Semiconductors

BIRENTECH

Deep Research

HUAWEI

QCOM

NVDA

AMDL

NVDL

07788

07388

NVDY

NVDD

NVDX

NVDQ

301269

00981

HSMD

688981

688802

09903

ASML

On Jan 2, 2026, $BIREN TECH(06082.HK) debuted on HKEX, with the IPO priced at the top end at HK$19.60. The stock opened up 82.14%; intraday mkt cap briefly topped HK$100bn, and it closed at about HK$82.5bn.The retail tranche was oversubscribed 2,347x, highlighting a strong retail bid. Sentiment was buoyed by its scarcity as the first GPU company listed in Hong Kong.The 'domestic $NVIDIA(NVDA.US)' label further stoked buying as investors chased a China Nvidia proxy. But setting aside the aura...

Huawei

Qualcomm

NVIDIA

GraniteShares 2x Long AMD Daily ETF

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

EMPYREAN

SMIC

SMIC HK SDR 5to1

MetaX

Taiwan Semiconductor

ILUVATAR COREX

BIREN TECH

NVIDIA Corporation

Biren: China's NVDA—How Capable Is It?

Today’s Key News Recap

INTC

DXYZ

MART

AVGO

MSFT

OpenAI

04335

09992

HPPD

0507 | Dolphin Research Focus: 🐬 Macro/Industry 1) Iran's Foreign Ministry spokesperson Baghaei confirmed it is still reviewing a U.S. peace proposal relayed via Pakistan, which includes a 14-point ceasefire plan, and has not formally responded. Tehran plans to feed back its comments through Islamabad once the review is complete.Iran says the proposal contains unacceptable provisions. Talks at this stage focus only on ending hostilities and do not involve the nuclear file.Washington has sent upbeat signals, with Trump saying the two sides could reach a deal soon. Tehran dismissed the media hype as false, emphasized that negotiations must be grounded in good faith, and noted that core differences remain, leaving the outlook uncertain...

Corning

Intel

Destiny Tech100

Allianzim US Large Cap Buffer10 Mar ETF

Broadcom

Microsoft

INTEL-T

POP MART

POP MART HK SDR 20to1

Duan Yongping adds to Pop Mart; OpenAI leads 5 tech giants to launch MRC｜Daily News Recap

GOOG

GOOGL

AMZN

UBER

SHOP

GGLS

GGLL

May 6 | Dolphin Research Focus: Macro/Industry. The US SEC has proposed allowing listed companies to voluntarily file semiannual reports instead of quarterly reports, reducing periodic disclosures from four times a year to two. 🐬Companies could continue using Form 10-Q or switch to a new Form 10-S for half-year reporting. The proposal now enters a 60-day comment period and would take effect once adopted.The aim is to ease compliance burdens, curb short-termism among management, and support long-term planning. However, lower transparency and delayed data could weaken price discovery and exacerbate information asymmetry...

Alphabet - C

Alphabet

Disney

Amazon

AppLovin

Meta Platforms

Uber Tech

Unity Software

ServiceNow

Shopify 

Direxion Daily Googl Bear 1x Shares

Direxion Daily GOOGL Bull 2X Shares

Anthropic inks multi-bn compute pact with GOOGL; cloud chips ignite QCOM AI rally | Daily News Recap

Conference Minutes

GPUS

GPUS-D

Below is Dolphin Research's Trans of AMD's FY26 Q1 earnings call. For our analysis, see 'CPU in Overdrive, Helios Near, Is AMD Finally Breaking Through?'.I. Key highlights from the print. 1) Shareholder returns: repurchased 1.1 mn shares this quarter, returning $221 mn to shareholders. $9.2 bn remained under the buyback authorization at quarter-end.2) Outlook: Q2 FY26 revenue guided to approx. $11.2 bn (+/- $0.3 bn). Implies a range of $10.9–$11.5 bn...

Hyperscale Data

HYPERSCALE DATA INC 13.00%CUM RED PER PREF STK SER D USD25

AMD (Trans): CPU/GPU mix converging to 1:1; server CPU TAM raised to 120bn

Financial Analysis

AMD reported its Q1 2026 results after the U.S. market close on May 6 (Beijing time). The quarter covered the period ended Mar 2026. Key takeaways:1) Overall results: $AMD(AMD.US) delivered revenue of $10.25bn (+37.8% YoY), beating market est. of $9.9bn. Growth was led by Data Center and Client.GAAP GPM was 52.8%. It expanded 260bps YoY...

CPUs on a tear, Helios near—Is AMD finally turning the corner?

