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As computer RAM and NAND prices continue to go through the roof, other PC components are feeling the effects besides memory and solid-state storage. Is open-source AI the key to cybersecurity in the age of threats powered by LLMs, tech companies think so. Starring Sarah Lane, Robb Dunewood, Nate Lanxon, Roger Chang, Joe. To read the show notes click here! Support the show on Patreon by becoming a supporter!
One of the defining market stories of the past 12 months has not been AI chips that compute, but the chips that remember. Equity analyst Shan Rui Yeo explains how memory works, from DRAM and NAND to high bandwidth memory, and how an industry that destroyed wealth for four decades became disciplined after consolidating to three players in 2013. He then walks through what changed: AI inference has made memory the key bottleneck, memory content is climbing with each new generation of GPUs, and new supply takes three to four years to build. With prices up sharply and customers signing long-term agreements, Part 1 of this three-part conversation lands on a commodity industry whose business model is changing in real time. Key Takeaways Memory is a commodity with a three-to-four-year supply lag, which is why the cycle has always been difficult. Consolidation to three players in 2013 turned four decades of wealth destruction into at least 15% returns on capital through the cycles. In AI inference, memory bandwidth sets the speed of token generation, making memory the key bottleneck. NVIDIA's Rubin GPU carries 384 GB of DRAM, the equivalent of 32 iPhones per GPU, or 160 million iPhones across five million GPUs. HBM consumes three times the wafer capacity of standard DRAM (four times with HBM4) and is forecast to absorb 30% of DRAM wafers by 2027. DRAM contract prices are up roughly 200% year to date and 400 to 500% year over year, and price increases are reaching phones, laptops, and consoles. Customers are signing three-to-five-year agreements with prepayments, which could support a re-rating of memory companies. Companies Mentioned: Samsung Electronics, SK Hynix, Micron, NVIDIA, Intel, Texas Instruments, Apple, Nintendo Host: Rob Campbell, CFA, Institutional Portfolio Manager Guest: Shan Rui Yeo, CFA, Equity Analyst This episode is available for download anywhere you get your podcasts. Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit us at: https://www.youtube.com/@MawerInvestment https://www.mawer.com https://www.linkedin.com/company/mawer-investment-management/ https://www.instagram.com/mawerinvestmentmanagement/ #ArtOfBoring #MawerInvestmentManagement #MawerInvestment #Podcasts
The Pirate Street Journal takes a sharp look at business through the category design lens, and this episode delivers three stories that reveal how the decisions made today will define economic winners and losers for decades. From data center legislation in New York to Apple raising prices and a Costco cashier becoming a millionaire, each story points to the same underlying truth: the category you choose matters more than almost anything else. Whether you are a governor, a tech executive, or an hourly worker, picking the right side of the S-curve is everything. This is just one of the topics that Pirates Christopher Lochhead, Eddie Yoon and Bri Clark discuss on this episode of Pirate Street Journal. Each week, the Category Pirates pick three headlines worth paying attention to and break down the category underneath. You're listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let's go. New York Said No to Data Centers and It Will Pay the Price On July 10th, New York became the first state in America to ban new data centers, with Governor Kathy Hochul signing a freeze on permits for hyperscale facilities for up to a full year. She cited higher power bills, water use, and grid strain as her reasons. Meanwhile, legislation is already being introduced to extend that freeze to three years. This is happening at the same time a study revealed New York has lost $11 billion in taxes due to millionaires leaving the state, and the city recently implemented rent control that has effectively killed new housing development. Compare that to Boise, Idaho, where four people started a memory chip company called Micron in the basement of a dental office back in 1978. Today, Micron employs more than 6,000 people, stands as the third largest private employer in Idaho, and just committed to a $15 billion expansion, the largest private investment in the state’s history. One town said yes 48 years ago and is still cashing that check. The next Boise could be anywhere someone decides to welcome the future, including, perhaps, the Big Island of Hawaii. The smarter move for any governor would not be a blanket freeze but a proof of concept, a small data center pilot that generates real-world data instead of relying on academic spreadsheets. Governors today have more power and agency than they may realize, and the choice between welcoming AI infrastructure or blocking it is really a choice between the future and the past. Apple’s Price Hikes Signal the Return of On-Premise AI Apple recently raised prices across its lineup, with the Mac Studio jumping $1,300 and even entry-level MacBooks climbing $100. Tim Cook called the memory shortage a hundred-year flood, and he is not entirely wrong. DRAM and NAND prices surged roughly 60% last quarter and are projected to climb another 13 to 18% this quarter, with some analysts expecting memory costs to double again before the cycle ends. The AI hardware boom is still in its early innings, and anyone due for an upgrade should know that prices are only heading one direction. But the deeper story here is about data ownership and the return of on-premise computing. When businesses send their data into cloud-based AI platforms, those platforms can see everything. The controversy around Anthropic launching a product that competed directly with Cursor, a development tool built on top of Anthropic’s cloud, illustrated exactly why enterprises cannot afford to hand over their intellectual capital. Goldman Sachs, Merck, Citibank, none of them can afford to have an AI provider see their most sensitive work and potentially act on it. Apple’s privacy-first approach and its push to run more AI directly on device is not just a marketing position. It is a strategic response to a real problem. As LLMs commoditize, Apple is positioning itself as the gateway that routes your queries to the right model for the right task, while keeping your data on your device and out of someone else’s servers. Dell is also worth watching here, as its infrastructure business is growing at 40% while its consumer hardware grows at just 5%, a clear signal that the on-prem shift is accelerating. The Costco Cashier Proves Category Kings Build Millionaires The Wall Street Journal ran a story about a Costco cashier who makes $32.90 an hour, started at $5.85 back when it was still Price Club, owns a three-bedroom home with a pool, and has a 401(k) worth over one million dollars. He is not an outlier. Costco’s CFO confirmed that many thousands of their hourly workers have crossed the seven-figure mark in retirement savings, and the company’s annual turnover sits at just 7% compared to a retail industry average of 60%. This story is really about category design in action. Costco became a category king in retail by capping its markups at 15% when every other retailer was charging 35 to 40%, offering generous health benefits even to part-timers, and building a culture that retains people for decades. When you combine low turnover with a growing stock, mission-driven leadership, and a business model that serves customers, employees, and investors simultaneously, you get the kind of compounding wealth that turns a cashier into a millionaire. The lesson applies whether you are scanning groceries or launching a startup. The category you pick matters more than the salary on your offer letter. Finding a company on the left side of the S-curve, one that treats its customers, its people, and its investors well while still growing, is the real career decision. The title and the paycheck matter far less than whether the category you join is heading toward abundance or quietly flatlining on the way down. To hear about all the topics in this week's The Pirate Street Journal, download and listen to this episode. You can also read more Pirate Street Journal entries in the Category Pirates newsletter. We hope you enjoyed this episode of Christopher Lochhead: Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, X (formerly Twitter), LinkedIn, and subscribe on Apple Podcast / Spotify!
If you've been lucky enough to hear Dave play live recently, you will have heard an old favourite tune enthusiastically pulling back the curtains, blinking at the sun, having a good stretch, and returning to the fray for '26 in majestic, remixed fashion. Yes, the much-loved 'Nightfalls' is back.nnDave's love affair with the haunting vocal refrain ("And at sunrise / And at sunset / But when night falls / the music") from The Ananda Project's 'Cascades of Colour' has lasted for a quarter of a century, initially as a centrepiece of his much-loved Cape Town mix for Global Underground from 2000.nnIn 2016, appreciative of the exposure Dave had given their track, The Ananda Project returned the favour, giving Dave sample clearance to use the vocal – and 'Nightfalls' was born, making a right noise all its own as Selador's 50th release.nnAnd now…that haunting yet uplifting, inescapable vocal hook is back, with a re-fashioned 'Nightfalls' a focal point of Dave's eagerly anticipated album. Dave has, of course, recorded a new version himself – deep, breaks-driven, chilled yet ever so slightly menacing.nnA trio of handpicked remixers bring us glorious variety with their reinterpretations.nnElif's seriously atmospheric take guarantees transcendental dancefloor epiphanies.nnDilby's heads down throbber is pure energy, the vocal atop a sumptuous sonic stew.nnCioz is pure melodic wonk, a funky piano line underpinning a riot of riffs. Team Selador – Night People
If you've been lucky enough to hear Dave play live recently, you will have heard an old favourite tune enthusiastically pulling back the curtains, blinking at the sun, having a good stretch, and returning to the fray for '26 in majestic, remixed fashion. Yes, the much-loved 'Nightfalls' is back.nnDave's love affair with the haunting vocal refrain ("And at sunrise / And at sunset / But when night falls / the music") from The Ananda Project's 'Cascades of Colour' has lasted for a quarter of a century, initially as a centrepiece of his much-loved Cape Town mix for Global Underground from 2000.nnIn 2016, appreciative of the exposure Dave had given their track, The Ananda Project returned the favour, giving Dave sample clearance to use the vocal – and 'Nightfalls' was born, making a right noise all its own as Selador's 50th release.nnAnd now…that haunting yet uplifting, inescapable vocal hook is back, with a re-fashioned 'Nightfalls' a focal point of Dave's eagerly anticipated album. Dave has, of course, recorded a new version himself – deep, breaks-driven, chilled yet ever so slightly menacing.nnA trio of handpicked remixers bring us glorious variety with their reinterpretations.nnElif's seriously atmospheric take guarantees transcendental dancefloor epiphanies.nnDilby's heads down throbber is pure energy, the vocal atop a sumptuous sonic stew.nnCioz is pure melodic wonk, a funky piano line underpinning a riot of riffs. Team Selador – Night People
If you've been lucky enough to hear Dave play live recently, you will have heard an old favourite tune enthusiastically pulling back the curtains, blinking at the sun, having a good stretch, and returning to the fray for '26 in majestic, remixed fashion. Yes, the much-loved 'Nightfalls' is back.nnDave's love affair with the haunting vocal refrain ("And at sunrise / And at sunset / But when night falls / the music") from The Ananda Project's 'Cascades of Colour' has lasted for a quarter of a century, initially as a centrepiece of his much-loved Cape Town mix for Global Underground from 2000.nnIn 2016, appreciative of the exposure Dave had given their track, The Ananda Project returned the favour, giving Dave sample clearance to use the vocal – and 'Nightfalls' was born, making a right noise all its own as Selador's 50th release.nnAnd now…that haunting yet uplifting, inescapable vocal hook is back, with a re-fashioned 'Nightfalls' a focal point of Dave's eagerly anticipated album. Dave has, of course, recorded a new version himself – deep, breaks-driven, chilled yet ever so slightly menacing.nnA trio of handpicked remixers bring us glorious variety with their reinterpretations.nnElif's seriously atmospheric take guarantees transcendental dancefloor epiphanies.nnDilby's heads down throbber is pure energy, the vocal atop a sumptuous sonic stew.nnCioz is pure melodic wonk, a funky piano line underpinning a riot of riffs. Team Selador – Night People
If you've been lucky enough to hear Dave play live recently, you will have heard an old favourite tune enthusiastically pulling back the curtains, blinking at the sun, having a good stretch, and returning to the fray for '26 in majestic, remixed fashion. Yes, the much-loved 'Nightfalls' is back.nnDave's love affair with the haunting vocal refrain ("And at sunrise / And at sunset / But when night falls / the music") from The Ananda Project's 'Cascades of Colour' has lasted for a quarter of a century, initially as a centrepiece of his much-loved Cape Town mix for Global Underground from 2000.nnIn 2016, appreciative of the exposure Dave had given their track, The Ananda Project returned the favour, giving Dave sample clearance to use the vocal – and 'Nightfalls' was born, making a right noise all its own as Selador's 50th release.nnAnd now…that haunting yet uplifting, inescapable vocal hook is back, with a re-fashioned 'Nightfalls' a focal point of Dave's eagerly anticipated album. Dave has, of course, recorded a new version himself – deep, breaks-driven, chilled yet ever so slightly menacing.nnA trio of handpicked remixers bring us glorious variety with their reinterpretations.nnElif's seriously atmospheric take guarantees transcendental dancefloor epiphanies.nnDilby's heads down throbber is pure energy, the vocal atop a sumptuous sonic stew.nnCioz is pure melodic wonk, a funky piano line underpinning a riot of riffs. Team Selador – Night People
Micron Technology is benefiting from rising AI server demand for DRAM, NAND, and high bandwidth memory, which has improved pricing and mix since 2024. Stock splits increase share count and reduce price per share without changing market capitalization, cash, or operating performance, but can improve liquidity and employee equity access. Nvidia completed a 10-for-1 split in June 2024 and joined the Dow in 2024, while Broadcom executed a 10-for-1 split in July 2024; Alphabet and Amazon completed 20-for-1 splits in 2022, and Apple and Tesla split 4-for-1 in 2020 and 3-for-1 in 2022, respectively. If Micron considers a split, its board would evaluate nominal price, trading volume, employee plan design, and timing alongside earnings or capital returns. Micron's capital plans, including a Boise DRAM fab and a long-term project in Clay, New York, depend on cash flow, incentives, and debt markets rather than share price. Index effects matter primarily for the Dow's price-weighted structure, while the S&P 500 and Nasdaq 100 are market-cap weighted and less sensitive to nominal prices.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.
