Key Points TSMC reported earnings for the fourth quarter that beat analysts’ expectations. The company works closely with Nvidia and other chip designers. 10 stocks we like better than Nvidia › Nvidia (NASDAQ: NVDA) has been one of the most successful tech companies on the planet in recent years. This is because the company noticed the potential of artificial intelligence (AI) early on and decided to take action. Nvidia focused the design of its graphics processing units (GPUs) to serve the needs of ...

Group 1 - The article highlights the expertise of a consulting specialist at a leading Central Asian bank, emphasizing their experience in delivering strategic insights and analysis for private banking clients [1] - The author of Novo Capital has developed a resilient methodology focused on corporate valuation, due diligence for investment opportunities, and crafting accurate forecasts to guide long-term investment strategies [1] - Novo Capital was created to provide out-of-consensus information and ideas worth discussing, aiming to help investors gain "alpha" in their investment decisions [1]

Group 1 - Worthington Steel held an investor call on January 16, featuring key executives including the President and CEO, Geoff Gilmore, and CFO, Tim Adams [2] - The call included a safe harbor statement, indicating that certain forward-looking statements are subject to risks and uncertainties [3]

Group 1 - The semiconductor sector in the US stock market experienced a collective increase on Friday, with notable gains among several companies [1] - Astera Labs (ALAB.US) saw a rise of over 6%, while United Microelectronics (UMC.US) increased by more than 5.8% [1] - Advanced Micro Devices (AMD.US) and Marvell Technology (MRVL.US) both rose by 1.9%, Broadcom (AVGO.US) increased by 0.9%, and Nvidia (NVDA.US) saw a gain of 0.48% [1]

Core Viewpoint - Riot Platforms has entered into a significant lease agreement with AMD to host AI computers, marking a strategic move to enhance its data center capabilities and revenue potential [1][3]. Group 1: Lease Agreement and Financials - Riot has signed a lease agreement with AMD for 25 MW of capacity, valued at $311 million over a 10-year period [1]. - If AMD exercises its options for three five-year extensions, the total value of the deal could reach approximately $1 billion [3]. - Riot anticipates that the initial deployment will generate around $25 million in annual net operating income [3]. Group 2: Property Acquisition and Infrastructure - Riot purchased a 200-acre property for its Rockdale data center for $96 million, securing full ownership of the land and power rights [2]. - The property includes a 700 MW interconnection to the power grid, which Riot plans to utilize for data center tenants over time [2][5]. - Riot estimates that the capital expenditures for retrofitting an existing building at the Rockdale site to meet AMD's specifications will be $89.8 million, or $3.6 million per MW [4]. Group 3: Operational Plans and Capacity - Riot plans to start delivering the contracted capacity in January 2026, with a target completion date of May 2026 [4]. - The company currently owns 1.7 gigawatts of power capacity across its Rockdale and Corsicana facilities [5]. - Riot intends to convert the full 700 MW of gross power capacity at Rockdale for data center tenants over time [5].

分组1 - The focus is on uncovering high-yield investment opportunities for individual investors [1] - The goal is to simplify complex concepts into actionable insights for better returns [1] 分组2 - The article expresses the author's personal opinions and does not involve compensation from companies mentioned [2] - There is a beneficial long position in AMD shares, indicating a positive outlook on the stock [2]

