Core Business & Strategy - Basecamp Research aims to digitize nature and unlock solutions evolved in biodiversity for humanity's benefit [5] - The company is building a bridge between biotechnology and biodiversity, addressing the data wall in biology [6][7] - Basecamp Research positions itself as a data company, utilizing AI models to interrogate and represent biological data [9] - The company's mission is to map global biodiversity, rivaling the Human Genome Project in scientific advancement [32][33] - Basecamp Research is scaling its database by 10x annually, presenting a significant engineering challenge [21] Data & Technology - The company converts biological material into data, processing hundreds of millions of CPU hours with billions of annotations [4][2] - Basecamp Research's data asset aims to represent the diversity in nature, enabling scaling laws in biology and transforming biotechnology [9] - The company collaborates with Microsoft and NVIDIA to scale models on large compute systems, combining data and model scaling expertise [14][26][28] - Basecamp Research leverages Azure and NVIDIA BioNeMo to optimize architectures for its unique data, training foundation models [25][26][27] Biodiversity & Impact - Costa Rica, covering 0.03% of Earth's surface, holds approximately 6% of the world's biodiversity, making it a key location for data collection [3] - Basecamp Research enhances capacity in bioeconomy locations by building labs, sharing data, and training scientists [37] - The company aims to pass revenue back to partner countries, demonstrating the value of biodiversity data [38]

VONNIE: IT IS 5:00 A. M. IN NEW YORK CITY.AND I'M VONNIE QUINN IN FOR DANI BURGER. THE DOLLAR BOUNCES BACK JUST A LITTLE BIT FOLLOWING A BRIEF DRAMA OVER FED CHAIR JEROME POWELL'S FUTURE. AND THE LATEST ON TRADE.PRESIDENT DONALD TRUMP FLOATS 10% TO 50% TARIFFS MORE THAN 100 50 NATIONS. EARNINGS CONTINUE. TSMC BOOSTS ITS SALES GROWTH OUTLOOK AS AI ORDERS RUN HOT.LET'S LOOK AT HOW THAT IS IMPACTING THE MARKETS AS WE APPROACH THE OPEN IN A FEW HOURS' TIME. A SMALL UPSIDE FOR FUTURES AFTER A VERY FLABBY DAY YES ...

July 16, 2025 01:27 AM GMT Semiconductors | North America H20, mi308 are back; FAQs US AI stocks NVDA, AMD, AVGO are likely to receive licenses to ship to China at levels consistent with the prior threshold. We would keep near term expectations in check as outlined below, but it's a significant positive for 2026 for all AI stocks, including our Top Pick NVDA. What happened? Monday night, NVIDIA announced in a blog post (here) that they are expecting to secure US govt licenses to resume shipments of H20 prod ...

Investment Rating - The report assigns a "Buy" rating to several companies including NVIDIA, AMD, and TSMC, indicating a positive outlook for these firms in the technology sector [33]. Core Insights - The resumption of NVIDIA's H20 GPU sales to China is expected to positively impact the APAC technology supply chain, particularly benefiting companies like Inventec and Wistron [2][4]. - AMD's MI308X license applications for export to China are moving forward, which could lead to a recovery in revenue after significant write-downs [3]. - The overall demand for NVIDIA's RTX GPU series may moderate due to the increased availability of H20 GPUs, suggesting a shift in market dynamics [4][6]. Summary by Sections NVIDIA and AMD Developments - NVIDIA is filing applications to resume sales of the H20 GPU, with government assurances for license approval, and has introduced a compliant RTX PRO GPU [2]. - AMD's license applications for MI308X are under review, with expectations of resuming shipments as approvals are granted, despite prior inventory write-downs of approximately US$800 million [3]. APAC Technology Supply Chain - Inventec is positioned to benefit significantly from the H20 server rack business, with 10% of shipments to China potentially generating over 20% of sales due to higher average selling prices (ASPs) [4]. - Other ODMs like Wistron and Hon Hai are also expected to gain from the H20 export relief, enhancing their revenue prospects [4]. Semiconductor and HBM Market - The relaxation of export controls on NVIDIA's AI GPUs is anticipated to benefit upstream suppliers like TSMC and KYEC, with projections of significant growth in CoWoS demand [8]. - Samsung is expected to be the main beneficiary in the HBM market due to the resumption of H20 sales, with forecasts indicating substantial quarter-over-quarter growth in HBM bit demand [10]. Price Dynamics and Market Trends - The report notes a potential moderation in RTX GPU sales due to cannibalization from H20, with expectations of price adjustments in the secondary market [6]. - The demand for HBM is projected to surge with the resumption of H20 shipments, despite ongoing localization efforts in China [9].

