Core Insights - Data center spending by major tech companies is projected to grow nearly 32% to $650 billion, indicating a significant opportunity in the AI hardware market [1] - Semiconductors are essential for all computing devices, making them a critical investment focus in the tech industry [2] Company Overview - Taiwan Semiconductor Manufacturing Company (TSMC) is a leading player in the semiconductor industry, dominating the foundry market with a 72% market share [6] - TSMC's major clients include Apple and Nvidia, with the latter's Blackwell chips being manufactured at TSMC's Arizona facility [5] Financial Performance - In Q4 2025, TSMC reported net revenue of $33.75 billion, a 25.5% increase year-over-year, with earnings per share climbing 35% [8] - The company's gross margin increased by 3.3 points to 62.3%, and its operating margin grew by 5 points to 54% [9] Revenue Sources - 77% of TSMC's revenue comes from advanced chips (7 nanometers or smaller), which are crucial for AI applications [9] - The high-power computing segment, including AI chips, is the fastest-growing revenue source, up 48% and accounting for 58% of TSMC's revenue in 2025 [10] Expansion Plans - TSMC is set to invest $100 billion to expand its manufacturing facilities in the U.S. as part of a trade deal with Taiwan [7] - The company has cash and cash equivalents totaling $97 billion, with total liabilities of $78.2 billion, indicating strong financial health [11]

Performance Overview - River Oaks Capital's performance since inception shows a return of 73.7% compared to benchmarks like Russell 2000 TR at 61.2% and S&P 500 TR at 132.2% [2] Investment Philosophy - The investment strategy focuses on identifying small, underfollowed public companies that are undervalued and have strong management teams [7][10] - The approach emphasizes rigorous due diligence and active engagement with management to enhance shareholder value [11][12] Company Strategies - **Ascent Industries (ACNT)**: A specialty chemical manufacturer with a market cap of $150 million, focusing on transforming into a 'Chemicals-as-a-Service' model to serve small to mid-size customers [60][88] - **BuildDirect (BILD.V)**: A flooring company with a market cap of $90 million, pursuing a strategy to consolidate the professional flooring industry through acquisitions, aiming for 75+ centers [89][92] - **Truxton Trust (TRUX)**: A financial institution maintaining low operational costs while generating consistent free cash flow, operating efficiently like a private company [40][42] Recent Developments - Ascent Industries has improved gross margins from 5% to ~30% by adjusting pricing and focusing on higher-margin product sales [74][86] - BuildDirect's recent acquisition of Greyn Custom Wood is expected to generate significant incremental revenue and cost savings, enhancing its market position [92][94] Capital Allocation - Ascent Industries plans to utilize its $60 million cash balance for growth investments, share buybacks, and disciplined acquisitions [83][88] - BuildDirect is positioned to grow revenue significantly through strategic acquisitions and operational improvements, targeting a revenue of ~$165 million in the next 2-3 years [110] Market Conditions - The flooring industry is currently experiencing a downturn, leading to lower acquisition prices for professional centers, which presents a favorable environment for strategic acquisitions [102][103]

Core Insights - Coupang Inc. reported record annual sales of 49.1 trillion won ($36.8 billion) in 2025, marking a 14% increase from the previous year [1] - Despite annual gains, fourth-quarter operating profit plummeted 97% due to a personal data breach in December, leading to a quarterly net loss of 37.7 billion won ($28.3 million) [1] Financial Performance - Annual revenue rose to 49.1 trillion won ($36.8 billion), up from 41.3 trillion won ($30.9 billion) the previous year, with a constant currency increase of 18% [1] - Annual operating profit reached 679 billion won ($509 million), an 8% increase from 602.3 billion won ($451 million) in the prior year [1] - Net income for the year totaled 303 billion won ($227 million), more than tripling from the previous year [1] - Fourth-quarter revenue increased 11% year-on-year to 12.81 trillion won ($9.61 billion) but fell 5% from the previous quarter [1] Operational Challenges - Operating profit for Q4 dropped to 11.5 billion won ($8.6 million) from 435.3 billion won ($326 million) a year earlier, with an operating margin of 0.09% [1] - The December data breach negatively impacted revenue growth, active customer numbers, and profitability, although recovery began in the first quarter [1] - Active customers in the product commerce segment totaled 24.6 million in Q4, up 8% year-on-year but down 100,000 from the previous quarter [1] Segment Performance - Product commerce revenue for Q4 was 10.74 trillion won ($8.06 billion), an 8% increase year-on-year [1] - Growth businesses, including Farfetch and Coupang Eats, generated revenue of 2.07 trillion won ($1.55 billion), up 32%, but recorded an adjusted EBITDA loss of 434.9 billion won ($326 million) [1] - Revenue per active customer rose 3% on a constant currency basis to $301 (436,400 won) [1] Cash Flow and Share Repurchase - Operating cash flow for the year decreased to $1.8 billion from $1.91 billion, while free cash flow fell to $527 million from $1.02 billion [1] - The company repurchased 5.9 million shares of Class A common stock for $162 million last year [1]