On pense souvent que les puces les plus avancées reposent d'abord sur des machines de gravure ultramodernes. Mais leur fabrication dépend aussi de matières premières beaucoup plus discrètes. Parmi elles : du dioxyde de carbone industriel de très haute pureté, issu notamment du raffinage du pétrole et du traitement du gaz naturel.Dans les salles blanches, ce CO2 sert à nettoyer les équipements, à contrôler certaines réactions chimiques pendant la lithographie et à accompagner la planarisation, une opération qui permet d'aplanir les différentes couches d'une puce. Il peut aussi être utilisé sous forme supercritique, c'est-à-dire dans un état intermédiaire entre le liquide et le gaz, afin de nettoyer des structures de quelques nanomètres sans les endommager. Le niveau de pureté exigé atteint au minimum 99,999 %, bien au-delà du CO2 utilisé dans les boissons gazeuses. Or, ce produit n'est fabriqué que sur un nombre limité de sites. Quand les raffineries sud-coréennes ralentissent leur activité en raison des incertitudes sur l'approvisionnement en pétrole brut venu du Moyen-Orient, les usines de Samsung et SK Hynix se retrouvent directement sous pression. Selon le média spécialisé The Elec, Samsung consomme chaque mois entre 1 800 et 2 000 tonnes de CO2 pour ses activités liées aux mémoires et aux puces logiques. SK Hynix en utilise entre 600 et 700 tonnes. Depuis janvier 2026, le prix du CO2 liquide a augmenté de 20 % en Corée du Sud. Les deux groupes ont donc commencé à constituer des stocks.L'enjeu dépasse largement le pays. La Corée du Sud produit environ 80 % de la mémoire DRAM mondiale et une part importante de la mémoire flash NAND. Une pénurie locale pourrait donc affecter l'ensemble de l'industrie électronique. Ce risque rappelle d'autres alertes. En 2022, la guerre en Ukraine avait révélé que 70 % du néon de qualité semi-conducteur provenait de deux usines ukrainiennes. Début 2026, des tensions sur l'hélium avaient suscité les mêmes inquiétudes. Pour l'Europe, la leçon est claire. Le European Chips Act mobilise 43 milliards d'euros pour développer des usines, notamment à Dresde et à Crolles. Mais construire des fabs ne suffit pas : encore faut-il sécuriser tous les gaz et matériaux indispensables à leur fonctionnement. Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.
Chinese memory-chip-related stocks surged on Monday, led by Shenzhen Longsys Electronics Co Ltd, partly as investors reacted to the impending US listing of South Korean memory chip giant SK Hynix.周一，存储芯片板块相关个股全线大涨，深圳江波龙电子股份有限公司领涨，部分原因是投资者对韩国存储芯片巨头 SK 海力士即将赴美上市作出提前反应。Longsys jumped as much as 13 percent in early trading before consolidating gains to close at 681.8 yuan ($100) in Shenzhen. Other memory chip stocks followed suit. CECport hit the daily upside limit, while companies such as JCET advanced.江波龙早盘最高涨幅达 13%，随后涨幅收窄，最终在深交所收报 681.8 元（折合 100 美元）。其余存储芯片个股同步走强，华天科技封住涨停，长电科技等企业股价走高。The sector's momentum was amplified by SK Hynix's upcoming Nasdaq debut. The chipmaker is set to debut on Friday, raising approximately $29 billion in what could be the largest-ever US IPO by a foreign company, Bloomberg reported.彭博社消息，SK 海力士即将登陆纳斯达克进一步推升板块热度。这家芯片企业定于本周五挂牌上市，募资规模约 290 亿美元，有望创下境外企业赴美 IPO 融资规模历史新高。The listing, to be conducted through American Depositary Receipts, or ADRs, under the ticker "SKHY," aims to bridge the valuation gap with US rival Micron Technology.本次上市将以美国存托凭证（ADR）形式开展，股票代码 SKHY，此举意在缩小其与美国竞品美光科技之间的估值差距。The timing coincides with explosive growth in the memory chip market. Market research firm Gartner said global chip sales are expected to approach 9 trillion yuan in 2026, up 64 percent year-on-year, with memory chip sales estimated at around 4.3 trillion yuan.此次上市恰逢存储芯片市场爆发式增长周期。市场研究机构高德纳表示，2026 年全球芯片销售额有望接近 9 万亿元，同比增长 64%，其中存储芯片市场规模约 4.3 万亿元。Market researcher TrendForce's latest memory pricing survey said the DRAM market will see extremely tight supply in the third quarter, with contract prices expected to rise 13 to 18 percent quarter-on-quarter. NAND Flash contract prices are likely to increase 10 to 15 percent quarter-on-quarter.集邦咨询最新存储芯片报价调研显示，三季度 DRAM 市场供给将极度紧张，合约价格环比预计上涨 13% 至 18%；NAND 闪存合约价格环比涨幅预计在 10% 至 15% 区间。DRAM and NAND are key memory chips widely used in smartphones, PCs, tablets and other digital products.DRAM 与 NAND 是核心存储芯片，广泛应用于智能手机、个人电脑、平板及各类数码产品。While artificial intelligence inference and data center deployments continue to drive demand, price increases have moderated from previous quarters as consumer PC and smartphone customers reach their affordability limits, TrendForce said.集邦咨询称，人工智能推理与数据中心建设持续拉动需求，但消费级电脑、手机市场购买力见顶，芯片涨价幅度相较前几个季度有所放缓。"AI remains the core driver," TrendForce added. Memory suppliers are shifting capacity toward higher-margin server products, constraining supply for consumer segments and keeping prices elevated even as PC and smartphone demand weakens.集邦咨询补充道：“人工智能仍是核心增长动力。” 存储厂商正将产能转向利润率更高的服务器芯片产品，压缩消费级芯片供给，即便电脑、手机需求走弱，芯片价格仍维持高位。The global supply shortage and surging AI demand for high-bandwidth memory have fueled the memory supercycle. Meanwhile, China's domestic memory industry is making strides, though a gap with Western leaders persists, experts said.专家表示，全球供给短缺叠加人工智能对高带宽存储芯片需求激增，催生存储超级上行周期；国内存储产业虽取得长足进步，但与海外头部企业仍存在差距。CXMT Corp, China's largest manufacturer of DRAM chips, is expected to launch its IPO later this year, while the listing plan of Yangtze Memory Technologies, China's only company capable of end-to-end 3D NAND flash chip manufacturing, has also received approval.国内最大 DRAM 厂商长鑫存储预计今年晚些时候启动 IPO；国内唯一具备全流程 3D NAND 闪存制造能力的长江存储，其上市方案也已获批。Shen Meng, director of Chanson & Co, a boutique investment bank, said market watchers are closely monitoring SK Hynix's Nasdaq performance as a potential reference for the two Chinese IPOs.精品投行香颂资本董事沈萌表示，市场密切关注 SK 海力士在纳斯达克的表现，将其作为上述两家国内存储企业上市的重要参考标的。Roger Sheng, vice-president of research at Gartner, said that Chinese memory chip firms have made significant progress, but there remains a significant gap in both advanced technologies and production capacities between Chinese memory leaders and their global counterparts, pointing to substantial room for expansion.高德纳研究副总裁盛凯表示，国内存储芯片企业已实现重大突破，但国内头部厂商与国际同行在先进技术、产能规模方面仍存在明显差距，产业发展提升空间广阔。surge /sɜːdʒ/v. 暴涨，激增semiconductor /ˌsemikənˈdʌktə(r)/n. 半导体capacity /kəˈpæsəti/n. 产能；容量valuation /ˌvæljuˈeɪʃn/n. 估值
Business and finance news from the Asia-Pacific. An artificial-intelligence bust, inflation and fiscal stress are among the most alarming threats to global prosperity at present, the Bank for International Settlements warned. In its annual report published on Sunday, the Basel-based institution cited those on a list of "pressure points" that currently "demand attention," with underlying financial vulnerabilities lurking that could amplify any shock. We speak to Oliver Shale, Investment Specialist at Ruffer. Plus - South Korea's Samsung Group and SK Group are poised to announce as much as 2,000 trillion won ($1.3 trillion) of investments over the next decade as part of President Lee Jae Myung's flagship industrial strategy, the Korea Economic Daily reported. The two groups are expected to unveil the package when their leaders present the plans at the presidential office on Monday, the newspaper said, without giving details of where it obtained the information. Samsung Electronics Co. and SK Hynix Inc. are each expected to build four to five semiconductor fabs in the Gwangju area, in the country's southwest, the newspaper said. Samsung is also expected to build chip packaging plants in South Chungcheong province while SK Hynix will expand NAND plants in North Chungcheong province, the newspaper added. Bloomberg TV hosts Shery Ahn and Paul Allen speak to Shaun Cochran, CITIC CLSA Head of Research.See omnystudio.com/listener for privacy information.
