For so many years, Wall Street treated Advanced Micro Devices (AMD) as the little brother of Intel (INTC). Specifically, the type of siblings that fight all the time. AMD was the challenger, and there were many instances when Wall Street analysts wondered if it would survive. Skip ahead a couple of decades, and while INTC is now 10% owned by the U.S. government, AMD is a $400 billion stock in its own right. That’s more than double the value of INTC. Yet a lot of that ascension came in a very short amount ...

Core Insights - The article highlights the top-performing leveraged and inverse ETFs for the past week, emphasizing the volatility associated with these funds due to their leverage [1]. Performance Summary - **ProShares UltraShort Bitcoin ETF (SBIT)**: Achieved a weekly return of 19.93%, driven by a decline in Bitcoin's price amid fears of a tech bubble and reduced expectations for a US rate cut [2]. - **ProShares UltraShort Ether ETF (ETHD)**: Recorded a 19.41% weekly gain, influenced by similar market conditions affecting Ethereum, including a drop in price due to interest rate cut expectations [3]. - **Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL)**: Returned 15.80%, boosted by news of a proposed US government rule change expanding healthcare coverage for weight-loss drugs [3]. - **MicroSectors Gold Miners 3X Leveraged ETN (GDXU)**: Gained 14.30% as gold prices rebounded, supported by soft US employment figures and speculation about a Federal Reserve interest rate cut [4]. - **Direxion Daily S&P Biotech Bull 3x Shares (LABU)**: Increased by 13.70%, driven by strong revenue reports from companies like Nutex Health and positive trends in the biotech sector [5]. - **MicroSectors U.S. Big Oil 3X Leveraged ETN (NRGU)**: Achieved a return of 11.90%, influenced by sanctions on Russian oil and updates regarding the Fed Chair search [6]. - **Direxion Daily Healthcare Bull 3x Shares (CURE)**: Gained approximately 11.70%, reflecting the healthcare sector's overall performance [6]. - **MicroSectors Energy 3X Leveraged ETNs (WTIU)**: Returned 11.39%, with oil prices climbing due to geopolitical factors [6]. - **AXS TSLA Bear Daily ETF (TSLQ)**: Provided inverse exposure with nearly 11% weekly returns, as Tesla's stock faced challenges from CEO compensation concerns and declining sales [7]. - **GraniteShares 2x Long AMD Daily ETF (AMDL)**: Achieved over 10% weekly gains, following AMD's announcement of a $100 billion annual data-center revenue target [7].

Core Insights - A joint venture between AMD, Cisco, and HUMAIN aims to establish up to 1 GW of AI infrastructure by 2030, starting with a 100 MW deployment in Saudi Arabia [2][3][6] - The collaboration seeks to enhance Saudi Arabia's position as a leading provider of AI solutions for both regional and global markets [2][5] Company Collaboration - AMD, Cisco, and HUMAIN will act as founding investors and exclusive technology partners in the joint venture, combining HUMAIN's data centers with AMD and Cisco technologies [3][6] - The first phase of the project will focus on building 100 MW of AI infrastructure, utilizing AMD Instinct™ MI450 Series GPUs and Cisco's critical infrastructure solutions [4][6] Strategic Goals - The initiative is part of a broader ambition to create a dynamic, AI-driven economy in Saudi Arabia, addressing the urgent need for scalable, high-performance AI infrastructure [5][7] - Cisco's AI Readiness Index indicates that while 91% of Saudi organizations plan to deploy AI agents, only 29% currently possess robust GPU capacity, highlighting the necessity for advanced data center infrastructure [5][7] Future Operations - The joint venture is expected to commence operations in 2026, with plans to expand capacity to multiple gigawatts as part of HUMAIN's overall strategy [6][7] - The collaboration aims to localize innovation, talent, and technology within Saudi Arabia, strengthening the foundations of the digital economy [7]

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Group 1: Economic Insights - Bank of Canada Deputy Governor Sharon Vincent highlighted the urgency of Canada's weak productivity, describing it as a systemic issue that creates a vicious circle affecting economic goals [2][8] - Vincent emphasized that higher productivity is essential for increasing incomes and maintaining stable inflation, linking labor costs and productivity to inflationary pressures [2][8] Group 2: U.S. Job Market Developments - The U.S. Bureau of Labor Statistics canceled the October 2025 Employment Situation Release and rescheduled other key jobs reports, leading to a decline in market expectations for a December Fed rate cut [3][8] Group 3: Corporate Investments - Novartis AG announced a $23 billion investment in U.S. infrastructure over the next five years, including a new manufacturing hub in North Carolina aimed at producing 100% of its key medicines domestically [4][8] - Saudi Aramco signed 17 MOUs and agreements with U.S. companies, with a potential value exceeding $30 billion, focusing on sectors such as LNG and advanced materials manufacturing [5][8] - A joint venture was launched by AMD, Cisco, and Humain to build 100MW data centers [5][8]