The Pentagon on Friday declared Anthropic as a Supply Chain Risk after US President Donald Trump ordered government agencies of his country to stop using the AI startup's products, effectively capping the feud between the startup and the US military over guardrails on its technology.Defense Secretary Pete Hegseth in a post announced the decision, asking the Pentagon to stop its contractors and their partners from doing any kind of business with Anthropic.“In conjunction with the President's directive for th ...

Core Insights - Block CEO Jack Dorsey announced a layoff of 40% of the workforce, attributing the decision to advancements in AI technology [3][10] - The layoffs, affecting 4,000 employees, have raised concerns about the impact of AI on job security across the tech industry [7][8] Company Developments - Prior to the layoffs, employees were actively engaging with AI tools, with some expressing a celebratory attitude towards the technology [1][6] - Dorsey emphasized that a smaller team utilizing AI tools could achieve more efficient results during an earnings call [3][10] - Following the layoff announcement, Block's stock saw a significant increase of nearly 17% on the day, indicating investor support for the cost-cutting narrative [10] Employee Sentiment - Many employees were surprised by the scale of the layoffs, as they believed AI could not yet fully replace human roles [6][8] - During a video call addressing the layoffs, Dorsey received mixed reactions from employees, including emojis expressing discontent [4][5] - Some former employees noted that despite embracing AI, they felt it required human oversight and were shocked by the sudden job cuts [12][16] Industry Context - The layoffs at Block have sparked discussions about a potential wave of job cuts in the tech industry due to AI advancements, with other companies like Amazon and Salesforce also indicating similar trends [7][8] - Skepticism exists regarding the true role of AI in the layoffs, with some experts suggesting that pandemic overhiring may have been a more significant factor [14][15] - The situation reflects broader concerns about job security in white-collar roles as companies increasingly adopt AI technologies [8][16]

Core Insights - Approximately 160,000 borrowers are set to qualify for automatic student loan forgiveness due to attending schools involved in misconduct, with notifications expected by March 29, 2026 [1] - The Department of Education is expediting the processing of borrower defense applications following a settlement from the Sweet v. McMahon lawsuit, which alleged delays in processing [1] - The automatic forgiveness will significantly improve the financial situation of affected households, potentially increasing consumer spending [1] Eligibility for Automatic Forgiveness - Borrowers eligible for automatic forgiveness must have applied for loan discharge between June 23, 2022, and November 16, 2022, and attended one of over 150 identified schools [1] - About 80% of the total 200,000 applicants fall into this category and are entitled to "full settlement relief" [1] - Notifications regarding forgiveness will be sent via email, and any requests for payment related to the borrower defense claim should be considered scams [1] Impact of the Sweet v. McMahon Settlement - The settlement requires the Department of Education to make decisions on all borrower defense applications submitted before November 16, 2022, by January 28, 2026 [1] - Approximately 200,000 borrowers who applied during the specified period are awaiting decisions, with most expected to receive notifications soon [1] - The Department of Education's appeal for an extension to respond to these applicants was rejected, indicating a commitment to expedite the process [1] Additional Borrower Defense Options - Borrowers who applied for defense forgiveness outside the specified dates may still be eligible but will not receive automatic forgiveness [1] - About 20% of the 200,000 applicants did not attend the identified schools and are owed a decision by April 15, 2026 [1] - Those who applied before June 23, 2022, should have already received their forgiveness, and can contact the Department of Education if they have not [1]

