How do you say CHIPS act* in one chart?
Not all fiscal policy has to be a bad thing... this could indeed lead to a big increase in the productivity we will see over the coming years due to this. Source: Ryan Detrick, Carson * CHIPS Act -> In July 2022, Congress passed the CHIPS Act of 2022 to strengthen domestic semiconductor manufacturing, design and research, fortify the economy and national security, and reinforce America’s chip supply chains. The share of modern semiconductor manufacturing capacity located in the U.S. has eroded from 37% in 1990 to 12% today, mostly because other countries’ governments have invested ambitiously in chip manufacturing incentives and the U.S. government has not. Meanwhile, federal investments in chip research have held flat as a share of GDP, while other countries have significantly ramped up research investments. To address these challenges, Congress passed the CHIPS Act of 2022, which includes semiconductor manufacturing grants, research investments, and an investment tax credit for chip manufacturing. SIA also supports enactment of an investment tax credit for semiconductor design.
Google and YouTube continue to lead in internet traffic, amassing over 115 billion combined visits in the last month
This figure is more than triple the combined visits to Facebook's family of products, Twitter, Baidu, Amazon, and ChatGPT. Source: Beth Kindig $GOOGL $META $BIDU $AMZN $MSFT
Nvidia quarterly report lifts earnings estimates support for mega-cap tech valuations, i.e nvdia / "mag 7" are trading cheaper AFTER Nvidia blowout results
Source: Macrobond, TME
Hedge Fund exposure to the Magnificent Seven is quite high, according to data from Goldman Sachs
Source: Markets Mayhem
In the weeks leading up to his shocking ouster from OpenAI, Sam Altman was actively working to raise billions from some of the world’s largest investors for a new chip venture
(according to people familiar with the matter) Code-named Tigris, Sam planned to spin up an AI-focused chip company that could produce semiconductors that compete against those from $NVDA The goal is to provide lower-cost competition to market incumbent Nvidia and aid OpenAI by lowering the ongoing costs of running its own services like ChatGPT and Dall-E - Bloomberg Source: Cheddar Flow
Nvidia indicated that the latest round of China restrictions will not have a meaningful impact on its business
It’s possible that this is because China frontloaded its GPU orders earlier this year in anticipation of these restrictions. It’s also possible that any lost revenue from China will be made up for by tremendous revenue growth in developed markets. Guidance for the January quarter might be indicative here. Source: Morningstar
Microsoft announces custom AI chip that could compete with Nvidia
- Microsoft is introducing its first chip for AI, along with an Arm-based chip for general-purpose computing jobs. - Both will come to Microsoft’s Azure cloud, Microsoft said at its Ignite conference in Seattle. -mThe Graviton Arm chip that cloud leader Amazon Web Services introduced five years ago has gained broad adoption. Source: CNBC, Stocktwits
No buyers left? hedge fund net exposure to magnificent 7 was 12% at the start of the year. It is now 99%...
Source: Goldman Sachs, www.zerohedge.com
