Alpha～

Nvidia dipping on the Hynix HBM4 slowdown headline feels overdone tbh. Slower HBM expansion is a margin story for the memory guys, not a demand problem for Nvidia's chips. but i'm trimming a touch just in case.

INTC still holding up after that Google TPU foundry order. the turnaround is finally getting real customers 💪

funny day, megacaps red but MRVL +3.9%, INTC +3.5%, TSM +3%. money rotating out of crowded software into the actual chip makers. watching this rotation closely

AMD down 7 with the chip complex, nothing company specific, just risk coming off into the Fed. i still like the MI accelerator story long term, not adding yet

$Micron Technology (MU.US)$ still above a thousand after a 6% down day tells you how strong the base built up is. not panicking here 🧠

NVIDIA up 6% and ARM up 16% in the same session. That 10-point gap between the two numbers is telling you something. ARM licenses its CPU architecture to every company building ARM-based chips: Apple, Qualcomm, NVIDIA. Every RTX Spark laptop that ships this holiday season, every Vera Rubin data centre rack that goes live, every new ARM-based device from any manufacturer anywhere — ARM gets a royalty. NVIDIA using ARM for RTX Spark is a direct ARM revenue event. 📈Here is the RTX Spark picture: 20-core ARM CPU, 6,144 CUDA cores at the level of a desktop RTX 5070, Blackwell GPU architecture, 3nm process, 45–80W power envelope. Dell, Lenovo, Asus, MSI, and Microsoft Surface are all launching devices before the 2026 holiday season. This is NVIDIA's first laptop chip. The PC market was the one segment they did not own. Now they are attacking it directly, and Qualcomm and Intel are both in the crossfire at the same time.The market consensus going into Computex was that NVIDIA was a data centre company. The consensus coming out is that NVIDIA is an AI compute company across every form factor: data centre, workstation, laptop, and eventually edge. That TAM re-rating is exactly what the 6% move reflects. ARM's 16% reflects the same insight but one layer up the stack.

Micron earnings Thursday. Memory stocks been on fire. Please keep running 🔥

Two new data centers announced, powered by renewables, and Wells Fargo just upgraded with a $387 target. Google is quietly building the AI infrastructure moat while everyone stares at the GPU shortage narrative. $Alphabet(GOOGL.US) $Alphabet - C(GOOG.US) 

While the market is still debating who'll become the next AI winner, NVIDIA CEO Jensen Huang has already given one of his own answers. He's called $Nebius(NBIS.US) and $Coreweave(CRWV.US) "World-Class AI Clouds." That's not just a passing compliment — it sits on top of a series of large-scale partnerships and capital commitments already underway. Start with $Nebius(NBIS.US). One of the most closely watched developments around Nebius right now is its $27 billion AI cloud partnership with Meta. At the same time, the company is rolling out a 5GW-scale collaboration with NVIDIA — and NVIDIA itself has invested $2 billion into Nebius. For the AI infrastructure space, customers, compute, and capital are often the three most critical variables, and Nebius has secured backing on all three at once. Now $Coreweave(CRWV.US). CoreWeave has become one of the most talked-about names in AI cloud over the past few years. The company struck a multi-billion-dollar cloud services partnership with Anthropic, and signed a $21 billion cloud services agreement with Meta. Much like with Nebius, NVIDIA has likewise invested $2 billion into CoreWeave. Looking at the partner lists — Meta, Anthropic, NVIDIA — each is one of the most important players in today's AI value chain. That also means the links between AI model companies, AI platform companies, and AI infrastructure providers are getting tighter and tighter. Worth noting: over the past few years, the market focused more on the model layer and the application layer. But as training scale keeps expanding and inference demand grows rapidly, the importance of compute, data centers, power supply, and cloud infrastructure keeps rising. And what NBIS and CRWV have in common is that they're both deeply involved in this round of AI infrastructure expansion. When NVIDIA pours billions of dollars of capital into both companies and keeps pushing the partnerships forward, the market naturally starts to re-assess where these AI cloud platforms sit in the value chain ahead. AI competition may not just be a contest between models. What more and more capital is starting to watch is the infrastructure network running behind those models. And in that space, NBIS and CRWV have already become names too big to ignore.

🚨 This is big, and a lot of people are reading it as just another green day. It is not. Nvidia (NVDA) ripped more than 6% and Arm (ARM) ran almost 16% in a single session. Here is what actually happened: Nvidia is pushing deeper into PCs with a new lineup of AI chips, and the new superchip is aimed straight at Intel and AMD. Look, that is Nvidia walking into the CPU conversation. For years the story was GPUs for training. Now they want a piece of the chip inside your laptop too. Why did Arm fly 16%? Because that PC push runs on Arm-based designs. When Nvidia expands the tent, Arm collects rent on the architecture. That is the trade the market made today. My take: I think this is the market repricing Nvidia from "the AI training company" into "the company that wants every compute socket." That is a far bigger story. One honest warning: a 16% day on ARM is enormous. Moves like this round-trip fast if the product timeline slips or the launch underdelivers. I am bullish on the direction, not on chasing a 16% candle. 📈

$Circle(CRCL.US) down again today. Value trap or buying opportunity?🤔

NVIDIA × Microsoft × Arm Speak Out in Unison: The PC Industry Is About to Change!

NVDA only -1% while MRVL -9% and AAOI -17%. red days are when you find out which names the market actually trusts 👑