Daily Views on Tech Headlines

Having said this, the report also notes that while glass substrates are meant to replace silicon interposers, there is not yet a pressing “must-use” need. Net, we continue to believe glass substrates will eventually become the norm (with initial penetration starting at the high end of the market),

BEAD: Update for 3 More States

In this latest update, we now include BEAD proposals from 51 states & territories. We have updated our analysis for Alaska, Florida and Utah. Comcast, Brightspeed and AT&T remain at the top of the list among wireline operators. Fiber remains the dominant technology both in terms of locations as well as funding.

Daily Views on Tech Headlines

NVIDIA Corp: 1 director

Two Directors at NVIDIA Corp bought/sold 225,051 shares at between 0.000USD and 178.817USD. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over ...

OpenAI should account for 17% of expectations for Nvidia 2027 datacent...

Total capex required to meet OpenAI’s needs could reach ~$130bn by 2027, roughly equal to what consensus forecasts, on average, for each of the top four hyperscalers over the same horizon. In this note, we estimate how much of Nvidia’s datacenter revenue expectations this represents.

Updated AI ROICs: AMZN higher, GOOGL lower, META mixed

Our updated AI ROIC estimates reflect the latest AI Capex and Cloud AI revenue updates. The original AI ROIC analysis is HERE. In the report, we review changes for each company and the primary drivers of AI returns.

5 Things to Know in Investing This Week - The What if There’s an AI Sp...

Daily Views on Tech Headlines

Wedbush Morning Call - Sep 29 2025 6:45AM

Thoughts From September Travels Through Asia

Counting Clicks: August '25 Traffic Trends

Report Overview: Our analysis includes total web visits (desktop and mobile) to U.S. and international web domains, mobile app monthly active users (MAUs), daily active users (DAUs), and total time spent (where applicable). Throughout the report, we display Y/Y changes across each of these key metr

Regional Morning Meeting Notes: Monday, September 29, 2025

Greater China Company Results | New World Development (17 HK/SELL/HK$7.84/Target: HK$6.90) In FY25, NWD reported a HK$16.3b loss and halted dividends but made progress in improving cash flow and debt structure. Short-term debt fell to HK$6.6b, or 4.5% of total debt. Debt reduction remains the priority for FY26, supported by the property sales target of HK$27b and lower capex. Management has no immediate plans for placement, rights issues or CB, but is open to considering various financing tools...

Alibaba Group (9988 HK): APSARA Conference 2025 Key Takeaways

We attended the Alibaba Cloud Apsara Conference 2025 (“云栖大会”) on 24-26 Sep 25 and noted various key growth drivers: a) potential upward revision of its Rmb380b three-year AI infrastructure capex plan; b) data centre energy consumption projected to rise 10x by 2032 vs 2022, underscoring computing demand; c) expanded partnerships, including NVIDIA, with PAI platform integration for embodied intelligence and autonomous driving; and d) launch of seven new Qwen models. Maintain BUY with a higher targ...

Greater China Daily: Monday, September 29, 2025

Top Stories Company Results | New World Development (17 HK/SELL/HK$7.84/Target: HK$6.90) In FY25, NWD reported a HK$16.3b loss and halted dividends but made progress in improving cash flow and debt structure. Short-term debt fell to HK$6.6b, or 4.5% of total debt. Debt reduction remains the priority for FY26, supported by the property sales target of HK$27b and lower capex. Management has no immediate plans for placement, rights issues or CB, but is open to considering various financing tools. ...

Some Near-Term Risks Rising, AI Monetization Is Key

US Internet: GOOGL report shows AI coding has gone mainstream

Earlier this week, Google Cloud published the 2025 DORA Report, an annual deep dive into “the trends shaping modern software development.” The report included a survey of 5,000 developers globally, and among the findings, 71% are using AI to write new code and 66% are using AI to modify existing code. We continue to see AI code generation as an important driver of cost efficiency for GOOGL, AMZN, and META as well as smaller names in our coverage, and in this brief note, we walk through some o...

The NSR AI datacenter economics cheat sheet

As we spend our days and many of our nights helping you understand what is going on in the world of AI infrastructure, we refine continuously our understanding of the cost of AI, combining our understanding of the economics of every step of the supply chain. We crystalized that in a digestible format today. Everything you need to know about a 1GW datacenter on a single slide.

BEAD: Impact of Price caps on funding

Based on a leaked internal NTIA memo related to BEAD, it seems like the final proposals by the states may not be final and the NTIA may force them to make changes to their plans. We have analyzed all the proposals so far and estimate that Comcast, AT&T and Frontier may be most impacted by these rules. However, the overall impact isn’t material.

Cable’s win share among movers

There has been an ongoing debate among investors whether low moves actually hurt the Cable companies. Until now, it wasn’t possible to answer this question due to lack of data. We now have data from Opensignal that helps us answer this question. In this report, we show that the large Cable operators have been winning more than 50% share among movers who are new to their footprint. The win share has declined over time, especially as competitive intensity has increased. Cable operators can reduce ...