🚨 TSMC’s Growth Just Slowed — and the Entire AI Supply Chain Is Watching
Bloomberg reports TSMC’s October sales rose 16.9% — still strong, but slower than the recent surge. Why it matters: TSMC sits at the choke point of advanced chips. When it slows, the ripple hits GPUs, memory, packaging, the whole AI stack. 📉 A slowdown in monthly sales doesn’t always mean weak demand. It can be: - Order timing (customers shifting deliveries) - Yield ramps (new node transitions) - Inventory digestion (buyers catching up) But zoom out… 💰 Cloud giants plan to spend >$400B on AI infrastructure next year — a 21% jump. That money flows straight into NVIDIA GPUs, high-bandwidth memory, advanced packaging, and TSMC’s cutting-edge wafers. 🗣️ NVIDIA’s CEO says demand is “getting stronger month by month” and even met with TSMC’s CEO to ask for more capacity. Translation: supply, not demand, is still the bottleneck. TSMC also builds for AMD, Qualcomm, and Apple — so who gets priority at the fab affects entire product launches. 🎯 The company says capacity is “very tight,” and chip designers are literally chasing slots in Hsinchu. Source: Bloomberg, Rohan Paul @rohanpaul_ai
Elon predicts that OpenAI will eat Microsoft alive and believes MSFT should stop supporting it.
Source: The AI Investor @The_AI_Investor
$AMD is the second best performing position over the last 10 Years in the S&P 500
Source: Charlie Bilello
You can't print energy...
zerohedge: "The money is not the problem: AI is the new global arms race, and Capex will eventually be funded by governments (US and China). If you want to know why gold/silver/bitcoin is soaring, it's the "debasement" to fund the AI arms race. But you can't print energy".
UK house prices rose at the fastest rate last month since January.
Source: Financial Times
World's Most Valuable Assets
Source: Compounding Dividends
US companies announced 153k job cuts in October, a 175% increase from a year ago.
This was the highest number of layoffs for any October in over 20 years and the most for any single month in Q4 since 2008. Source: Charlie Bilello, LSEG
The best performing stocks in the S&P 500 this year...
Source: Charlie Bilello