Rockdale Site Acquisition - Riot acquired 200 acres of land in Rockdale for $96 million, funded by selling 1,080 bitcoin[8, 10] - The acquisition unlocks the ability to fully utilize Rockdale's 700 MW power capacity for data center leasing[10, 11] - Eliminating the ground lease saves approximately $130 million[8, 11] AMD Data Center Lease - Riot executed a data center lease with AMD for an initial capacity of 25 MW, expandable to 200 MW[8, 13] - The contract value is $311 million over the initial 10-year term[8, 13] - The initial 25 MW will be delivered in two phases, starting in January 2026 and completed in May 2026[8, 13, 15] - The lease is expected to generate $25 million in annual NOI[13] Financial Position and Funding - Riot has $406 million in total cash and 18,005 bitcoin valued at $1.7 billion as of late 2025/early 2026[19] - The company plans to fund data center initiatives primarily through the sale of bitcoin[21] - An illustrative 3,134 BTC held on the balance sheet are required to be sold for project equity financing for current developments[21] Data Center Growth and Valuation - Riot is building a 1 GW+ critical IT leasing pipeline[25, 26] - The total portfolio NOI range is estimated at $1.6-2.1 billion[27] - Riot currently trades among the lowest EV/MW multiples in the sector[31]

Core Viewpoint - Advanced Micro Devices (AMD) has experienced an 11% rise in stock price recently, reaching $228, but a multi-faceted analysis suggests it may be wise to reduce exposure due to potential corrections towards a $162 price point [2][3]. Group 1: Valuation and Market Dynamics - AMD is currently facing a high valuation in a cyclical semiconductor market, which leaves little room for error if demand fluctuates [3]. - The company is considered relatively expensive due to its very high valuation despite strong operating performance and financial health [4]. Group 2: Competitive Pressure - AMD is under intense competition from Nvidia and Intel, both of which are actively defending their market share in data centers and consumer computing [3]. Group 3: Strategic and Operational Risks - The success of AMD is heavily reliant on the execution of its AI strategy and the stability of complex global supply chains [3]. Group 4: Geopolitical Friction - As a global chipmaker, AMD is vulnerable to geopolitical shifts, particularly tightening export controls to China, which could impact a significant revenue stream [4]. Group 5: Financial Performance - AMD's revenue has grown at an average rate of 12.9% over the last three years, with a 32% increase from $24 billion to $32 billion in the last 12 months [6]. - Quarterly revenues rose by 35.6% to $9.2 billion from $6.8 billion a year earlier [6]. - The operating income over the last 12 months was $3.0 billion, indicating an operating margin of 9.4% [7]. - AMD generated nearly $6.4 billion in operating cash flow during this timeframe, with a cash flow margin of 20.0% [7]. Group 6: Financial Stability - AMD's debt stood at $3.9 billion, resulting in a debt-to-equity ratio of 1.0% [10]. - The cash-to-assets ratio is 9.4%, with cash and cash equivalents constituting $7.2 billion of $77 billion in total assets [10]. Group 7: Historical Stock Performance - AMD stock has shown significant volatility, plummeting 65.4% from a high of $161.91 in November 2021 to $55.94 in October 2022, while the S&P 500 experienced a peak-to-trough decline of 25.4% [11]. - The stock rebounded to its pre-crisis peak by January 2024 and reached a high of $264.33 in October 2025, currently trading at $227.92 [11].

Core Insights - Riot Platforms has completed the acquisition of full ownership of a 200-acre site in Rockdale, Texas, and signed a data center lease agreement with AMD [1] Group 1: Acquisition Details - The acquisition was financed by selling approximately 1,080 BTC, totaling around $96 million [1] - The lease agreement with AMD includes an initial capacity of 25 MW for a duration of 10 years, with expected delivery between January and May 2026 [1] Group 2: Financial Implications - The contract value with AMD is approximately $311 million, with potential expansion and extension options that could increase the total capacity to 200 MW and the total value to around $1 billion [1]

Core Viewpoint - Riot Platforms' stock price increased over 7% to $17.75 following the announcement of a data center leasing agreement with AMD, which is expected to generate significant revenue [1] Group 1: Company Developments - Riot Platforms signed a data center leasing agreement with AMD in Rockdale, which includes the deployment of an initial capacity of 25 megawatts [1] - The agreement has the potential to expand up to 200 megawatts, indicating significant growth opportunities for the company [1] - The deal is projected to bring in $311 million in contract revenue, highlighting the financial impact of this partnership [1]