Core Insights - Nvidia is expected to report strong earnings, with a beat and raise anticipated due to high demand for AI data center products [2][11] - The AI data center market is experiencing a fundamental shift, with workloads evolving from traditional applications to AI-centric tasks, leading to increased demand for Nvidia's GPUs [4][11] Group 1: Earnings Expectations - Analysts are eagerly awaiting Nvidia's earnings call, expecting it to outperform and raise guidance [2] - Nvidia's supply of GPUs is still unable to meet the high demand, particularly in the AI data center segment [4][5] Group 2: Product Performance - Nvidia's new Blackwell Ultra GPU architecture is reported to be significantly more efficient, offering 10 times the performance per dollar and per watt compared to the previous Hopper architecture [7] - The introduction of the Blackwell Ultra is expected to have a substantial positive impact on Nvidia's earnings [7] Group 3: Competitive Landscape - AMD is gaining traction in the AI data center market, with expectations of growth in their market share due to new product offerings [9] - Despite AMD's advancements, Nvidia maintains a strong competitive position, particularly with the Blackwell Ultra architecture [11] Group 4: Market Dynamics - Nvidia's market share in China has decreased, but strong demand in the US and other regions is expected to mitigate any negative impact on earnings [10][11] - The overall AI data center market is expanding, benefiting both Nvidia and AMD as they cater to increasing demand [9]

格隆汇11月20日｜据路透，AMD(AMD.US)、思科(CSCO.US)和沙特阿拉伯人工智能初创公司Humain的 首席执行官表示，三家公司正在成立一家合资企业，在中东建设数据中心，并且已经获得了他们的第一 个客户。据Humain首席执行官Tareq Amin称，这家尚未命名的合资企业将从沙特阿拉伯的一个100兆瓦 数据中心项目开始启动，Humain已签约向生成式视频初创公司LumaAI提供该项目的计算能力。项目的 规模和第一位客户此前尚未被报道。Amin说："他们将是这个集群的第一个客户，"并补充说Luma已签 约购买全部100兆瓦的容量。Amin表示，该合资企业旨在服务一个包括亚洲、欧洲、印度、中东和非洲 在内的市场，总市场规模约为45亿人。计划包括到2030年建设高达1吉瓦的新数据中心以支持该合资企 业。对于最初的100兆瓦建设项目，思科将提供网络设备和其他基础设施，AMD将提供其MI 450 AI芯 片。 ...

Group 1 - Advanced Micro Devices, Cisco Systems, and Saudi Arabian artificial intelligence startup Humain are forming a joint venture to build data centers in the Middle East [1] - The joint venture has secured its first customer, indicating early traction in the market [1]

Core Insights - Advanced Micro Devices (AMD), Cisco Systems, and Saudi Arabian startup Humain are forming a joint venture to establish data centers in the Middle East, with their first customer being generative video startup Luma AI [1][2] Group 1: Joint Venture Details - The joint venture will initiate with a 100-megawatt data center project in Saudi Arabia, with Luma AI contracted to purchase the entire capacity [2] - The collaboration is a result of deals made during U.S. President Donald Trump's visit to Riyadh in May, with further collaboration expected following meetings between Saudi Crown Prince Mohammed bin Salman and Trump [3] - AMD and Cisco will be minority shareholders in the joint venture, with Humain taking the lead in operations [4] Group 2: Market and Future Plans - The joint venture aims to serve a market encompassing Asia, Europe, India, the Middle East, and Africa, totaling approximately 4.5 billion people [5] - Plans include constructing up to one gigawatt of new data centers by 2030 to support the joint venture [5] Group 3: Infrastructure and Construction - For the initial 100-megawatt buildout, Cisco will supply networking equipment, while AMD will provide MI450 AI chips, with construction planned to begin in 2026 using renewable energy [6] - Cisco will leverage its salesforce to assist in selling capacity in the new data centers, drawing on its 25-year history of creating incentives for sales teams [7]

Earnings Performance & Expectations - AMD's earnings have consistently surpassed expectations for the past five years, with analysts projecting an 18.7% increase in 2025 and a significant 54% jump thereafter [3][4] - McDonald's has a strong earnings surprise track record, but earnings growth is expected to be slower, with 5.1% in 2025 and 8.4% in 2026 [6][7] - Qualcomm demonstrates a great earning surprise track record, with earnings expected to increase by 16.3% in 2025, but no growth is expected in 2026 [9][10] - Ralph Lauren exhibits a strong earnings track record, with analysts anticipating a 21.6% increase this year, followed by 9% in 2026 [13][15] - Ino Data, a small-cap AI play, has shown four consecutive big beats, but earnings are expected to be down 12.4% this year, followed by a significant gain of 39.7% in 2026 [17][18] Valuation & Market Sentiment - AMD's stock is trading at 65 times earnings, with investors seemingly unconcerned about valuations in the AI sector for now [4][5] - McDonald's is trading at a PE of 24 times, which is considered fairly expensive for its single-digit earnings growth [8] - Qualcomm is trading at a PE of 15 times, considered cheap for a tech AI play [12] - Ralph Lauren is trading at 21.3 times forward earnings, which is not super stretched if it achieves its projected earnings growth [16] - Ino Data has a high PE of 96 times following a recent breakout [18] Key Factors & Challenges - Tariffs are a significant issue for retailers like Ralph Lauren, impacting sourcing and pricing strategies [13][14] - McDonald's is facing investor concerns about its ability to execute, particularly regarding the effectiveness of its value menu [8] - Qualcomm's potential for earnings growth is tied to its new rack scale performance and memory capacity for data center AIs [11] - The consumer's willingness to absorb price increases due to tariffs is a key concern for retailers [14]