Coffee, Croissants & Credit/Fortum, LEG Immo, WP Carey, American Tower...

Utilities - Fortum: 9M25 weak performance

Mozaic Theory - HAMR Ramp + GM Gains = Promising Future

How much WFE is required to produce a 1 GW datacenter?

As a follow up to our cheat sheet summarizing the cost structure of a 1GW datacenter, we estimate today on a single slide WFE required to produce semiconductors for a 1 GW datacenter, with our usual important caveat: WFE spending is driven by the growth of production capacity. In other words, one spends once on WFE to build a 1GW datacenter many times over.

Daily Views on Tech Headlines

Lux will use MI350 silicon, a result that should create a modest boost for AMD's server compute/GPU revenues in the early 2026 time frame. Discovery will be built around the MI430, a variant of AMD's MI400 processors tuned for HPC. The biggest surprise here (in our view) is Discovery's delivery isn

Micron Technology, Inc. - August 2025 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Analog Devices, Inc. and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 22 October 2025 in which we reassessed the appropriateness of the ratings in the conte...

Gen AI Big Idea Series – Ayar Labs CEO, Mark Wade Co-packaged optics u...

We kicked off the 5th annual BCG × NSR Gen-AI Big Idea Series this month. We will host a slate of exceptional speakers through Feb-26 (full line-up on website).  Our first session, a conversation with Mark Wade, CEO of Ayar Labs, went deep on optical I/O: progress in bringing optical I/O to market, the roadblocks to scaling co-packaged optics, and how optical interconnects could redefine the architecture and economics of datacentres. Please see the link below for our takes.

Daily Views on Tech Headlines

Daily Views on Tech Headlines

Wedbush Morning Call - Oct 24 2025 7:05AM

Better Current Backdrop vs. Better Future Prospects

LAM 1FQ26: China and HBM drive beat. Maintain cautious view on 2026. $...

LAM reported 1FQ26 last night. Please click the link for our take on the print.

OpenAI buildout plans – what do they tell us about best 5-year investm...

OpenAI announced a series of major contracts and partnerships in recent weeks, suggesting ambitions to deploy anywhere between 10 and 30GW of compute, with rich information about potential vendor positioning. We investigate in this research what can be inferred from these contracts and partnerships, and draw implications for the main names we cover, involved in the supply chain: Nvidia, Broadcom, AMD, TSMC, Micron, and semicap manufacturers.

Two Steps Forward, One Step Back or Vice Versa?

Daily Views on Tech Headlines

TSLA, Samsung, TSMC: Tesla AI5 production to be split between Samsung, TSMCView: Elon Musk during TSLA's earnings call indicated that Samsung and TSMC will now share production of the AI5 chip. TSMC had previously been identified as the supplier of AI5 silicon.We can visualize a setup where AI5 pro

Daily Views on Tech Headlines - SNDK, MU, GFS, UMC, TXN

AI spending, Auto Cycle, Semicap in 2026, and more, our Weekly wrap-up...

As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 4 names we followed last week, follow the link below.

Moody's Ratings affirms Applied Materials' A2 senior unsecured ratings...

Moody's Ratings (Moody's) affirmed Applied Materials, Inc.'s (Applied) A2 senior unsecured ratings and P-1 commercial paper rating. The outlook remains stable. The affirmation reflects our expectation that performance and credit profile will remain strong over the next 12 to 18 months despite some...