In this episode, Simon and Dan Foch break down the latest Micron earnings and what they reveal about the massive demand for AI infrastructure. We look at why higher DRAM and NAND prices matter beyond semiconductor stocks, how rising memory costs could flow through to consumer products like iPhones, laptops, gaming consoles and data centers, and whether Apple price hikes are an early sign of broader tech inflation. We also discuss the latest inflation pressures, including the impact of higher oil prices, and what these could mean for central banks and consumers. Plus, we dig into the BC and Government of Canada condo bailout, what it says about the state of the housing market, and whether policymakers are once again stepping in to soften the landing for real estate. Tickers of Stocks Discussed: MU, AAPL, NVDA, AMD, MSFT, GOOGL, AMZN, META Watch the full video on Our New Youtube Channel! Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Dan’s Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor Spotify - The Canadian Real Estate Investor Web player - The Canadian Real Estate Investor Asset Allocation ETFs | BMO Global Asset Management Sign up for Fiscal.ai for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.
Want the New iPhone 18 This September? Be Prepared to Pay More…. A Lot More The iPhone 18 is expected to be released in just a few months, and if current estimates are accurate, consumers could be facing some serious sticker shock. One of the biggest reasons is the ongoing battle for semiconductor components. The rapid buildout of AI data centers has created enormous demand for memory chips, and data center operators are willing to pay almost any price to secure supply. That is creating challenges for companies like Apple, which rely heavily on DRAM (dynamic random-access memory) and NAND flash storage. According to industry estimates, the cost of 12GB of DRAM used in the iPhone 17 was about $39. For the iPhone 18 Pro, that figure could rise to approximately $145. NAND flash storage costs are also expected to surge. The 256GB of flash storage that cost Apple around $13 in the iPhone 17 is projected to cost roughly $51 in the iPhone 18, an increase of nearly 300%. Apple may also introduce a redesigned camera system that could cost about 50% more than the cameras used in previous models, adding even more pressure to manufacturing costs. Apple currently earns an estimated gross margin of roughly 44% on the iPhone 17. If the company attempts to maintain those margins while absorbing these higher component costs, the price of a high-end iPhone 18 could climb to around $1,300 or more. The big questions are: Will Apple absorb some of these higher costs and accept lower profit margins? Or will consumers decide that the latest upgrade isn't worth the higher price and keep their current phones for another year? Either scenario could create headwinds for Apple's earnings. Lower margins would hurt profitability, while slower upgrade cycles could reduce unit sales. Both outcomes could put pressure on Apple's stock in the months ahead. Bad News: The Dollar Is Strong Again Some people may read that headline and think, "What's the problem? Isn't a strong dollar a good thing?" Not necessarily. A strong dollar sounds positive, but the reality is more complicated. The U.S. dollar is now at its strongest level since May 2025. While that may feel good on the surface, a stronger dollar can create challenges for the economy. When the dollar rises, American products become more expensive for the rest of the world to buy, which can worsen our trade deficit. At the same time, imported goods become cheaper for Americans. Consumers may enjoy lower prices on foreign products, but it also means more money flows overseas instead of supporting domestic businesses. Over the long term, that can weaken U.S. manufacturing, increase our reliance on imports, and contribute to growing debt levels. What's driving the dollar higher? Two major factors stand out. First, the new Federal Reserve leadership signaled a more hawkish stance at its most recent meeting. Nine of the 19 officials now expect at least one rate hike before year-end. Higher interest rates generally make the dollar more attractive to global investors. Second, the AI investment boom continues to fuel U.S. economic growth. However, the enormous capital required for AI infrastructure is leading companies to borrow heavily to finance those investments. This increased demand for capital competes with U.S. Treasury bonds for investor dollars, which could keep long-term interest rates elevated or even push them higher. The AI boom has already increased speculation and risk in the equity market. Now it may also be creating additional risks in the bond market. Wherever you're investing, make sure you understand the relationship between risk and reward before committing your capital Can Alphabet/Google Take Some of Nvidia's Market Share? Nvidia currently controls roughly 90% of the AI computing chip market. Whenever a company dominates an industry to that extent, it creates an opportunity for competitors to enter with comparable products at lower prices. That's exactly what Alphabet's Google is attempting to do with its artificial intelligence chips. Google originally developed its custom AI chips for internal use, but it quickly realized there was a much bigger opportunity. With demand for AI infrastructure exploding, Google is now producing more chips and making them available to outside customers. Nvidia CEO Jensen Huang has repeatedly stated, both publicly and privately, that increased competition will not have a meaningful impact on Nvidia's business. But what else can he say? Competition almost certainly will affect Nvidia to some degree. The company may eventually lose some market share and could be forced to lower chip prices to maintain its dominant position. Google has significant financial resources to support its AI ambitions. In western New York, for example, Google reportedly provided a $3.2 billion financial guarantee tied to the Lake Marina AI data center project. Nvidia has used similar strategies in the past to strengthen relationships with customers and partners. This type of financing does concern me. When you provide financing to a company that is also purchasing your products, you take on two risks. If that customer runs into financial trouble, you could lose both future product sales and repayment on the financing arrangement. I also suspect Nvidia has substantial leverage with many of its customers. Companies may worry that reducing purchases from Nvidia today could limit their access to future chip allocations if demand remains strong. Google isn't the only company challenging Nvidia. Competitors such as AMD, Broadcom, and newer entrants like Cerebras Systems are all looking for ways to gain a foothold in the rapidly growing AI chip market. Nvidia stock has delivered incredible returns over the past several years. The question investors should be asking is whether increasing competition and the possibility of future chip oversupply could eventually take some of the shine off Nvidia's valuation. The Dow's Alphabet Move Is a Sign of Weakness, Not Strength The Dow Jones is once again proving why it has become one of the most outdated and least useful stock market indexes in America. This week S&P Dow Jones Indices announced that Alphabet will be added to the Dow, replacing Verizon. The financial media is treating it like the Dow is finally modernizing itself for the AI era. I see it differently. This is not leadership. It is not vision. It is not smart index construction. It is the Dow doing what it has done for years: showing up late, after everyone else has already made the money. The Dow is supposed to represent the most important companies in the American economy. But unlike the S&P 500, it is not rules-based. There is no formula, no discipline, no objective threshold that decides who gets in and who gets kicked out. Instead, a committee at S&P Dow Jones decides when the index should change and which companies “feel right” for the list. That sounds harmless until you realize what it really means: the Dow is not a market index so much as a committee-curated museum exhibit that occasionally swaps out an old display piece for whatever has already become impossible to ignore. That is exactly what is happening with Alphabet. Google has been one of the most dominant businesses on earth for well over a decade. It has been central to digital advertising, cloud computing, mobile software, and now artificial intelligence. None of that is new. The AI spending boom did not start yesterday. The Magnificent Seven did not suddenly become important last week. These companies have been driving market returns, corporate profits, and capital spending for years. Yet only now does the Dow decide it needs more exposure to big tech? That is not being ahead of the curve. That is a lagging indicator pretending to be a benchmark. And the timing could not be more ridiculous. Instead of adding these companies before the market fully priced in their dominance, the Dow is adding them after the entire world has piled into the trade. After valuations expanded. After AI enthusiasm exploded. After mega-cap concentration became one of the biggest risks in the market. In other words, the Dow ignored the most important trend in the market for years and is now buying into it once the trade is crowded. The Dow will now hold five of the Magnificent Seven—Alphabet, Microsoft, Apple, Amazon, and Nvidia—which together will account for roughly 18% of the index. This is not modernization. That is panic buying in a suit. What makes it even more absurd is that the Dow still uses a price-weighted structure, which is one of the silliest relics in finance. A stock's influence in the index is determined by its share price, not by the actual size of the company or its economic importance. Think about how insane that is. In a supposedly elite index of America's biggest companies, weighting is still distorted by something as arbitrary as the sticker price of one share. A stock split can change a company's importance in the Dow more than a change in its business fundamentals. This also leads to more concentration with high priced stocks like Goldman Sachs accounting for roughly 13% of the entire index and Caterpillar making up around 12%. This compares to low priced stocks like Verizon or Nike which each only currently account for about 0.5% of the index. So now the Dow wants to have it both ways. It wants the credibility of owning AI and mega-cap tech leaders, but it wants to keep the same outdated structure and the same slow-moving committee process that made it miss the trend in the first place. It wants to look relevant without actually fixing what makes it irrelevant. Replacing Verizon with Alphabet may make the Dow look smarter for a headline or two, but it actually exposes the problem. The Dow did not identify the future. It waited until the future was obvious, then stapled it onto an old index and called it progress. The truth is the Dow has become a follower, not a leader. It reflects where the committee finally got comfortable going after the move already happened. And by adding more mega-cap tech exposure now, after years of delay, it may be doing exactly what bad investors do: chasing yesterday's winners while taking on tomorrow's risk. The Dow is not evolving. It is flailing. And every one of these late-stage reshuffles is a reminder that the most famous index in America may also be one of the least relevant. Fed Stress Test Confirms the Strength of U.S. Bank Balance Sheets U.S. banks once again came through the Federal Reserve's 2026 stress test looking structurally strong, even under an intentionally severe economic downturn scenario. The results continue to reinforce one of the most important post-financial-crisis themes: large banks today are built to withstand a shock that would have been destabilizing in prior cycles. The Fed's hypothetical scenario was deliberately harsh. It assumed a deep global recession with the U.S. economy contracting 4.6% and unemployment rising to around 10%. Housing prices would fall 30% from their current levels, the stock market would plunge 58% and there would be a 39% drop in commercial real estate prices. The framework is designed to test not just mild downturns, but a “worst plausible case” scenario that stresses bank balance sheets across multiple channels at once. Under that scenario, the Fed estimated cumulative losses across the largest 32 banks at roughly $700 billion, with the bulk coming from credit cards, corporate lending, and commercial real estate exposure. Despite those losses, all major institutions remained above required minimum capital levels. Capital ratios declined during the stress period, as expected, but stayed comfortably within regulatory buffers, underscoring how much capital has been built into the system since the 2008 financial crisis and subsequent regulatory reforms. What stands out this year is not just that banks passed, but the margin by which they did so. Even under simultaneous pressure from unemployment, real estate, and equity drawdowns, the system showed the ability to absorb losses while still maintaining lending capacity. That “lend-through-cycle” characteristic is one of the key goals of post-crisis regulation, and the results suggest it is functioning as intended. From an investor perspective, the more immediate implication is capital return. Passing the stress test is effectively the green light for banks to continue deploying excess capital back to shareholders. JPMorgan Chase unveiled a new $50 billion share repurchase program and said it will increase its quarterly dividend 10% to $1.65 per share, subject to board approval. Goldman Sachs and Wells Fargo increased their dividends 11% and Morgan Stanley boosted its payout by 15%. Importantly, the Federal Reserve did not materially tighten capital requirements in this round, which removes a potential headwind that some investors had been watching. Instead, capital rules remain broadly stable, allowing banks to operate with predictability in their capital planning. That stability is key, because it supports consistent buyback programs rather than volatile, stop-and-go capital return cycles. Taken together, the results reinforce a familiar but important conclusion: large U.S. banks today are not only capable of surviving severe macroeconomic stress, but they are doing so while generating enough earnings power to continue returning substantial capital through both dividends and buybacks. In a market where macro uncertainty remains elevated, that combination of resilience and shareholder yield continues to be a defining feature of the banking sector. What Is Quantum Computing All About? Quantum computing is the next big step in the evolution of computing, and there's no way around it: it's a complex subject. But it's also one of the most important technologies being developed today. If your son or daughter is in high school and unsure what they want to study in college, they may want to consider quantum physics, engineering, or computer science with a focus on quantum computing. Over the next decade, the world is going to need far more people who understand this field, whether that means