Market Performance & Trends - The S&P 500 closed lower, while the Nasdaq Composite closed slightly higher [2][7] - Information Technology sector in the S&P 500 rose by 13%, driven by gains in chip companies [9] - Cyclical sectors lagged, with Dow transports down 16%, S&P 400 mid-caps down 18%, and Russell 2000 down 2% [8] - Bitcoin experienced a 3% decrease after reaching a record high of 120,000 [4] Company Specific News - NVIDIA shares increased by 4% after receiving assurances from the US government regarding export licenses for its H-20 chip to China [3][10][11] - Citigroup's shares rose by 37%, reaching their highest level since 2008, following strong regulatory stress test results and increased stock buybacks [12][13] - MP Materials shares surged by nearly 20% after Apple committed $500 million to buying the company's American-made rare earth magnets [14][15] - Wells Fargo's shares fell by approximately 5% after missing second-quarter net interest income estimates and lowering its full-year guidance for NII [15] - BlackRock's shares dropped by 5% after revenue and performance fees missed estimates, despite total assets reaching a record $125 trillion [17] - Newmont's shares fell by 57% following the resignation of the company's chief financial officer [18] - Omnicom reported second-quarter revenue of $42 billion, slightly above the consensus estimate of just under $4 billion, and adjusted EPS of $205, beating the consensus estimate of $198 [16] - J P Hind reported second-quarter EPS of $131, a penny higher than street estimates, and revenue of $293 billion, also a slight beat [21] Economic Factors - France is considering axing two public holidays in an attempt to tackle the deficit, which could give a boost of several billion euros to the country [23][25] - Kerrygold Butter is planning to slow down its U S investment due to uncertainty regarding Trump's trade settlement with the European Union [26] - The 30-year yield is pinned at the 5% mark, with the 20-year yield also camped out there [19]

AI Infrastructure & Sovereign Intelligence - DDN's President discusses the rapid rise of AI infrastructure and sovereign intelligence [1] - Sovereign AI is becoming mission-critical [1] - France and the global tech ecosystem are racing toward a future powered by a million GPUs [1] - Data intelligence is the true currency of innovation [1] DDN's Capabilities & Performance - DDN powers NVIDIA's most advanced AI systems [1] - DDN's Infinia demonstrates game-changing performance vs AWS in RAG workloads [1] AI Applications & Impact - AI has real-world impact across finance, healthcare, defense, and energy [1] - Building an AI factory is worth billions [1] Future Vision - A vision for the future where humans and machines shape intelligence together [1]

Market Overview - The main board saw significant gains with stocks like Shiji Information (+10.04%), Yidelong (+10.02%), and Desheng Technology (+10.02%) leading the rise [1] - The ChiNext board also performed well, with Information Development (+15.18%) and Zhongguang Fanglei (+8.77%) among the top gainers [1] - The Sci-Tech Innovation board was led by Bole Data (+7.23%) and Changying Tong (+7.03%) [1] - Active sub-industries included SW Printed Circuit Boards (+1.91%) and SW Robotics (+1.66%) [1] Domestic News - Dier Laser announced on an investor interaction platform that its TGV equipment for semiconductor chip packaging has completed shipments, achieving comprehensive coverage of wafer-level and panel-level TGV packaging laser technology [1] - In the first half of 2025, China's export of electromechanical products reached 7.8 trillion yuan, a growth of 9.5%. Integrated circuit exports increased by 20.3% to 650.26 billion yuan, with a quantity increase of 20.6% to 167.77 billion units [1] - Basic Semiconductor's subsidiary increased its registered capital to 210 million yuan to support the construction of a vehicle-grade silicon carbide module manufacturing base in Shenzhen, enhancing its production capacity and technical strength [1] - Huawei's smart automotive product line plans to initiate high-speed L3 autonomous driving pilot commercial use in 2025, with L4 testing in urban areas, and aims for large-scale commercial use by 2027 [1] Company Announcements - Lingyi Zhi Zao expects a net profit of 900 million to 1.14 billion yuan for the first half of 2025, representing a year-on-year growth of 31.57% to 66.66% [2] - Guanshi Technology forecasts a net loss of 12 million to 18 million yuan for the first half of 2025, reversing from a profit of 20.31 million yuan in the same period last year [2] - Lianchuang Electronics anticipates a net profit of 18 million to 26 million yuan for the first half of 2025, recovering from a loss of 64.99 million yuan in the previous year [2] - Ruima Precision expects a net profit of 15.56 million to 21.05 million yuan for the first half of 2025, marking a growth of 123.64% to 202.57% compared to the same period last year [2] Industry Insights - Indian startup QWR launched AI smart glasses named Humbl, equipped with an AI assistant capable of recording videos, summarizing conversations, and providing navigation assistance [3] - NVIDIA urged customers to enable system-level error correction codes (ECC) to defend against a new variant of RowHammer attacks targeting its GPUs, known as GPUHammer [3] - LG Electronics is developing hybrid bonding machines for high bandwidth memory (HBM), entering the semiconductor equipment market, aligning with its focus on AI business growth [3] - South Korea's ICT product exports reached 115.16 billion USD in the first half of the year, a 5.8% increase from 108.83 billion USD in the same period last year, driven by strong semiconductor sales [3]

