the hyperscalers spend on AI goes to $NVDA

UBS says that's 49% by 2028, on a capex number 60% bigger than today

Two things are happening on this chart (and one thing not shown on this chart) that will put NVIDIA to ATHs very soon (Save This!)

UBS has hyperscaler capex going from $492 billion in 2025 to $1.6 trillion in 2028, a 3.3x (others estimate more than $2T by 2027 by the way)

But NVIDIA's slice grows from 39% to 49% at the same time, driving its data center revenue from $194 billion to $792 billion, which is 4.1x

Now here's the important part:

Going from Blackwell to Vera Rubin, the bill of materials on a single rack roughly doubled to an estimated $7.8 million, with the memory bill alone up over 400% to more than $2 million (bullish Micron).

That should have wrecked gross margin, but it didn't. NVIDIA printed 75% gross margin last quarter on $81.6 billion of revenue and then guided 75% again for this one

They passed a doubling of input costs straight through to the buyer and the buyer paid without blinking (that's what pricing power actually looks like, not just a good quarter)

But margins aren't even the only interesting part anymore, because the business model changed 7 weeks ago.

On July 1 NVIDIA started a revenue-share pilot with Sharon AI and Firmus across 210,000 Grace Blackwell GPUs

So NVIDIA now sells you the rack at a 75% margin and then collects a cut of whatever that rack earns for the rest of its working life (which we now know has a lifespan of up to 10 years)

Morgan Stanley models that second line at roughly $51 billion a year by fiscal 2029 at gross margins approaching 100%, because there's no hardware and no depreciation sitting underneath it

None of that revenue is in the green bars on this chart just yet

If you think the company with the best GPUs, the largest manufacturing scale and a royalty on its own output somehow loses pricing power from here, then you've lost the plot.

But even if you do, NVDA trades around 22x forward earnings today. Take UBS's own $792 billion, run it at a 55% net margin (below the ~63% NVIDIA earns right now) and apply today's exact multiple with zero expansion, and you land near $400 a share against $219 today (my guess is its much higher since margins won't compress that much)

Of course $NVDA is a name I hold in my Milk Road PRO portfolio, and if this was helpful, my company runs a service where 5 top-tier analysts share their research and real-time portfolios so you can see exactly what we're buying and when.

We're raising prices on August 26, but you can still lock in the current price for life is you sign up now. Learn more here: https://t.co/XHs6KR5FNI

Don't forget to give me a follow @kylereidhead for more insights on AI and markets