working in quantum research labs, developing software, building hardware, or solving the many engineering problems that still stand in the way of commercial adoption. At its core, quantum computing is different from traditional computing because it uses quantum mechanics rather than classical binary logic. Today's computers rely on CPUs and GPUs that process information in bits or ones and zeros. Quantum computers use quantum processing units, or QPUs, powered by qubits. Qubits can behave in ways classical bits cannot, which gives quantum systems the potential to solve certain problems dramatically faster than even the most powerful computers we have today. There are currently four major approaches, or architectures, being used to build quantum computers: superconducting, neutral atoms, trapped ions, and photonics. Each has strengths and weaknesses, and no one yet knows which approach will ultimately dominate. But all of them are trying to achieve the same goal: building machines capable of solving problems that are effectively impossible for classical computers. That matters because the upside is enormous. Quantum computers could transform fields like drug discovery, materials science, logistics, finance, and artificial intelligence. They may also eventually be able to crack some of the encryption methods that protect today's digital world, which is one reason governments are taking the technology so seriously. It's not just a commercial race, it's increasingly a national security race as well. And that's where the geopolitical angle comes in. China has been heavily subsidizing quantum research. The future may not just be defined by military arms races, but by technology races, especially in areas like artificial intelligence, semiconductors, and quantum computing. The financial opportunity is also huge. By 2035, quantum computing is expected to generate roughly $43 billion to $71 billion in revenue. By 2040, some forecasts see that number climbing as high as $850 billion. Those are enormous figures for a technology that is still in its early innings, which helps explain why so much money is flowing into the space. I have to admit, quantum computing is both exciting and a little scary. A technology that can solve problems far faster than today's computers could open the door to incredible breakthroughs, but it could also create entirely new risks. Then again, that's true of almost every major technological leap in history. Progress is often uncomfortable at first, but it also has the power to reshape the world in ways we can't yet fully imagine. Financial Planning: Accessing Home Equity Homeowners tapped an estimated $47 billion of their roughly $11 trillion of home equity during the first quarter of 2026, the highest first quarter total since 2021. There are three primary ways to borrow against that equity. A cash-out refinance replaces your current mortgage with a larger one, but this generally only makes sense if today's interest rates are similar to or lower than your existing mortgage rate. That is unlikely for homeowners who locked in historically low rates during 2020 through 2022. A home equity loan functions as a second mortgage with its own fixed interest rate and monthly payment, making it a good choice when you need a lump sum for a specific purpose, such as a home renovation. A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows you to borrow only what you need and repay it on your own schedule. While HELOCs typically have variable interest rates, they also provide the greatest flexibility and can make sense in today's interest rate environment. Regardless of which strategy you choose, home equity should be used to improve your overall financial position, such as consolidating high interest debt, funding value-adding home improvements, or purchasing appreciating assets. It should not be used to finance ongoing living expenses or discretionary spending. Companies Discussed: Netflix Inc. (NFLX)
Apple acaba de subir los precios de varios modelos de Mac y iPad y el mercado ha reaccionado castigando sus acciones con caídas cercanas al 5%. Detrás de este movimiento está la brutal subida de precios de la memoria y el almacenamiento, impulsada por el boom de la inteligencia artificial y los centros de datos que acaparan la producción de chips. Por último, pondremos en contexto estas subidas con los impresionantes márgenes de hardware que Apple sigue reportando y lo que esto significa para los inversores. Si te interesa la tecnología, la IA y el mundo Apple, este episodio te va a ayudar a entender qué está pasando detrás de bastidores. Quédate hasta el final porque te cuento qué podría ocurrir con los precios de futuros dispositivos si la fiebre de la IA continúa. ---------------------------------- 00:00 – 05:00 Presentación, contexto general y por qué la subida de precios de Apple importa a usuarios e inversores. 05:00 – 15:00 Detalle de los nuevos precios de Mac y iPad: qué modelos suben, cuánto suben y comparación con generaciones anteriores. 15:00 – 30:00 Qué está pasando con la memoria y el almacenamiento: explicación de DRAM, NAND, HBM, y cómo la IA está acaparando la producción. 30:00 – 45:00 El papel de los centros de datos de IA y gigantes como Nvidia: por qué sus pedidos tienen prioridad frente a la electrónica de consumo. 45:00 – 60:00 “Chipflation”: qué dicen Morgan Stanley, JPMorgan y otros analistas sobre la subida extrema de precios de memoria y cuánto puede durar. 60:00 – 75:00 Impacto directo en Apple: márgenes de hardware, beneficios recientes y cómo intentan proteger rentabilidad sin matar la demanda. 75:00 – 90:00 Proveedores y geopolítica: Micron, SK Hynix, Samsung, intento de Apple de usar memoria china (YMTC, CXMT) y bloqueos desde EE. UU. 90:00 – 105:00 Efecto en el usuario final: ¿vale la pena comprar ahora?, posibles estrategias de compra, impacto en estudiantes, creadores y profesionales. 105:00 – 115:00 Escenarios futuros: qué puede pasar con los precios de Macs, iPads e incluso iPhones si la fiebre de la IA no se frena. 115:00 – 120:00 Cierre, resumen, opinión personal y llamada a la acción (comentarios, suscripción, siguiente episodio, etc.) ---------------------------------- #Apple #Mac #iPad #Tecnología #Bolsa #AccionesApple #InteligenciaArtificial #Chipflation #MemoriaRAM #PodcastTech ---------------------------------- https://seoxan.es/crear_pedido_hosting Codigo Cupon "APPLE" ---------------------------------- PATROCINADO POR SEOXAN Optimización SEO profesional para tu negocio https://seoxan.es https://uptime.urtix.es ---------------------------------- PARTICIPA EN DIRECTO Deja tu opinión en los comentario ---------------------------------- ¿TE GUSTÓ EL EPISODIO? ✨ Dale LIKE SUSCRÍBETE y activa la campanita para no perderte nada COMENTA COMPARTE con tus amigos Applelianos ---------------------------------- SÍGUENOS EN TODAS NUESTRAS PLATAFORMAS: YouTube: https://www.youtube.com/@Applelianos Telegram: https://t.me/+Jm8IE4n3xtI2Zjdk X (Twitter): https://x.com/ApplelianosPod Facebook: https://www.facebook.com/applelianos Apple Podcasts: https://apple.co/39QoPbO ----------------------------------
Micron Technology's shares rose more than 16 percent in premarket trading after earnings, according to CNBC. The company supplies DRAM, NAND, and high bandwidth memory used in AI servers and data center accelerators. Demand from Microsoft, Amazon, Google, and Meta is pushing more premium memory content and longer lead times. The memory pricing cycle has improved since 2023 as supply tightened and AI spending increased. The CHIPS Act awarded up to $8.5 billion to Intel and up to $6.6 billion to TSMC to expand U.S. manufacturing, while Micron pursues projects in Idaho and New York. China's 2023 cybersecurity review restricted Micron in critical infrastructure, and U.S. export controls continue to shape regional demand and supply allocations.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.
A structural repricing of memory and silicon components is forcing a shift in the economics of hardware resale for managed service providers (MSPs) and IT service providers. This shift is driven by concentrated demand for memory components from AI infrastructure build-outs, as evidenced by data from IDC and remarks from companies including Apple, Micron, SK Hynix, and Samsung. The episode highlights that memory costs have quadrupled in a year, and that both endpoint devices and servers are experiencing durable price inflation due to component scarcity and intensified competition for supply. The most consequential development cited is Apple's acknowledgment—confirmed by Tim Cook to the Wall Street Journal—that device price increases are now “unavoidable” because the cost of memory can no longer be absorbed. Memory manufacturers' share prices rallied on this signal, reinforcing an investor consensus that higher component costs will persist. IDC data showed AI-focused, non-x86 servers using Nvidia's ARM chips generated $58.7 billion—or nearly 48% of all server revenue—up 107% year over year, while x86 server revenue declined due to DRAM and NAND shortages. This dynamic indicates that AI infrastructure is bidding up component costs at the expense of standard business hardware. Secondary developments further reinforce this mechanism. The market's response to U.S. government announcements regarding Intel chip capacity expansion demonstrates that relief from the silicon crunch remains years away, not months. Channel partners—according to industry reporting—were already pivoting from hardware resale to services prior to these price shocks, with thinning hardware margins preceding the current pressure. The combination of fixed-fee hardware contracts and rising component costs now places providers in a position where they are “short silicon,” having unknowingly absorbed inflation risk they cannot pass on under existing contractual terms. For MSPs and IT leaders, the principal operational implications center on contract structure, exposure to component price volatility, and diminished hardware margins. Providers with fixed monthly agreements or hardware-as-a-service contracts based on last year's component costs are at an increasing risk of margin erosion, as their ability to reprice is contractually limited. Practical mitigation steps include auditing all fixed-fee agreements for exposure, amending contracts to include component index or price adjustment clauses, and separating hardware as a transparent, pass-through line item. Failing to adapt contract terms or refresh timing may compound both financial risk and the security profile of client endpoints. 00:00 Not the Tokens 03:31 An Auction for the Parts 05:46 Short Silicon 07:44 Why Do We Care? Supported by: Pax8 ScalePad Sign up for the SMB Online Conference: www.smbonlineconference.com
Futurum's Brendan Burke sees stronger growth for Micron (MU) that investors aren't pricing in. He believes revenue from data center will exceed expectations and points to Micron's "full stack" technology as a long-term benefit. Brendan also expects DRAM and NAND demand to accelerate further as hyperscaler and Anthropic partnerships move into the next stages. ======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about
AI's appetite for memory has turned chips into an inflationary factor. Our U.S. Public Policy Strategist Ariana Salvatore looks at what policymakers could do to reduce that pressure.Read more insights from Morgan Stanley.----- Transcript -----Ariana Salvatore: Welcome to Thoughts on the Market. I'm Ariana Salvatore, Morgan Stanley's U.S. Public Policy Strategist. Today, I'll be talking about chipflation and what policy tools can or can't be used to address the memory bottleneck. It's Wednesday, June 17th, at 10am in New York. Last week, you heard my colleague Shawn Kim talk about chipflation and the surging cost of memory. Today, I'll get into what policymakers can and can't do about it. As listeners will know, memory chips are becoming an increasingly strategic resource because AI infrastructure depends on them. And when a resource becomes strategic, governments tend to get involved. The challenge is that policy can help at the margin but probably can't solve the problem quickly. There are three reasons for that. First, many U.S. policy tools all take time. Direct subsidies, tax credits, procurement guarantees, and faster permitting are all things that can support new fabrication plants, packaging facilities, and testing capacity. But memory supply is not going to appear overnight. This new capacity has to be built, equipped, qualified, and ramped – and that process can take years. Second, China may be able to add some supply in conventional memory markets, but not enough to close the broader gap created by AI demand. That's especially true for high bandwidth memory, the more strategic type of memory for frontier AI systems. Supply there still remains highly concentrated, technically complex, and difficult to scale. Third, our base case is that U.S. policy remains more restrictive, not less. We don't expect a broad loosening of export controls given the strategic imperative of this technology. Instead, we think policymakers are likely to continue to prioritize supply chain resilience, trusted capacity, and geopolitical de-risking over the near-term price relief. Now, from a policy perspective, we think it's important to split memory into two categories. The first is AI strategic memory, high bandwidth and advanced DRAM. That's the memory that enables the most advanced AI systems. And for that reason, we think policy here is likely to focus on protecting strategic capability, limiting geopolitical vulnerability, and expanding trusted supply across the U.S. and its allied countries. The second category is commodity or legacy memory. That's the memory that you can think of as being used in autos, industrial systems, consumer electronics, and other non-frontier applications. Now here, we think policymakers could consider more flexible options, like differentiated licensing or targeted support for critical sectors. But even then, the limits are practical: permitting, workforce, tools, qualification cycles, and production lead times. China is the other major variable. Chinese producers are expanding in conventional DRAM and NAND. In some consumer-grade applications, that supply could act as a relief valve for buyers that have been crowded out by AI-related demand. But still, there are limits. Chinese producers face yield and technology gaps, even if policy is supportive. And China alone will not solve the high-bandwidth memory bottleneck. The regulatory backdrop reinforces that point.Some Chinese memory producers remain subject to U.S. restrictions or even heightened scrutiny. Access to the most advanced lithography tools also remains a hard ceiling. Without that access, scaling leading-edge memory becomes much more difficult. So, the bottom line is this: policy can mitigate chipflation, but it's unlikely to end it in the near term. For AI strategic memory, policymakers are more likely to defend access, deepen allied coordination, and encourage trusted capacity than to loosen restrictions. For commodity memory, there may be room for some targeted flexibility. But of course, geopolitics and timing still matter. Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.