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies involved Core Insights - CoreWeave has become the first cloud provider to commercially deploy the NVIDIA GB300 NVL72 platform, featuring a fully integrated system with significant performance improvements, achieving 1.1 ExaFLOPS for inference and 0.36 ExaFLOPS for training, representing a 50% performance uplift over the previous generation [2][12] - The acquisition of Core Scientific allows CoreWeave to control over 1.3 GW of power resources, expected to save approximately $500 million annually in operational costs and avoid $10 billion in future rental expenses, marking a strategic shift towards a vertically integrated infrastructure platform [5][14] - CoreWeave's partnerships with major clients like OpenAI and Google position it to become a leading vendor in the AI cloud infrastructure market, contingent on its ability to deliver compute commitments consistently [5][15] Summary by Sections Event Summary - In July 2025, CoreWeave announced its commercial deployment of the NVIDIA GB300 NVL72 platform, utilizing a fully integrated rack system with advanced components, achieving significant performance and efficiency improvements [2][12] Technical Architecture - The GB300 NVL72 architecture includes 72 Blackwell Ultra GPUs, Grace CPUs, and BlueField-3 DPUs, enabling high-speed communication and efficient power management through liquid cooling [3][17] Strategic Moves - The acquisition of Core Scientific for $9 billion enhances CoreWeave's control over data center resources, reducing reliance on third-party providers and lowering deployment costs, establishing a competitive advantage in the AI cloud sector [5][14] - The report highlights the increasing divergence in the Neocloud landscape, with CoreWeave's rapid deployment capabilities and integration of hardware and software setting it apart from traditional cloud service providers [6][17]

Investment Rating - The report maintains a "Buy" rating for NVIDIA Corp with a target price (TP) raised to $190 from $180, reflecting a potential return of 19.2% based on the current price of $159.34 [7][31][32]. Core Insights - The total addressable market (TAM) for data center semiconductors is projected to reach $563 billion by 2028, which is 13% higher than previous estimates of $500 billion. This increase is primarily driven by higher-than-expected sovereign AI demand [1][20]. - NVIDIA's data center sales estimates for FY27E and FY28E have been increased by 5% and 11% respectively, with networking sales expected to grow significantly [1][21]. - The report highlights a strong growth trajectory for AI accelerators, with a projected compound annual growth rate (CAGR) of 22% from C2025E to C2028E, driven by both merchant GPUs and ASICs [15][18]. Summary by Sections Market Dynamics - Sovereign demand is expected to contribute billions in revenue for NVIDIA in 2025, with significant growth anticipated in 2026 [3]. - The report discusses the rapid pace of rack buildouts for NVIDIA's GB200 and GB300, alleviating previous concerns about supply bottlenecks [2]. Financial Projections - The report projects NVIDIA's gross margin to normalize to the mid-70s percentage by the end of the fiscal year, supported by the ramp-up of new products [4]. - EPS estimates for FY27E and FY28E have been raised by 6% and 21% respectively, reflecting the positive outlook on sales growth [1][6]. Sales and Revenue Estimates - AI merchant GPUs are expected to maintain a high sales share, with total sales projected to reach $338 billion by 2028, while ASIC sales are expected to grow to $59 billion [18][20]. - The report outlines a detailed sales forecast for NVIDIA's GPUs, indicating a significant increase in units and sales over the next few years [23]. Valuation - The target price of $190 is based on a consistent 30x price-to-earnings (P/E) ratio applied to the estimated EPS of $6.37 for FY26E, aligning with historical averages [32].

国芯网[原:中国半导体论坛] 振兴国产半导体产业！ 不拘中国、 放眼世界 ！ 关注 世界半导体论坛 ↓ ↓ ↓ 7月10日消息，NVIDIA在昨日晚间达到了一个新的里程碑，其股价一度上涨2.5%，报163.9美元/股，总 市值突破4万亿美元，成为全球首家市值达到这一高度的公司。 据报道，NVIDIA的这一市值突破得益于其在AI芯片市场的主导地位，其GPU在性能上领先全球，是目 前市场上最受欢迎的产品之一。 投资银行Wedbush在其最新报告中将NVIDIA的AI芯片称为"新的黄金和石油"，并预测NVIDIA的市值将 继续攀升，未来18个月内投资者的关注焦点将是5万亿美元大关。 Wedbush还指出，微软也有可能加入4万亿美元市值俱乐部。 ***************END*************** 半导体公众号推荐 美国对中国实施的制裁对NVIDIA的营收造成了一定影响，但该公司股价依然保持强劲，这主要归功于 CEO黄仁勋将业务重心转向主权AI，向投资者保证NVIDIA可以向其他国家销售芯片。 与此同时，微软在最新财报中显示出Azure业务33%的增长，缓解了投资者对其AI云计算变现能力的担 忧。 We ...