Core Insights - Nvidia is set to release its quarterly earnings report, with a focus on whether the strong demand for AI products can offset the decline in global computer hardware sales [1] - Nvidia previously projected a revenue growth of approximately two-thirds and a threefold increase in earnings per share for the second fiscal quarter ending July 30, 2024, driven by robust demand for its AI processors [1] - The current supply of Nvidia's H100 AI processors meets only half of the market demand, with expected shipments for next year projected to reach between 1.5 million to 2 million units, a significant increase from the anticipated 500,000 units this year [1] Industry Trends - The demand for Nvidia's AI chips is impacting the broader computing device market, as major buyers are investing heavily in AI while cutting back on investments in the general server market [1] - Foxconn, the world's largest electronics contract manufacturer, anticipates strong demand for AI servers in the coming years, although it warns of a decline in overall server market revenue this year [1] - Lenovo, the leading global PC manufacturer, reported an 8% year-over-year revenue decline due to weak demand from cloud service providers for servers and a shortage of AI processors [1] Cloud Service Providers - Lenovo's CEO noted that cloud service providers are shifting their demand from traditional computers to AI servers, but the supply of AI servers is constrained by GPU shortages [2] - TSMC, the largest chip foundry and exclusive manufacturer of Nvidia's AI processors, expects demand for AI server chips to grow nearly 50% annually over the next five years, but this growth is not enough to offset the downward pressure from the global tech downturn [2] - Major cloud service providers like Microsoft, Amazon, and Google are focusing on building their own AI infrastructure, facing challenges due to the high costs associated with upgrading every component in AI servers [2] Market Projections - TrendForce forecasts a 6% decline in global server shipments this year, with a moderate recovery of 2% to 3% growth expected in 2024 [5] - Companies like Meta and Microsoft are reducing server procurement to invest in AI hardware, with Meta cutting over 10% of its server purchases [5] - Analysts highlight that supply chain bottlenecks, including shortages in advanced packaging and high-bandwidth memory, are limiting the production of AI hardware products [5] Beneficiaries of AI Demand - Foxconn is positioned to benefit from the shift towards AI servers, as it provides a full range of services from components to final assembly, and its subsidiary is the exclusive supplier of Nvidia GPU modules [6] - AI orders have accounted for 50% of revenue for WiWynn, a subsidiary of Foxconn's competitor Wistron, more than doubling from the previous year [6] - PCB manufacturers are also expected to see significant growth, with the revenue share from AI servers projected to rise from less than 3% this year to 38%, as AI servers require seven times more PCBs than general servers [6]

Core Viewpoint - The UK Competition and Markets Authority (CMA) has approved Broadcom's acquisition of VMware after a second-phase investigation, indicating that the deal will not harm competition in the computer server market [1] Group 1: Acquisition Details - Broadcom announced its intention to acquire VMware for approximately $61 billion, marking one of the largest technology deals in history [1] - The acquisition aims to strengthen Broadcom's position as a formidable competitor in the software sector [1] Group 2: Regulatory Investigation - The CMA initially expressed concerns in March about potential negative impacts on market competition, specifically that the deal could make computer servers more expensive for UK businesses [1] - Following a thorough investigation, the CMA concluded that the acquisition would not weaken competition in the computer server market [1] Group 3: Timeline and Extensions - Broadcom and VMware originally planned to complete the transaction by May 26 of this year, but they agreed to extend the deadline by one year to await the outcome of regulatory reviews [1]

Core Viewpoint - Xiaomi is actively advancing humanoid robots in its manufacturing system through a phased approach, aiming to enhance their functionality and application across various industries [1] Group 1: Development Phases of Humanoid Robots - The first phase involves short-term development where Xiaomi's humanoid robots will focus on a specific scenario to validate multiple functions and develop prototypes, iterating necessary hardware and systems [1] - In the mid-term, humanoid robots will be integrated into Xiaomi's manufacturing and smart manufacturing scenarios for industrial validation, building a generalized platform to improve deployment efficiency and accumulate data for model iteration [1] - Long-term goals include using Xiaomi as a model to promote widespread application of humanoid robots beyond 3C and automotive manufacturing, exploring additional scenarios for value realization [1]

在今年的一季度财报中，小米表示，2023年4月，小米集团正式组建AI实验室大模型团队。目前小米AI 领域相关研发人员超1200人。 近日，小米的大语言模型MiLM-6B首次现身C-Eval、CMMLU两大AI模型评测榜单。 资料显示，MiLM-6B是由小米开发的一个大规模预训练语言模型，参数规模为64亿。截至当前， MiLM-6B在C-Eval总榜单排名第10、同参数量级排名第1，在CMMLU中文向大模型排名第1。 ...