Semiconductors have moved from the background of the technology stack to the center of the AI economy. What used to be a specialized industry discussed mostly by engineers and investors is now shaping the speed, cost, and strategic direction of modern computing.In this episode of TechSurge, host Michael Marks speaks with Stacy Rasgon, Managing Director and Senior Analyst covering U.S. semiconductors and semiconductor capital equipment at Bernstein Research. Stacy has spent years analyzing the chip industry across cycles, but argues that the current moment feels different in scale: AI demand has created an unprecedented scramble for compute, memory pricing has surged, and companies across the stack are being forced to rethink capacity, architecture, and capital allocation.The conversation explains the 4 different kinds of semiconductor cycles—supply, inventory, product, and demand — and why Stacy believes the industry is currently in a demand cycle of unusual magnitude. The discussion also unpacks the distinction between DRAM and NAND, why high-bandwidth memory is becoming strategically central to AI systems, and how the physical realities of wafer capacity and silicon area are constraining supply in ways the broader market often misses.Stacy and Michael also discuss the hardware economics behind the current boom, with Michael pressing Stacy on why compute remains so scarce and how companies are improving performance through packaging and system design. Michael then moves the conversation beyond market headlines to the core business questions: who is actually paying for this compute, which use cases are generating real revenue, and whether AI spending is creating durable economic value or simply shifting costs elsewhere. Together, these questions highlight two of the episode's clearest insights: coding may be one of the earliest AI applications with meaningful willingness to pay, and inference, not training, is the real test of whether the current buildout becomes a lasting business or just another expensive wave of infrastructure.Stacy explains the concentration of power among the major wafer fabrication equipment players, the rise of ASICs as a meaningful share of AI silicon, Broadcom's rapidly expanding AI opportunity, and the growing role of Chinese companies as new entrants, especially in memory and semiconductor equipment. Along the way, the conversation asks the defining question facing the sector: is this just another semiconductor upswing, or the first true supercycle the industry has seen? Stacy believes that this might be the biggest supercycle he has seen in his career.Sign up for our newsletter at techsurgepodcast.com for updates on upcoming TechSurge Live Summits and future episodes.Links:Stacy Rasgon on LinkedIn: https://www.linkedin.com/in/stacy-rasgon-6924963Bernstein: https://www.alliancebernstein.com/corporate/en/home.htmlReferences Mentioned During the DiscussionNVIDIA Blackwell Platform: https://www.nvidia.com/en-us/data-center/blackwell-platform/High Bandwidth Memory (HBM) overview from Micron: https://www.micron.com/products/memory/hbmDRAM overview from IBM: https://www.ibm.com/think/topics/dramNAND flash overview from IBM: https://www.ibm.com/think/topics/nand-flash-memoryFurther ReadingMcKinsey on the semiconductor industry outlook: https://www.mckinsey.com/industries/semiconductors/our-insights/the-semiconductor-industry-in-2025Semiconductor Industry Association: 2025 State of the U.S. Semiconductor Industry: https://www.semiconductors.orgNVIDIA on the Blackwell architecture and AI infrastructure roadmap: https://www.nvidia.com/en-us/data-center/blackwell-platform/Broadcom AI investor materials and infrastructure commentary: https://investors.broadcom.comASML on lithography and advanced chip manufacturing: https://www.asml.com/en/technologyMicron on HBM and AI memory demand: https://www.micron.com/products/memory/hbmChapters[00:00:00] — Highlights[00:00:26] — Welcome to the Episode[00:01:29] — Meet Stacy Rasgon[00:02:01] — Is This the First Real Semiconductor Supercycle?[00:05:33] — Inside the Strongest Memory Cycle in History [00:09:14] — Can Innovation Keep Up With AI Demand?[00:11:33] — Chiplets, Blackwell, and the New Economics of Compute [00:12:37] — What Could Signal the Cycle Is Slowing[00:14:26] — Vertical Integration at the Hyperscales [00:16:36] — The Difference between Apple and Meta[00:17:15] — What is Vertical Integration Being Done For?[00:18:15] — Will other bottlenecks develop as This Progresses? [00:21:13] — Oligopoly Pricing in the Market[00:22:22] — Any New Entrants into Memory?[00:23:46] — Why the Industry Must Pivot From Training to Inference[00:25:10] — Agentic Coding and the First Real AI Revenues[00:26:57] — Groq, Low-Latency Inference, and What GPUs Cannot Do Alone[00:29:28] —-Could The Smaller Companies All be Bought Up ?[00:30:19] — Why Semiconductor Equipment Matters More Than Ever [00:31:00] — How Semiconductor Equipment is Affected by the Cycle[00:32:55] — A Long Upcycle for Semiconductor Equipment Guys?[00:33:13] — The Big Five and the Rise of Chinese Equipment Players[00:34:24] — The Effects of Geopolitics[00:35:02] — Broadcom's Quiet AI Breakout[00:40:46] — ASICs vs GPUs and the Next Wave of Custom Chips[00:41:06] — Intel, Foundry Strategy, and the Long Turnaround[00:46:46] —-The Risks the Market May Still Be Underestimating[00:49:32] — Where Startups Still Have Room to Win[00:50:39] — What the Semiconductor Industry Could Look Like Next Year
Coverage of a potential SpaceX IPO has drawn investor attention to storage suppliers that support AI workloads, including SanDisk under Western Digital. SpaceX and its Starlink network generate and route data that flows into terrestrial networks and data centers. Enterprise SSDs based on NAND flash store and serve training data, features, and checkpoints to AI accelerators. The market separates in package high bandwidth memory from bulk NAND storage, with suppliers including SK hynix, Samsung, Micron, and Western Digital. Buyers manage cyclical pricing and delivery risk with multi vendor strategies, controller validation, and long term agreements. Founders should benchmark NVMe tiers, validate firmware, and secure supply to align performance and cost in AI deployments.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.
The Head of our Europe and Asia Technology Team, Shawn Kim, explains how AI's appetite for memory chips is boosting the cost of everything from data centers to smartphones, with consequences that may reach far beyond the tech industry.Read more insights from Morgan Stanley.----- Transcript -----Shawn Kim: Welcome to Thoughts on the Market. I'm Shawn Kim, Head of Morgan Stanley's Europe and Asia Technology Team. Today, we're talking about chipflation – when memory chips stop getting cheaper over time, and become more expensive and even harder to find. It's Monday, June 8th, at 3pm in London.Memory chips are easy to ignore, until your laptop slows down, your phone costs more, or your cloud bill jumps. Memory is the computer's workspace. It holds whatever the machine needs at that moment, whether that is a web search, a video, a spreadsheet, or an AI model answering a question. DRAM is the fast memory inside servers, PCs and phones. NAND is what stores files in solid-state drives. And HBM, or high bandwidth memory, is the high-performance version sitting right next to the AI chip, helping them move huge amounts of data quickly. That last one – HBM – is key because AI has become intensely memory hungry. Memory prices have risen more than six-fold over the last year, a sharp break from decades when the cost of DRAM generally kept falling. The pressure is coming from AI infrastructure buildouts. We see servers accounting for 59 percent of DRAM demand by 2028, up from 37 percent in 2023. We also see enterprise solid-state drives reaching 65 percent of NAND demand, up from 18 percent. And simply put, data centers are taking a much bigger share of the memory pie. AI memory use is climbing fast, and at every scale. A newer AI chip uses 7.2 times more HBM than earlier generations. A full system uses about 65 times more. Across an entire AI data center buildout, the jump gets even bigger. HBM has gone from roughly 10 terabytes in 2020 to about 18 petabytes in 2026, orders of magnitude more. This demand is running into a supply chain that cannot respond quickly. New memory capacity takes years to build, qualify and ramp up. Supply relief is a process, not a switch. And that creates a two-tier market. Large AI and cloud buyers can sign long-term agreements, prepay and secure priority access. Traditional buyers, including PC makers, smartphone makers and industrial hardware companies, must compete for what remains. This impacts everyday products. In 2027, we see PC memory demand potentially facing a 15 percent shortfall, equivalent to about 58 million PCs. Smartphones could face a 12 percent shortfall, equivalent to about 134 million units. Companies may have to raise prices, cut specifications, delay launches, and accept lower profits. The dollar numbers are striking. We see the memory market growing from about $220 USD billion in 2025 to about $890 billion in 2026. Expectations for 2026 memory revenue rose 71 percent in just three months. That implies roughly $600 USD billion of incremental memory revenue in 2026, more than the annual market for smartphones, PCs, or servers, each taken on its own. The broader economy may not see a significant direct inflation shock. We estimate the direct impact on headline CPI at about 0.1 percent in 2026. But pressure is showing up in producer prices, in corporate margins, cloud costs, capital spending plans and delayed technology upgrades. AI has turned memory from the cheapest part of the digital economy into one of its most contested resources. These tiny chips most people never think of may now decide what gets built or delayed, and how much we all end up paying. Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.
