6 Min Read
Nvidia raised its buyback authorization by $150B, beating Apple's $110B record, and the stock rose 2.64% as chip stocks fell. But it generated $21.3B of free cash flow last quarter, and its customers are paying more slowly.
NVDA · Since The Event− 4.03%Read7 Min Read
Muse topped the App Store on September 18. Three days later Intel, Arm and AMD were repriced without a single announcement; AMD touched $1 trillion intraday and the Nasdaq closed at a record.
Late 2023, annualized pace2026, annualized pace
9 Min Read
The 25% duty in force since January reaches only chips that clear a technical threshold, while the rack carrying that chip enters duty-free. Politico reported on August 27 that the administration is weighing a wider definition.
NVDA · Since The Event+ 3.02%Read9 Min Read
AMD just did the largest bond sale in its history while holding four times as much cash as debt. The answer is not in the interest line but in the warehouse — the working capital of a chip designer that now sells racks.
10 Min Read
Intel announced a $15 billion share sale on Monday and the stock fell 5%. By early Tuesday the deal had been upsized to $20 billion and priced at $95 — and the real question is why the fab this money buys has to be committed before the customer is.
9 Min Read
AMD acquired Toronto-based Taalas, whose chips etch model weights directly into the die. The next day AMD fell 2% and Nvidia rose 4% — here is the arithmetic behind that inversion, and behind the memory wall it targets.
9 Min Read
Microsoft disclosed for the first time what OpenAI pays it: $24.1 billion in fiscal 2026, with $6.0 billion still outstanding. The number shows that more than two-thirds of its AI revenue rests on a single customer — one it also part-owns.