AMD 1Q26 First Take: A solid print, with a revenue beat driven by server CPUs.AI GPU (MI355) was soft, down slightly QoQ, pressured by revenue adjustments in China. Versus the recent AI GPU trajectory, the market is more focused on the upcoming MI450 family.AMD has signed collaborations with OpenAI and Meta, and MI450 will shift delivery from a single-chip model to rack-scale clusters. Beyond the quarter, guidance was strong.AMD guides next-quarter revenue of $10.9–11.5bn (+6–12% QoQ), topping the Street at ~$10.5bn; non-GAAP GPM is guided to ~56% (vs. 55.3% consensus). The expected beat next quarter is mainly driven by server CPUs.Dolphin Research estimates server CPU and related revenue could reach ~$3.8bn, up ~15% QoQ. Overall, AMD has entered an upswing.The recent share rally is largely powered by the server CPU cycle. The market’s original focus was on MI450 ramping in 2H, as AMD transitions from chip-level to system-level delivery, keeping 1H expectations muted.With model workloads shifting from training to inference, the importance of server CPUs has become more pronounced, pulling forward upside in results. Price increases and upgrades in server CPUs have laid the groundwork for full-year growth.If MI450 ramps and ships smoothly, it should bring incremental orders.A dual-engine AI stack of 'CPU+GPU' opens a larger upside for AMD. $AMD(AMD.US)

Meta/Facebook

The following is a transcript of the FY26Q1 earnings call for $Meta Platforms(META.US), compiled by Dolphin Research. For our earnings take, please see '《单腿走路...》'.

Meta (Trans): AI LT vision is not productivity tools, but broad empowerment of everyday users.

TSMC

AAPL

TSMC reported Q1 2026 results (quarter ended Mar 2026) on Apr 16, 2026 Beijing time, before the US market open. Key takeaways: 1) Revenue.

Apple

TSM: AI's Undisputed Leader — Who Can Challenge It?

TSMG

TSMX

TSM 1Q26 First Take: Another solid print, with topline growth largely foreshadowed by the monthly ops data.Revenue came in at $35.9bn, above the high end of guide ($35.8bn), aided partly by FX tailwinds from USD strength vs. TWD. On a TWD basis, revenue rose 8.4% QoQ, implying an even stronger underlying performance. The more consequential takeaways this quarter are GPM, capex and forward guidance.These will drive investor focus into the back half. ① GPM: GPM reached 66.2%, near the raised buy-side bar (66–66.5%), driven by better ASPs and lower unit costs as scale builds.Management guided next-quarter GPM to 65.5–67.5%, broadly in line with the revised buy-side range (66–66.5%). The shift of AI chips from 5nm to 3nm should continue to lift blended ASPs and margin. ② Capex: Capex was $11.1bn in the quarter.With the 2026 capex plan already raised to $52–56bn, implied capex for the remaining three quarters is $40.9–44.9bn. Spend is back-half weighted at an Avg. $13–15bn per quarter, consistent with ASML’s full-year guide calling for a stronger 2H. ③ Outlook: Next-quarter revenue is guided to $39.0–40.2bn, above the raised street view (~$38.8bn), underscoring smooth migration of AI workloads to 3nm.For 2026, management lifted revenue growth to 30%+ (from ~30%), signaling confidence and aligning with mainstream institutional expectations. Overall, TSM delivered another strong set of results.Revenue hit a new high while GPM stepped up to 66%. Even after consensus moved higher, the company still offered above-consensus quarterly guidance. Within the current AI silicon stack, TSM’s lead in technology and capacity remains clear, giving it pricing and allocation leverage with downstream customers such as NVDA, GOOGL and AMD.It is positioned as the ‘steady and highly profitable’ winner of this AI capex cycle. For more, follow Dolphin Research’s detailed takeaways and Trans. $Taiwan Semiconductor(TSM.US) $Leverage Shares 2X Long TSM Daily ETF(TSMG.US) $Direxion Daily TSM Bull 2X Shares(TSMX.US)

Leverage Shares 2X Long TSM Daily ETF

Direxion Daily TSM Bull 2X Shares

ASML Holding NV

09988

BABA

89988

002050

02050

01810

81810

HXXD

XIACY

HBBD

09868

XPEV

0323 | Dolphin Focus. Macro/Industry.1) On Mar. 21 (local time), Trump issued a 48-hour ultimatum to Iran to fully open the Strait of Hormuz or face strikes on its power plants. Iran responded that if its power facilities are attacked, it would shut the strait entirely.The Middle East conflict is a direct shock to the global energy supply chain. Higher oil prices will lift inflation, forcing the Fed to keep rates higher for longer and compressing growth-stock valuations.Gold's safe-haven appeal is being offset near term by rate expectations. Profit-taking after the prior rally has triggered technical selling, magnifying the decline...

