Earnings
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Microsoft Earnings, Apple Earnings
Microsoft unveils its new agentic business model, and Apple confronts shortages in memory and chips even as the Mac benefits from AI.
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Amazon Earnings, Trainium and Commodity Markets, Additional Amazon Notes
Amazon’s earnings suggest that the shift away from training towards inference and agents means their bet on Trainium is paying off. Plus, additional notes on ads, agents, and sports rights.
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Intel Earnings, Intel’s Differentiation?, Whither Terafab
Intel’s earnings were very impressive, but the chief driver was a structural shift in demand for CPUs for AI. Plus, what is going on with Terafab?
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TSMC Earnings, New N3 Fabs, The Nvidia Ramp
TSMC’s earnings suggest that the company’s leadership is not truly bought into the AI growth story.
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Oracle Earnings, Oracle’s Cloud Growth, Oracle’s Software Defense
Oracle crushed earnings in a way that not only speaks to the secular AI wave they are riding but also to Oracle’s strong position
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Anthropic’s Skyrocketing Revenue, A Contract Compromise?, Nvidia Earnings
Anthropic’s enterprise business is reaching escape velocity, which increases the importance of finding a compromise with the government. Then, agents dramatically increase demand for Nvidia chips, even if they threaten software.
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Shopify Earnings, Shopify’s AI Advantages
Shopify is poised to be one of the biggest winners from AI; it would behoove investors to actually understand the businesses they are selling.
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Spotify Earnings, Individualized Networks, AI and Aggregation
Spotify’s nature as a content network means that AI is a sustaining technology, particularly because they have the right business model in place.