May 30,2026 Saturday : Morning : Sandhya GurubhaktiYog Sandhya Bhagwan Buddh Aur Shishya Nand Ki Katha Prasang Bhag -2
Es kann uns nichts besseres geschehen, wie wenn durch das Wirken des Heiligen Geistes Zeichen geschehen, die Menschen von Grund auf verändern.
News and Updates: AI Compute Tax Debate: Economists and policymakers are debating taxing AI processing power to offset job displacement and fund social services, though critics argue it's too blunt a tool. AI Dividend Proposal: NY congressional candidate Alex Bores unveiled an "AI Dividend" plan funding direct payments to Americans through a token tax on AI consumption and equity stakes in frontier AI firms. Screenless Fitness Trackers Surge: Screenless wearables like Oura Ring and Whoop are booming, with U.S. fitness tracker purchases up 88% and smart ring sales up 195% between 2024 and 2025. Canvas Hacker Payout: Instructure, maker of the Canvas education platform, reached an undisclosed "agreement" with the ShinyHunters hacking gang after a breach exposed data from 275 million users across 9,000 institutions. FCC Router Ban vs. Supply Chain: AT&T warned the FCC that a global DRAM and NAND flash shortage, driven by AI deployments, is complicating compliance with its ban on foreign-made Wi-Fi routers. Google Unveils Googlebook: Google announced a new laptop line called Googlebooks running a fused Android/ChromeOS platform, featuring Gemini AI integration and a "Magic Pointer," with hardware partners including Acer, Dell, HP, and Lenovo.
Seagate just reported its best free cash flow in a decade. EPS is up 115% year over year. Revenue grew 44%. Management is calling it a structural shift — the idea that nearline hard disk drives have permanently broken out of their long secular decline thanks to AI data center demand.The numbers are real. The demand from hyperscalers is real. The Mozaic 4 platform shipping at 40-plus terabytes per device is real, and the Mozaic 5 roadmap targeting over 50 terabytes in late 2027 is genuinely impressive. When AI inference needs to recall vast quantities of stored data almost instantaneously, nearline HDDs are exactly the right tool, and Seagate is the dominant supplier. The $1.1 trillion in remaining performance obligations that cloud providers have committed to accelerated compute infrastructure means there is a multi-year demand runway here that is not in dispute.What is in dispute is whether calling this a structural shift — rather than a very powerful cyclical upswing driven by a once-in-a-generation CapEx surge — is accurate. Hard disk drive technology is mature. NAND flash and SSDs will continue taking market share over a long enough time horizon. And Seagate, for all its current dominance, is still a price-taker in a commodity memory market. The party is real. The question is how long it lasts and what you do while it's happening.In this excerpt from a Semi Insider live Q&A session, CSI works through every layer of Seagate's Q3 FY2026 results and close with something genuinely useful for investors: a three-part framework for handling a commodity stock that is over-earning in a cycle without knowing exactly when it ends.What we cover:— Seagate Q3 FY2026: $3.1B revenue (+44% YoY), 47% gross margin, EPS +115%— Best free cash flow in a decade: $953M and the operating leverage story— Q4 FY2026 guidance: $3.45B revenue (+41% YoY), EPS of $5 (+123% YoY)— The structural shift thesis: what management is claiming and what history says— Nearline HDD explained: why AI inference changed the demand equation— Mozaic 4 shipping now, Mozaic 5 roadmap to late 2027— Data center revenue: $2.5B of $3.1B total — hyperscaler dependency— The $1.1T cloud RPO and Seagate's multi-year runway— Reverse DCF: 56% EPS growth over three years — what it implies at $687— Three frameworks for handling an over-earning commodity stock— The 2028 risk: debt paydown, shareholder returns, and the inevitable washoutMembers of Semi Insider get the full live session including extended Q&A and the complete research. Join at chipstockinvestor.com
Sandisk (SNDK) has risen nearly 3,000% over the last year, and despite the rally, it is making a case that it could go even higher. In this week's Tech Corner, George Tsilis examines how Sandisk has excelled since its spin-off from Western Digital, and how its pure-play NAND technology allows it to serve the growing LLM market.George also examines key risks — including the parabolic move in the stock, fears of a global oversupply in NAND technology, and valuation concerns.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about
Lam Research just reported its best quarter ever — and then guided the next quarter to $6.6 billion in revenue. Wall Street was expecting $6.1 billion. In this episode, Nick and Kasey break down everything that matters from Lam Research's Q3 fiscal year 2026 earnings: the headline numbers, the mix shift toward memory, the advanced packaging growth story, what management's $796 million share buyback at all-time highs is actually communicating, and why Lam has quietly become CSI's largest semiconductor equipment holding — overtaking Applied Materials, where their conviction started over a decade ago.There is also the acceleration of the $40 billion NAND conversion investment timeline, now expected to complete before the end of 2027 — a significant pull-forward that increases near-term equipment demand for exactly the etch and deposition tools that Lam dominates. What we cover:— Q3 FY2026 results: $5.84B revenue, +24% year over year, EPS beat, gross margin approaching 50%— Q4 guidance: $6.6B vs. $6.1B analyst consensus — what the gap means for the cycle— Memory mix rising to 39% of systems revenue and why it has further to run in 2026 and 2027— Advanced packaging revenues targeted to grow over 50% in calendar year 2026— Customer support segment hits a record $2B — the recurring revenue cushion for the next downturn— The $796M share buyback at all-time highs — management's unambiguous signal— The $40B NAND conversion acceleration and what it means for Lam's revenue runway— Wafer fab equipment spending raised to $140B annually — the industry-wide read-through— Why Lam has become CSI's largest fab equipment holdingSponsored by fiscal.ai — the platform powering CSI's KPI charts and financial data. Get 15% off at fiscal.ai/csiDisclosure: Nick and Kasey are Lam Research shareholders. This content is for general information only and is not individual investment advice. All investing involves risk.chipstockinvestor.com
Tightening budget constraints and rising data trust requirements are increasing operational pressure on managed service providers by shifting risk and accountability downward through the service chain. Developments in both the European and US markets, together with supply chain volatility and heightened scrutiny of where and how data is handled, are forcing MSPs to redefine both service delivery and governance models. According to Speaker A, MSPs focusing on auditability, clear data residency, and sovereignty will remain viable, while those relying on traditional narratives or ambiguous transformation pitches risk being sidelined. The episode points to evidence from several reports: Politico notes that 8 out of 10 Europeans do not trust US or Chinese firms with their data, highlighting explicit concerns over data location and custodianship. Concurrently, the U.S. Chamber of Commerce Small Business Index, cited by Axios, shows declining confidence among American small businesses, with only 37% expecting new investments and 53% listing inflation as their top challenge. Further, Channel Insider flags “memflation,” with DRAM and NAND prices expected to rise 125% and 243% respectively by 2026, intensifying margin pressure and pricing risk for operators. Additional risk drivers come from both operational and technical layers. Speaker A references the Blackpoint Cyber 2026 threat report, which attributes most breaches to the abuse of trusted credentials and tools—such as RMM solutions and SSL VPNs—rather than new vulnerabilities. Governance gaps are also worsened by declining white-collar hiring, as cited by Gallup and Axios, reducing internal capacity for vendor reviews, incident follow-up, and process controls. Increased automation and outsourcing in response to these gaps tend to create more dependency chains and larger blast radii, making explicit governance even more important. For MSPs, these findings point to operational needs that go beyond technical capability. Contract terms must address volatile input costs directly, with shorter quote validity and explicit repricing clauses. Governance processes should include audit-ready data maps, clear documentation of subprocessors, and proactive credential management. Without these measures, MSPs risk being treated as interchangeable commodities and exposed to margin compression and heightened liability from external compliance and trust requirements. 00:00 SMB Caution 03:48 Coordination Crunch 06:24 RMM Exposed 09:36 Why Do We Care? Supported by: Zero Networks HaloPSA
Is High-Bandwidth Flash (HBF) a direct competitor to HBM, or something entirely new? In this episode, we break down the technology of High-Bandwidth Flash (HBF) and its role in solving the "memory wall" for AI inference.We explore how HBF fits into the existing memory hierarchy—sitting between HBM and traditional NAND flash—to provide high capacity and increased speed for the next generation of AI data centers. We also discuss the technical side of the SanDisk and Kioxia partnership, including BiCS technology and CBA wafer bonding, and when investors can expect this technology to actually hit the bottom line.Join us on Discord with Semiconductor Insider, sign up on our website: www.chipstockinvestor.com/membershipSupercharge your analysis with AI! Get 15% of your membership with our special link here: https://fiscal.ai/csi/Sign Up For Our Newsletter: https://mailchi.mp/b1228c12f284/sign-up-landing-page-short-formChapters:01:17 – The NAND Market: Key Players (Micron, Samsung, SK hynix) 02:10 – What is NAND Flash? Memory vs. Storage 02:50 – The Memory Hierarchy: Capacity vs. Speed 03:57 – What is High-Bandwidth Flash (HBF)? 04:32 – HBF vs. HBM: Clearing up the Misunderstandings 05:10 – The Tech: BiCS, 16-Chip Stacks, and Wafer Bonding 05:57 – Solving the AI "Memory Wall" & Inference Bottleneck 06:58 – Timeline: When Will HBF Generate Revenue? 08:01 – Investment Strategy: The Fab Five & Lam ResearchIf you found this video useful, please make sure to like and subscribe!*********************************************************Affiliate links that are sprinkled in throughout this video. If something catches your eye and you decide to buy it, we might earn a little coffee money. Thanks for helping us (Kasey) fuel our caffeine addiction!Content in this video is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal. #HBF #HighBandwidthFlash #HBM #AIInvesting #Semiconductors #ChipStockInvestor #SanDisk #NAND #DataCenter #AIHardwareNick and Kasey own shares of Sandisk
Chip Stock Investor breaks down Micron's Q2 fiscal 2026 earnings, highlighting nearly $24B in quarterly revenue (tripling year over year), surging AI data center demand, and standout Q3 guidance of $33.5B versus about $23B expected. Financial highlights include $13.8B GAAP net income, $5.5B free cash flow amid heavy capex, and a strengthened balance sheet with $14.6B cash and about $10B total debt. DRAM and NAND volumes and ASPs jumped sharply, and while higher memory prices may drive mid-teens declines in 2026 PC and smartphone shipments, data center demand is expected to offset consumer weakness into 2026–2027.Join us on Discord with Semiconductor Insider, sign up on our website: www.chipstockinvestor.com/membershipSupercharge your analysis with AI! Get 15% of your membership with our special link here: https://fiscal.ai/csi/Sign Up For Our Newsletter: https://mailchi.mp/b1228c12f284/sign-up-landing-page-short-formChapters:00:00 Micron Earnings Shock01:09 Revenue Surge Highlights01:46 Blowout Guidance Ahead02:53 Strategic Customer Deals04:23 Cyclicality Reality Check05:09 Profits Cash Flow Capex05:32 Balance Sheet Strength06:13 DRAM NAND Market Breakdown06:56 ASPs Soar In Shortage08:13 Consumer Demand Risks09:05 Outlook Stock VolatilityIf you found this video useful, please make sure to like and subscribe!*********************************************************Affiliate links that are sprinkled in throughout this video. If something catches your eye and you decide to buy it, we might earn a little coffee money. Thanks for helping us (Kasey) fuel our caffeine addiction!Content in this video is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal. #chipstockinvestor #micron #mutock #memorystocksNick and Kasey own shares of Micron
In episode 86 of the I'M PEAKING podcast, we get into some real talk about rave culture. From the impact phones have on festival experiences to the bigger question of whether raving is healing or just an escape. We also unpack the ATLiens vs. OutKast legal drama, share our thoughts on the EDC lineup debates, and Nand recaps his experience out at EDC Thailand.Plus, the podcast is gearing up for a STUDIO MOVE, so if you've got any leads on a new space, we're all ears. Be sure to tune into this one and hope you enjoy!