BABA-W

Alibaba

BABA-WR

Sanhua

SANHUA

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

Alibaba HK SDR 5to1

XPENG-W

XPeng

HK & A-Shares Rout; Gold Hammered | Daily News Recap---

Alpha Line gives Strong Buy rating to AMD, raises 2030 server CPU TAM forecast to $120 billion

UBS Raises AMD Price Target to $670

Tactive Advisors LLC Increases AMD Stake by 19.6%, Analysts Raise Target Price to $485

Rackspace and AMD sign agreement to deploy 30MW AI computing power to address data sovereignty

Citi Upgrades AMD to Buy Due to Huge Potential in Meta GPU Sales

AMD showcases $1,499 mini PC running AI, comparing costs with expensive Nvidia cloud services

Samsung and AMD Discuss Foundry Deal, Mass Production of CPUs Expected in 2028

Rackspace and AMD Sign Agreement to Deploy 30 MW of AI Computing

AMD Launches Ryzen AI Halo at $3,999 to Challenge NVIDIA and Apple

AMD CEO Su in MIT Speech Emphasizes AI Cannot Replace Human Judgment and Responsibility

Citi Upgrades AMD to Buy, Raises Price Target to $575

Bank of America Global Research Raises AMD Price Target to $560 from $500

Institutional Adjustments to AMD Holdings: One Fund Cuts 20%, Others Increase Stakes as Analysts Raise Ratings

AMD Announces £2 Billion Investment Over Five Years to Accelerate UK AI Innovation and Infrastructure

Tensorwave Completes $350 Million Series B Financing Led by AMD and Magna Capital

AMD's Server Processor Share Rises to 33.2% in Q1 2026 Amid Strong Growth

AMD Pledges Up to £2 Billion in UK to Accelerate AI Innovation and Research

Multiple Institutions Upgrade AMD Rating and Price Targets as Agentic AI Drives CPU Growth

Institutions Increase AMD Holdings While Executives Sell Over $19M Shares Causing Short-Term Pressure

AMD Unveils Helios AI System Specs at Computex to Compete with Nvidia

Scage Future

Pulsenmore

Sky Quarry

Icecure Medical

Star Fashion Culture

Cuprina

Nuvectis Pharma

WINTERGREEN ACQUISITION CORP. COM USD0.0001(S/R)

Boxlight

Opendoor Tech Series A - CW26

Advanced Micro Devices, Inc. (AMD.US) Q1 2026 Earnings Conference Call

Advanced Micro Devices, Inc. (AMD.US) Q4 2025 and Full Year Earnings Conference Call

Advanced Micro Devices, Inc. (AMD.US) Q3 2025 Earnings Conference Call

Advanced Micro Devices, Inc. (AMD.US) Q2 2025 Earnings Conference Call

Advanced Micro Devices, Inc. (AMD.US) Q1 2025 Earnings Conference Call

Advanced Micro Devices, Inc. (AMD.US) Q4 2024 and Full Year Earnings Conference Call

AMD (Advanced Micro Devices, Inc.) Q3 2024 Earnings Conference Call in the United States

AMDY

AMDD

AMUU

AMDG

DAMD

AMDW

AMD has evolved from a pure chip manufacturer into a platform company by expanding into software, cloud infrastructure, and strategic partnerships. This shift positions it for a larger role in the AI economy. Additionally, an analyst maintains a neutral stance on NVDA, noting strong execution but limited upside at current prices.

- Advanced Micro Devices (AMD) is shifting from being primarily a chip manufacturer for artificial intelligence (AI) to expanding its role in software and cloud infrastructure.  
- Over the past two years, AMD has formed strategic partnerships that position it as a platform company within the AI economy.  
- Despite a strong stock performance this year, concerns exist regarding limited potential for further growth at current price levels.

AMD(AMD.US)

AMD Is More Than a Chip Company Now

U.S. stock night market fluctuations: AMD rose 3.15% in night trading, UBS significantly raised the target price to $670

AMD recognized as top AI server CPU vendor by Gartner due to EPYC's capabilities and enterprise AI alignment.

Better Buy After the Chip Sell-Off: Nvidia or AMD?

'Here it Comes,' Says Investor About AMD Stock

GIGABYTE's Ultimate Summer Upgrade Guide: Unleash Your Dream Build During Our Massive Mid-Summer Sales Event

19:17 ETGIGABYTE's Ultimate Summer Upgrade Guide: Unleash Your Dream Build During Our Massive Mid-Summer Sales Event

2 high-growth AI stocks I'd be buying instead of SpaceX

UBS Raises AMD and ARM Stock Price Targets amid Agentic AI-Driven CPU Demand