Core Points - The California Institute of Technology (Caltech) has reached a "tentative settlement agreement" with Apple and Qualcomm regarding a patent infringement lawsuit related to wireless communication chips used in electronic devices [1] - In a previous trial in 2020, Caltech won a judgment requiring Apple to pay $837.8 million and Qualcomm to pay $270 million, totaling over $1.1 billion in damages, but this ruling was overturned by an appellate court in 2021 [2] - The retrial originally scheduled for June 2023 was indefinitely postponed, and Caltech has also reached a settlement with Samsung Electronics regarding similar patent infringement claims [3] Summary by Sections Lawsuit Background - Caltech filed a lawsuit against Apple and Qualcomm in 2016, claiming that wireless communication chips used in millions of Apple devices infringed on its patents [1] - Other companies, including Microsoft, Dell, HP, and Samsung, have also faced similar lawsuits from Caltech for patent infringement [3] Legal Proceedings - The initial ruling in 2020 favored Caltech, leading to significant financial penalties for Apple and Qualcomm, but the appellate court later deemed the damages legally unsound, prompting a retrial [2] - The court has requested further status reports from the parties involved by August 18 [1] Current Developments - The details of the tentative settlement agreement between Caltech, Apple, and Qualcomm remain undisclosed, and it is unclear if both companies are included in the settlement [1] - Ongoing litigation continues between Caltech and Microsoft, HP, and Dell regarding patent infringement [4]

Core Viewpoint - GQG Partners significantly increased its investment in Nvidia during Q2 2023, reflecting confidence in the company's growth potential driven by generative AI technology [1] Investment Details - GQG Partners invested a total of $5.9 billion in Nvidia by the end of June 2023 [1] - The firm holds 13.9 million shares of Nvidia, an increase of 5.7 million shares from the end of Q1 2023 [1] Market Performance - Nvidia's stock price has surged approximately 180% this year, leading to a market capitalization exceeding $1 trillion, making it the first chip manufacturer to reach this valuation [1] Other Investments - GQG Partners also increased its stake in Amazon by about $2 billion and expanded investments in Alphabet, Apple, and Microsoft [1] Company Overview - GQG Partners is based in Florida and manages $108 billion in assets [1]

Core Viewpoint - Arm Ltd. is preparing for an IPO in the U.S., with Apple and Samsung expected to invest in the company [1] Group 1: IPO Details - Arm plans to go public as early as September, targeting a valuation of at least $60 billion [1] - The company aims to raise up to $10 billion through the IPO [1] Group 2: Investor Engagement - Arm is in discussions with companies like Intel and Nvidia to act as cornerstone investors in the stock issuance [1] - SoftBank Vision Fund, which holds a 25% stake in Arm, plans to sell 10% to 15% of its shares in the public market [1]

在美国一家研究中心驳斥了近期有关韩国在超导技术上取得突破的说法后，被认为与超导相关的韩国股 票抹去涨幅，周二尾盘下跌。 "我们深感悲痛，现在认为这件事已经结束了。LK-99不是超导体，"马里兰州大学凝聚态理论中心在社 交媒体平台X（原名推特）上表示，"这是一种电阻极高的劣质材料。" 另外，韩国金融监督院院长对该题材部分股份近期过度飙升和保证金交易增加表示担忧。 Sunam Co．跌到30%的跌停板，早前一度上涨22%； Duksung收盘下跌29%，之前一度上涨24%； Mobiis下跌26%，之前一度上涨22%； Shinsung Delta Tech收低6.5%，之前一度上涨30%而涨停； ...

Group 1 - The core concern is the decline in U.S. chip stocks, particularly due to AMD's disappointing revenue forecast, raising worries about the fragility of the PC market and slowing corporate spending [1][2] - AMD's projected Q3 revenue is $5.7 billion, below analysts' expectations of $5.81 billion, with a 54% decline in its client segment revenue attributed to a weak PC market [3][4] - Semiconductor companies are leading the decline in tech stocks, influenced by Fitch Ratings downgrading the U.S. long-term foreign currency issuer default rating from AAA to AA+, citing expected deterioration in fiscal conditions over the next three years [3] Group 2 - The Nasdaq index fell by 2.1%, marking its second-largest drop of the year, following AMD's earnings report [4] - AMD's CEO Lisa Su indicated that the company is emerging from a "turbulent period" in the PC industry, with expectations for growth in the second half of the year [4] - AMD is one of the few companies producing high-end GPUs necessary for artificial intelligence, and analysts are monitoring its server chips for potential market share gains against Intel [4] - AMD is collaborating closely with partners like Microsoft to leverage AI, enhancing productivity through computing [4] - In Q2, AMD launched a new chip aimed at building and running AI models similar to OpenAI's ChatGPT, with MI300X chips currently being sampled to customers and production expected to ramp up in Q4 [4][5]

Core Points - The European Union (EU) has initiated an antitrust investigation into Microsoft's bundling of its Teams application with other Office applications, marking the first such investigation in over a decade [1] - The EU Commission is concerned that Microsoft's practices may constitute anti-competitive bundling, potentially hindering competition in the office communication and video application market [1][2] - If found in violation of EU antitrust regulations, Microsoft could face fines of up to 10% of its global annual revenue [1] Summary by Sections - **Antitrust Investigation**: The EU's investigation focuses on whether Microsoft provides a distribution advantage to Teams by not allowing users to opt-out of the application when purchasing the Microsoft 365 suite [1] - **Previous Complaints**: Concerns about Teams' potential monopoly first arose in 2020 when Slack, a competitor, filed a complaint with the EU, claiming that Microsoft's bundling practices forced millions of users to install Teams without the option to remove it [2] - **Microsoft's Response**: A Microsoft spokesperson stated that the company respects the EU's work on the case and is committed to cooperating with the EU Commission to address its concerns [2] - **Historical Context**: The last time Microsoft faced an EU antitrust investigation was in 2009 regarding its Internet Explorer browser, which was also bundled with the Windows operating system [2] - **Recent Transactions**: Microsoft's recent $69 billion acquisition of Activision Blizzard is also under EU scrutiny due to potential impacts on competition in the gaming console and cloud gaming markets [2]