Everpure, formerly known as Pure Storage (PSTG), is undergoing a significant business model transformation from solely a NAND flash hardware provider to a data management and software-centric company. This shift is highlighted by the acquisition of 1Touch (rebranded as Pure1) to enter the Data Security Posture Management (DSPM) market and a strategic partnership with Meta, where Everpure provides high-margin IP licensing and engineering services rather than just physical storage arrays. Despite record R&D spending approaching $1 billion and recent price increases to offset memory shortages, the market remains cautious as it waits for 75–85% gross margins from the Meta deal to reflect in financial results. What is CSI doing with our PSTG position?Join us on Discord with Semiconductor Insider, sign up on our website: www.chipstockinvestor.com/membershipSupercharge your analysis with AI! Get 15% of your membership with our special link here: https://fiscal.ai/csi/Sign Up For Our Newsletter: https://mailchi.mp/b1228c12f284/sign-up-landing-page-short-formChapters0:00 - The Rebrand: From Pure Storage to Everpure 1:15 - "Everpure" or "Ever Distilled"? Initial Thoughts on the Name 2:30 - Where Everpure Fits in the Semi Supply Chain 3:45 - The Software Shift: Portworks, 1Touch, and Pure1 5:00 - DSPM: Entering the Data Security Market 6:15 - R&D Comparison: Everpure vs. NetApp 7:45 - The Memory Shortage & 2026 Price Increases 9:00 - Decoding the Meta Deal: Engineering & IP Licensing 10:30 - Margin Expectations: The Path to 85% 11:45 - Guidance & Revenue Forecasts for FY2027 13:15 - Is Management Sandbagging? 14:30 - Final Verdict: Is PSTG a "Wait and See"?If you found this video useful, please make sure to like and subscribe!*********************************************************Affiliate links that are sprinkled in throughout this video. If something catches your eye and you decide to buy it, we might earn a little coffee money. Thanks for helping us (Kasey) fuel our caffeine addiction!Content in this video is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal.#Everpure #PSTG #PureStorage #TechInvesting #Semiconductors #DataManagement #Meta #StockMarket #ChipStockInvestorNick and Kasey own shares of PSTG
Bṛhad-bhāgavatāmṛta Part 2 Chapter 3 Text 61 jñātvā bhagavatā tena dṛṣṭyādiṣṭasya nandinaḥ upadeśena śuddhena svayaṁ me 'sphurad añjasā TRANSLATION Lord Śiva, reading my thoughts, ordered Nandīśvara with a knowing glance, and through Nandīśvara's pure guidance the facts easily revealed themselves to me.
This week we're exploring the food and culture of Kurdistan with author of Nandên: Recipes from My Kurdish Kitchen, Pary BabanBorn in Southern Kurdistan, in Qaladze, a place known for its resistance and community, Pary fled Kurdistan with her family to escape what became known as the Anfal Genocide, and this is a hard listen. But it's her passion for using the food of her land in her restaurant Nandine in South London and now the book, Nandên meaning kitchen to keep her Kurdish culture alive after generations of hardship and displacement, that makes this an essential listen. Pop over to Gilly's Substack for Extra Bites of Pary, including a recipe for Yapraxi bahara, the stuffed vine leaves in her food moments.You can buy the book from the CTB Bookshop at Bookshop.org by clicking here. Hosted on Acast. See acast.com/privacy for more information.
What stock am I adding to my "buy the dip" list right now? Get my FREE newsletter or sign up for the paid version with benefits like the Office Hours and tracking the portfolios in Savvy Trader https://dailystockpick.substack.com/THESE SALES END SOON: TRENDSPIDER - get any annual plan and I'll send you my 4 hour algorithm. Seeking Alpha's Tool kit *BEST DEAL - SEEKING ALPHA BUNDLE - Save over $150 and get Premium and Alpha Picks together ALPHA PICKS - Want to Beat the S&P? Save $75 Seeking Alpha Premium - FREE 7 DAY TRIAL and 15% OFFSEEKING ALPHA PRO - TRY IT FOR A MONTH FOR ONLY $89 EPISODE SUMMARY
Srimad Bhagavatam [Bhagwat Katha] – Part 26 | Swami Mukundananda Swamiji narrates the divine first leela of Shree Krishna in Gokul. Nand and Yashoda, known for their simplicity and devotion, had longed for a child. The Brahmins blessed them, and by divine arrangement, the Lord Himself was destined to appear in their home. On the suspenseful night of Krishna's birth, one by one the prison guards fell asleep, the chains broke, and the doors opened. Vasudeva carried the newborn across the Yamuna, which parted to make way, and placed Him safely in Gokul. At that very moment, Yashoda fainted in divine ecstasy, and Krishna's gentle crying awakened everyone to the miracle. Soon after, the mukh‑dikhai ceremony was performed, where the villagers gathered to behold the divine child. The celebration in Vraj was filled with joy, music, and devotion, as the community rejoiced at the arrival of their beloved Krishna. Swamiji emphasizes that these leelas are not ordinary events but spiritual lessons. Krishna's first leela reveals how God binds His devotees with love, awakens prem bhakti, and assures that His presence is tender, loving, and accessible in the simplest forms of affection. About Swami Mukundananda: Swami Mukundananda is a renowned spiritual leader, Vedic scholar, Bhakti saint, best‑selling author, and an international authority on the subject of mind management. He is the founder of the unique yogic system called JKYog. Swamiji holds distinguished degrees in Engineering and Management from IIT and IIM. Having taken the renounced order of life (sanyas), he is the senior disciple of Jagadguru Shree Kripaluji Maharaj, and has been sharing Vedic wisdom across the globe for decades.
Srimad Bhagavatam [Bhagwat Katha] – Part 27 | Swami Mukundananda Swamiji narrates the suspenseful leela of Putna Vadh, which reveals Shree Krishna's divine protection even as a six‑day‑old infant. Kamsa, fearful of the prophecy, sent the demoness Putna to Gokul. Disguised as a beautiful woman, she entered Nand and Yashoda's home, pretending to shower affection on the newborn Krishna. Putna attempted to poison Krishna by breastfeeding Him with deadly milk. But Krishna, the Supreme Lord, accepted her as a mother figure and sucked not only the milk but also her very life force. Putna collapsed lifeless, and when her body was cremated, it emanated fragrance instead of foul odor — a sign of Krishna's boundless grace. Swamiji explains that even though Putna came with evil intent, Krishna granted her liberation because she had offered Him the semblance of motherly affection. The villagers of Vraj were struck with awe and relief. Nand and Yashoda, shaken yet grateful, realized the extraordinary protection surrounding their child. The suspense of the night gave way to reassurance, as the mothers of Vraj instinctively performed protective rituals around Krishna, expressing their love and devotion. Swamiji emphasizes that this leela teaches us to develop unshakable faith in God's protection. Just as Krishna safeguarded the people of Braj, He continues to protect devotees who surrender to Him with love and trust. Even hostility, when directed toward God, can be transformed into grace — showing the Lord's infinite compassion. About Swami Mukundananda: Swami Mukundananda is a renowned spiritual leader, Vedic scholar, Bhakti saint, best‑selling author, and an international authority on the subject of mind management. He is the founder of the unique yogic system called JKYog. Swamiji holds distinguished degrees in Engineering and Management from IIT and IIM. Having taken the renounced order of life (sanyas), he is the senior disciple of Jagadguru Shree Kripaluji Maharaj, and has been sharing Vedic wisdom across the globe for decades.
Today on Second Request, Executive Editor Teddy Downey sits down with Sacha Sloan a senior correspondent at The Capitol Forum to discuss Sacha's recent reporting on potential collusion in the microchip sector. Together they discuss how coordinated production cuts, reduced capital expenditures, and public signaling by major NAND manufacturers are contributing to a sharp supply crunch and record price increases. To learn more about The Capitol Forum follow us on Bluesky and Linkedin.
