To put the past week into perspective on the Podcast, I felt I had to reach all the way back to the Ronald Reagan days in America, and the rise of “voodoo economics,” the faith that if the biggest entities in the economy do well, it’ll just trickle down to the rest. The AI trade,
@tiernanraytech
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Chip Companies Rely on Billion-Dollar Paper Promises for Growth
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We’ve seen a pattern now of chip companies being boosted by singular deals projecting tens of billions years into the future. I’m not saying it won’t happen, but a lot is riding on paper promises. Such is the case with foundry potential for Intel thanks to Elon Musk’s “Terafab”
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Cerebras IPO: Revenue Concentration Among Two Major Customers
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I’m very excited for Cerebras’s IPO, having followed this company since Andrew Feldman and I were having tacos in Palo Alto when his company was in stealth. The IPO prospectus confirms what I somewhat feared, which is that the vast majority of revenue has come from two giant
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Plain Chips Resurgence: Texas Instruments Reports Valuation Surge
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The resurgence in “plain-old” chips is something I’ve been writing about for over a year now. It has come to pass, best exemplified by Texas Instruments’s Wednesday evening report. But the stocks anticipated this turn-around, and many see shares as fully valued even if AI data
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Software CEOs Still Struggle to Monetize AI Despite Hype
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Every quarter, software CEOs tantalize with the prospects of AI-linked revenue. Three and a half years after ChatGPT burst on the scene, it’s still hard for the Street to see any material payoff from AI for most software vendors. I somehow suspect this quarter won’t be different.
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Micron Technology: From Commodity Chip Maker to AI Hardware Leader
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Micron Technology is one of the most interesting tech company stories of the last twenty years. It continues to be treated as a commodity chip maker, but I believe its profile has changed as the dynamics of the market have changed. The rise of AI makes memory essential in a way
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AI Trade Dominance: Weekly Podcast on Market Trends
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Each week I do a podcast to put together various things in a way that makes sense to me, and, I hope, to investors. And although I recommend stocks for a living, I also think one has to reflect honestly on markets and economies. The fact that so much is tied to the AI trade is a
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Intel Xeon Sales Outlook: Can They Catch Nvidia’s Lead?
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I can believe Intel is on course for much better Xeon sales, but I don’t see it as a game-changer. They lost the game to Nvidia some time ago by taking their eyes off the ball. Intel: It’s not about the foundry, it’s not about packaging Intel shares got a double upgrade
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Tim Cook’s Overlooked Legacy: Apple’s Balance Sheet Transformation
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It’s interesting that few no one is paying attention to the biggest change in Tim Cook’s time at the helm, the balance sheet, gets no attention from media coverage of the succession announcement. I would say a good part of the 15 years of Cook at the helm has been about capital
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Accelsius Portfolio Investment Drives Innventure Stock Surge
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Innventure stock is up over 20% this afternoon as one of its portfolio investments, Accelsius, issued a press release. The overall challenge for Accelsius is a little bit deeper than a press release, as I explore in this exclusive interview with Accelsius CEO Josh Claman.