reports
- Pierre FerraguÊ
2026 AI Infra. outlook forming: XPU spending catching up with capex, u...
It has been a busy week with Nvidia’s comments in Washington and three hyperscalers reporting last night. Building on these updates, we have already formed a very insightful perspective on how AI infrastructure deployments are shaping up for next year. Please follow the link for our insight summarized on a single slide.
ANET ARISTA NETWORKS INC.
NVDA NVIDIA CORPORATION
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
MRVL MARVELL TECHNOLOGY GROUP LTD.
CSCO CISCO SYSTEMS INC.
5930 SAMSUNG ELECTRONICS CO LTD
JNPR JUNIPER NETWORKS INC.
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AVGO BROADCOM INC.
660 SK HYNIX INC
- Antoine Legault
- Matthew Bryson
Daily Views on Tech Headlines
Shipments in Q4 are expected to dip 10% Q/Q given reduced inventories to pull from and Samsung's ongoing conversion of older lines (which is weighing on output).Capex: The company is considering a significant increase in capex in 2026. DRAM - Management noted spend should skew towards DRAM. For DRA
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PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Wedbush Research
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
MNKD MANNKIND CORP.
MELI MERCADOLIBRE INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
FATE FATE THERAPEUTICS INC
EBAY EBAY INC.
BIIB BIOGEN INC.
ARDX ARDELYX INC
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
NTLA INTELLIA THERAPEUTICS INC.
ANAB ANAPTYSBIO INC.
ARGX ARGENX ADS
AMD ADVANCED MICRO DEVICES INC.
MSFT MICROSOFT CORPORATION
APLS APELLIS PHARMACEUTICALS
TENB TENABLE HOLDINGS
SMCI SUPER MICRO COMPUTER
STTK INC.
BEAM SHATTUCK LABS
FUBO BEAM THERAPEUTICS
U FUBOTV
TVTX UNITY SOFTWARE
RZLT TRAVERE THERAPEUTICS INC
UFPI REZOLUTE
SANA UFP INDUSTRIES INC.
STX SANA BIOTECHNOLOGY
TCRX SEAGATE TECHNOLOGY HLDGS PLC
APP TSCAN THERAPEUTICS INC
ARTV APPLOVIN CORP
PRME ARTIVA BIOTHERAPEUTICS INC
SYRE PRIME MEDICINE INC
RNAC SPYRE THERAPEUTICS INC.
ZBIO CARTESIAN THERAPEUTICS INC
MAZE ZENAS BIOPHARMA INC.
JBIO MAZE THERAPEUTICS INC
JADE BIOSCIENCES INC
- Antoine Legault
- Matthew Bryson
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
SMCI SUPER MICRO COMPUTER
STX INC.
SEAGATE TECHNOLOGY HLDGS PLC
- Pierre FerraguÊ
- Antoine Legault
- Matthew Bryson
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
TSEM TOWER SEMICONDUCTOR LTD
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Antoine Legault
- Matthew Bryson
Daily Views on Tech Headlines
DRAM demand growth: Forecast to rise from high-teens % in 2025 to 20%+ in 2026. Hynix is emphasizing its transition to 1C to support conventional DRAM demand (expected to represent >50% of Korean capacity by end of 2026) and its ramp of M15X to increase HBM output in 2026.NAND demand/supply grow
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Wedbush Research
WDC WESTERN DIGITAL CORPORATION
TSLA TESLA INC
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
MTH MERITAGE HOMES CORPORATION
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
CHKP CHECK POINT SOFTWARE TECHNOLOGIES LTD.
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
EA ELECTRONIC ARTS INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
BKNG BOOKING HOLDINGS INC.
RCUS ARCUS BIOSCIENCES
LYFT LYFT
UBER UBER TECHNOLOGIES INC.
SMCI SUPER MICRO COMPUTER
CRSR INC.
OCUP CORSAIR GAMING
FUBO OCUPHIRE PHARMA INC
DASH FUBOTV
PLTR DOORDASH
STX PALANTIR TECHNOLOGIES
GFS SEAGATE TECHNOLOGY HLDGS PLC
CART GLOBALFOUNDRIES INC
SNDK MAPLEBEAR INC.
SANDISK CORP
- Antoine Legault
- Matthew Bryson
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
STX SEAGATE TECHNOLOGY HLDGS PLC
GFS GLOBALFOUNDRIES INC
- Antoine Legault
- Matthew Bryson
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
IBM INTERNATIONAL BUSINESS MACHINES CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
SEAGATE TECHNOLOGY HLDGS PLC
- Gary Brode
- Antoine Legault
- Matthew Bryson
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
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
AMD Powers U.S. Sovereign AI Factory Supercomputers, Accelerating an O...
AMD Powers U.S. Sovereign AI Factory Supercomputers, Accelerating an Open American AI Stack News Highlights The Lux AI supercomputer, powered by AMD and housed at Oak Ridge National Labs, will be the first dedicated U.S. AI factory for science and will be deployed in early 2026.AMD will power the next-generation supercomputer at Oak Ridge National Labs, called Discovery – which will advance U.S. AI and scientific research at massive scale.Together, Lux and Discovery, directly support the U.S. AI Action Plan by accelerating AI-enabled science, strengthening national competitiveness, and ena...
- Pierre FerraguÊ
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.
AMD Completes Divestiture of ZT Systems Data Center Infrastructure Man...
AMD Completes Divestiture of ZT Systems Data Center Infrastructure Manufacturing Business to Sanmina News Highlights AMD retains ZT Systems’ rack-scale AI solutions design and customer enablement expertise Strategic partnership with Sanmina to accelerate quality and time-to-deployment for cloud customers SANTA CLARA, Calif., Oct. 27, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: AMD) today announced the completion of the agreement to divest the ZT Systems U.S.-headquartered data center infrastructure manufacturing business to (NASDAQ: SANM). As part of the transaction, AMD retains ZT Systems’ wo...
- Antoine Legault
- Matthew Bryson
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Antoine Legault
- Matthew Bryson
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
- Wedbush Research
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
IMAX IMAX CORPORATION
GOOGL ALPHABET INC. CLASS A
FB FACEBOOK INC. CLASS A
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
MDB MONGODB INC. CLASS A
AMZN AMAZON.COM INC.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
PINS PINTEREST INC. CLASS A
SMCI SUPER MICRO COMPUTER
PLTR INC.
SNOW PALANTIR TECHNOLOGIES
RBLX SNOWFLAKE INC. CLASS A
STX ROBLOX
GLUE SEAGATE TECHNOLOGY HLDGS PLC
GFS MONTE ROSA THERAPEUTICS INC
GLOBALFOUNDRIES INC
- Anish Jog
- Daniel Ives
- Matthew Weiss
- Sam Brandeis
- Scott Devitt
- Steven Wahrhaftig
- Antoine Legault
- Matthew Bryson
WDC WESTERN DIGITAL CORPORATION
SIMON SILICON MOTION TECHNOLOGY CORPORATION SPONSORED ADR
PSTG PURE STORAGE INC. CLASS A
NVDA NVIDIA CORPORATION
NTAP NETAPP INC.
MU MICRON TECHNOLOGY INC.
INTC INTEL CORPORATION
AXTI AXT INC.
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.
2303 UNITED MICROELECTRONICS CORP.
AMD ADVANCED MICRO DEVICES INC.
AAPL APPLE INC.
MSFT MICROSOFT CORPORATION
SMCI SUPER MICRO COMPUTER
STX INC.
GFS SEAGATE TECHNOLOGY HLDGS PLC
GLOBALFOUNDRIES INC
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