Wen Quan Cheong, co-manager of Mawer's emerging markets equity strategy, outlines four major themes shaping the opportunity set today. First, the "picks and shovels" of AI: upstream enablers such as advanced chip manufacturers, memory makers, and specialized chip-testing firms that are benefiting from structural bottlenecks in the AI supply chain. Second, companies that are actually converting AI investment into higher returns on capital. Third, the "Great Supply Chain Reshuffle," where national security concerns, tariffs, and "China plus one" strategies are driving a reconfiguration of strategic manufacturing infrastructure across Asia and the U.S. And finally, a broader universe of less obvious EM stories that illustrate how opportunity is evolving across regions and sectors as these forces play out. Highlights: Why upstream AI enablers are seeing such powerful earnings leverage: how capacity cuts, equipment bottlenecks, and surging demand for DRAM, HBM, and NAND have flipped the memory market from oversupplied to structurally tight. What it takes for companies to truly convert AI investment into sustainable returns on invested capital, and why early, well-run adopters may enjoy a multi year edge. How shifting geopolitics, U.S. tariffs, and national security concerns are driving a "Great Supply Chain Reshuffle," from TSMC-linked clean room specialists like Actor Group supporting new fabs to Chinese manufacturers using their domestic scale and integration to expand overseas. Why emerging markets are more than just China and tech, with examples ranging from Saudi insurance aggregation and Vietnamese pharmacies to ship maintenance businesses with recurring revenues. Host: Rob Campbell, CFA Institutional Portfolio Manager Guest: Wen Quan Cheong, CFA Portfolio Manager This episode is available for download anywhere you get your podcasts. Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit Mawer at https://www.mawer.com. Follow us on social: LinkedIn - https://www.linkedin.com/company/mawer-investment-management/ Instagram - https://www.instagram.com/mawerinvestmentmanagement/
Sandisk's stock has gone up over 1,500% in the last 12 months, so what is causing this surge?In today's deep dive, Zaid breaks down how Sandisk went from a boring storage company to the hottest stock in the S&P 500. He explains what Sandisk actually does, why AI data center demand has completely reshaped the NAND memory market, the bull case moving forward and the risks tied to the memory cycle and rising competitionFollow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.Check out the Public app for incredible investing tools and to support the show (LINK)
武味梓｜ 古法紫微 × 八字行運 × 陽宅風水 × 易經指引Podcast：https://open.spotify.com/show/1k4AmdjTl3bRn1fCIZRYvu?si=koRZpdw7TQ-YF66k7EfbpwThreads：https://www.threads.com/@1491_eden 【限時專欄年方案 9 折優惠活動】
第一個結合「真實犯罪」與「推理小說」的podcast節目。喜歡聽真實犯罪故事以及喜歡閱讀推理小說的你，千萬別錯過。即刻開始進入「惡之根」的世界，讓我們一起研究犯罪，遠離犯罪吧！ https://fstry.pse.is/8np23h —— 以上為 Firstory Podcast 廣告 —— 【限時專欄年方案 9 折優惠活動】
What happens when Kent decides to use the podcast as an SFF build livestream? What about a build using DDR4 memory?? It probably doesn't get more exciting than this. Unless you count discussing the impending pricing DOOM for SSDs and the Google enabled bluetooth security flaw.So much more fun in the timestamps below!Timestamps:0:00 Intro00:41 Patreon01:29 Food with Josh03:03 Checking in on Kent04:42 RIP cheap SSDs06:07 Samsung and SK hynix reportedly cut NAND supply to drive profits07:00 Checking in on Kent again07:38 NVIDIA GPU prices are probably going up soon12:27 RTX 5070 Ti and 5060 Ti 16GB are not EOL after all14:18 NVIDIA releasing Arm-based chips for Windows laptops this year?17:33 Micron acquires PSMC fab to expand memory operations19:38 Dev patches WINE to make Photoshop 2021, 2025 run on Linux21:35 Josh checks in on Kent25:32 (In)Security Corner35:34 Another check on Kent's build progress36:38 Gaming Quick Hits40:24 Kent makes more progress41:36 Picks of the Week55:34 Outro ★ Support this podcast on Patreon ★
【謝晨彥分析師Line官方帳號】 https://lin.ee/se5Bh8n 2026.01.23【三星 海力士 再減產NAND 華邦電 群聯 再不買來不及？】#華爾街見聞 謝晨彥分析師 ☆ 三星 海力士NAND產能再下修 背後打什麼算盤？ ☆ 什麼是NAND Flash？ 與HBM、DRAM獲利結構深入比較！ ☆ #華邦電 #群聯 能否重啟漲勢？ 馬上加入Line帳號! 獲取更多股票訊息! LINE搜尋ID：@gp520 https://lin.ee/se5Bh8n 也可來電免付費專線洽詢任何疑問! 0800-66-8085 獲取更多股票訊息 #摩爾投顧 #謝晨彥 #分析師 #股怪教授 #股票 #台股 #飆股 #三大法人 #漲停 #選股 #技術分析 #波段 #獲利 #飆股啟航 #大賺 #美債 #華爾街見聞 -- Hosting provided by SoundOn
We are finally revisiting Silicon Motion (SIMO), a small-cap semiconductor stock we've held onto during their poor performance. After sitting in value purgatory, the company is back in growth mode and they have dropped some not so subtle hints at their partnership with Nvidia. In this video, we break down:--What a NAND flash controller actually does and why IDMs (like Samsung and Micron) might be forced to outsource more work to Silicon Motion in 2026.-- The CEO all but confirmed they are designing the boot drive controller for Nvidia's Bluefield-4 DPUs. We analyze what this Nvidia bump means for their bottom line.Valuation: With margins expanding toward 50% and revenue growing, is SIMO still a deal at $110/share?The MaxLinear Drama: An update on the failed merger and the $160M termination fee arbitration that could finally be resolved this year.If you are looking for a semiconductor play outside the massive trillion-dollar giants, this episode is for you.Watch next: https://youtu.be/JxpoNjBCmDkhttps://youtu.be/_uvIkPwDu5AJoin us on Discord with Semiconductor Insider, sign up on our website: www.chipstockinvestor.com/membershipSupercharge your analysis with AI! Get 15% of your membership with our special link here: https://fiscal.ai/csi/Sign Up For Our Newsletter: https://mailchi.mp/b1228c12f284/sign-up-landing-page-short-formIf you found this video useful, please make sure to like and subscribe!Chapters:00:00 - Why we kept our Silicon Motion shares00:48 - What are NAND Flash Controllers?01:58 - The 2026 Memory Shortage: Ripple effects in the supply chain03:20 - The Frenemy Risk: Competing with customers (Samsung, Hynix)04:36 - The Cadence Connection: IP supply chain dependencies06:17 - The Nvidia Catalyst: Bluefield-4 Boot Drives11:13 - Financials: Margins expanding to 50%?12:29 - Valuation: Is SIMO still a buy at $110?13:50 - The MaxLinear (MXL) Lawsuit: Where is the $160M?*********************************************************Affiliate links that are sprinkled in throughout this video. If something catches your eye and you decide to buy it, we might earn a little coffee money. Thanks for helping us (Kasey) fuel our caffeine addiction!Content in this video is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal.#SiliconMotion #SIMO #Semiconductors #ChipStocks #StockMarket #Investing #Nvidia #NVDA #NANDFlash #TechInvesting #SmallCapStocks #ValueInvesting #SupplyChain #ChipStockInvestor #AIChipsNick and Kasey own shares of Silicon Motion
Memory shortages are all the rage in 2026. How should you play the AI data center supply crunch?We discussed this back in 2025, and now it is here: Memory shortages are hitting the AI data center supply chain across the board. But is this an AI bubble, or just a normal cyclical growth cycle? In this video, we break down the entire memory hierarchy—from ultra-fast on-chip SRAM to HBM and long-term storage—and give you the basket of companies to watch for each layer.We also discuss why Pure Storage is our top bet for secondary storage and how equipment suppliers like Lam Research could benefit as manufacturers race to expand capacity.Join us on Discord with Semiconductor Insider, sign up on our website: www.chipstockinvestor.com/membershipSupercharge your analysis with AI! Get 15% of your membership with our special link here: https://fiscal.ai/csi/Sign Up For Our Newsletter: https://mailchi.mp/b1228c12f284/sign-up-landing-page-short-formChapters:00:00 – Memory Shortages: Bubble vs. Cyclical Growth 02:13 – The AI Memory Hierarchy Explained (SRAM, DRAM, NAND) 04:59 – SRAM Stocks: Nvidia, AMD, & Synopsys 06:50 – Embedded Memory: Weebit Nano & MRAM players 07:46 – DRAM & HBM Leaders: SK Hynix, Micron, Samsung 09:00 – The NAND & HDD Resurgence (Seagate & WD) 11:00 – Why Pure Storage is a Top Bet 14:00 – The Fab Five & Lam Research OpportunityIf you found this video useful, please make sure to like and subscribe!*********************************************************Affiliate links that are sprinkled in throughout this video. If something catches your eye and you decide to buy it, we might earn a little coffee money. Thanks for helping us (Kasey) fuel our caffeine addiction!Content in this video is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal. #semiconductors #chips #investing #stocks #finance #financeeducation #silicon #artificialintelligence #ai #financeeducation #chipstocks #finance #stocks #investing #investor #financeeducation #stockmarket #chipstockinvestor #fablesschipdesign #chipmanufacturing #semiconductormanufacturing #semiconductorstocks Nick and Kasey own shares of Nvidia, Micron, Pure Storage, Sk hynix, Kioxia, Lam Research
Daniel is joined by Doug Wong, senior member of the technical staff at KIOXIA America, where he has contributed to the advancement of memory technologies since 1993. He began his career with KIOXIA in the company's Memory Division (then part of Toshiba America) and has since focused on a broad range of memory solutions, including… Read More
What's the case for college these days? For much of the last fifty years, research very clearly suggested that college was the key to unlock the American Dream. A college degree not only ensured a route to a stable career but was also strongly correlated with future financial well-being. Events of recent years, along with the affordability challenges, seem to have stood that conventional wisdom on its head.rnrnAnd yet, more than 15 million students are enrolled in undergraduate programs at close to 4,000 institutions. And despite the headlines about name-brand private colleges and universities, it's important to remember that more than 70% of those students are at public institutions--community colleges and state schools that prioritize affordability alongside educational quality.rnrnTo make the case for college in these turbulent times, we'll hear from the President of one of the more affordable higher education institutions in Northeast Ohio, the chief executive of the regional organization that supports more than 42,000 individuals every year, and the best-selling author of The Black Family's Guide to College Admissions: A Conversation about Education, Parenting, and Race.
AI's increasing demand for memory and storage is leading to a significant pricing crisis in the hardware market, with projections indicating that this situation could persist for the next decade. Analysts and manufacturers are warning of impending shortages of NAND and DRAM, essential components for solid-state drives and memory. The price of NAND Flash has already surged by over 100% in just six months, and DDR4 memory products are expected to rise by up to 43% in the third quarter of 2025. This crisis is largely driven by major AI projects, such as OpenAI's Stargate initiative, which could consume a staggering 40% of global DRAM output.Despite broader economic challenges, the tech sector is experiencing a rebound in hiring, particularly in Silicon Valley, where AI companies are driving a resurgence in the office market. Job postings for software developers, cybersecurity engineers, and AI engineers have seen notable increases, even as the private sector overall lost jobs. The demand for tech talent remains high, with international tech workers still viewing the U.S. as an attractive destination. This shift contradicts earlier predictions that AI would lead to widespread job losses, instead highlighting a transformation in workforce dynamics.The podcast also discusses a significant shift in the perception of market development funds (MDF) among channel partners. Traditional MDF programs are becoming obsolete, with partners now prioritizing outcome-based funds and training that enhance capabilities and align with customer success. This change reflects a broader trend in vendor-partner relationships, where partners seek strategic alliances focused on measurable outcomes rather than outdated financial support for marketing activities. The evolving landscape emphasizes the need for specialization and collaboration to thrive in the current market.Finally, the episode touches on the concept of "inshittification," particularly in relation to Amazon's declining customer-centric approach as it prioritizes profits over user experience. This trend raises concerns about the future of online commerce and the trustworthiness of platforms. Additionally, the discussion includes insights on employee satisfaction post-IPO, the evolution of AI technology at Notion, and the challenges faced by OpenAI as it navigates financial losses. These topics prompt critical reflections on vendor relationships, the impact of public offerings on innovation, and the readiness of clients for advanced AI systems. Four things to know today00:00 AI Boom Sparks Global Memory Shortage, Driving Decade-Long Hardware Price Surge04:23 AI Fuels Tech Hiring Surge as U.S. Job Market Splits in Two07:14 MDF Is Dead: Partners Demand Outcome-Based Funding and Strategic Enablement10:10 Amazon's Enshittification, IPO Fallout, and OpenAI's Struggle — Strategy Lessons for IT Providers This is the Business of Tech. Supported by: https://getflexpoint.com/msp-radio/https://scalepad.com/dave/ Webinar: https://bit.ly/msprmail
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