Core Insights - The court ruling allows the SAVE repayment plan to continue, impacting millions of borrowers who have been in limbo for nearly two years [1] - The Department of Education is evaluating the court's decision, which dismissed a lawsuit aimed at ending the SAVE plan [1] - The SAVE plan, created under the Biden Administration, offers lower monthly payments and a quicker path to forgiveness, but its legality has been challenged by several states [1] Group 1: Court Ruling and Implications - A federal judge dismissed the case blocking the SAVE plan, meaning all previous injunctions restricting the plan are now moot [1] - The ruling allows over 7.43 million borrowers to continue making payments under the SAVE plan and receive forgiveness [1] - The Department of Education under Trump had attempted to eliminate the SAVE plan, but the judge refused to approve this agreement [1] Group 2: Future of the SAVE Plan - Congressional action is anticipated to phase out the SAVE plan by July 2028, but the court ruling allows borrowers to remain on the plan until then [1] - The Department of Education has the option to eliminate the SAVE plan immediately but would need to go through a negotiated rulemaking process [1] - The lawsuit began in April 2024, with states arguing the SAVE plan was illegal, leading to administrative forbearance for borrowers [1]

Core Insights - Current market conditions have led savers to seek safe cash options that provide solid returns without market risk [3][10] - High-yield savings accounts can offer rates up to 5.00% under certain conditions, while CDs provide a best nationwide rate of 4.50% [4][10] - The article emphasizes the importance of utilizing idle cash effectively to earn meaningful interest during periods of market volatility [5][6] Cash Yield Opportunities - The article outlines potential earnings on various cash balances over six months, showing that a $10,000 deposit at a 5.00% APY could yield $247, while $50,000 could earn $1,235 [9][8] - Different APYs are detailed, indicating that even lower rates (e.g., 3.25%) can still generate significant earnings, with $10,000 earning $161 over six months [9][8] Categories of Cash Products - The top cash options are categorized into three main types: bank and credit union products, brokerage and robo-advisor products, and U.S. Treasury products [18][13] - Each category has distinct characteristics and trade-offs, allowing savers to choose based on their financial goals and timelines [13][14] Rate Tracking and Analysis - The article mentions that rates are tracked daily from over 200 banks and credit unions, ensuring that the information reflects the most competitive offerings available [15][17] - It highlights the variability of rates, particularly for savings accounts and money market funds, while CDs and Treasuries offer fixed yields for set periods [12][16]

Core Insights - AbCellera Biologics Inc. (NASDAQ: ABCL) is a biotechnology company focused on developing antibody therapies, with a market capitalization of approximately $964 million at the time of its earnings release [1] Financial Performance - ABCL's fourth-quarter 2025 earnings report showed earnings per share of negative $0.03, beating the Zacks Consensus Estimate of negative $0.18, indicating a significant improvement from the previous year's larger loss [3] - The company's revenue for the quarter reached $44.9 million, surpassing the Zacks Consensus Estimate by 565.48% [3] - Despite a negative price-to-earnings (P/E) ratio of around -7.11, ABCL's stock has risen approximately 14% over the past year, reflecting investor optimism [4][6] Stock Activity - CFO Andrew Booth purchased 42,600 common shares at $3.42 each, increasing his direct ownership to 195,600 shares, coinciding with a positive period for ABCL following its impressive earnings report [2] - The stock has been trading around the $3.50–$3.60 range, including after-hours activity near $3.52 [2] Financial Ratios - ABCL has a price-to-sales ratio of about 13.89, indicating investor confidence in its sales potential [4] - The company's debt-to-equity ratio is approximately 0.15, reflecting a low level of debt compared to equity, and a strong current ratio of about 11.32, suggesting a robust ability to cover short-term liabilities [4] Strategic Outlook - Insights from ABCL's recent earnings call highlighted discussions on revenue, profit margins, and potential partnerships, with leadership expressing optimism about future growth [5]

Core Viewpoint - Kirby McInerney LLP is investigating potential claims against EPAM Systems, Inc. regarding possible violations of federal securities laws or unlawful business practices by the company or its senior management [1] Financial Results - On February 19, 2026, EPAM reported its financial results for the fourth quarter and full year 2025 [1]