AMSTERDAM, Feb 24 (Reuters) - Axelera AI has secured $250 million in a funding round led by ‌Innovation Industries that included BlackRock and SiteGround ‌Capital as new investors, it said on Tuesday, marking one of ​the largest investments to date in a European AI chipmaking firm. CEO Fabrizio Del Maffeo said in a statement the company would use the money to expand ‌manufacturing of its "Europa" chip, ⁠which it plans to launch before June, and to further develop software that ⁠makes using its chips easie ...

We present five key takeaways from memory firms' 4Q earnings results: (1) low inventory turnover days (e.g., Hynix only 127 days vs 1Q23 peak of 233 days, or just 2-3 weeks vs 10+ weeks for finished memory modules); (2) strong ASP (Samsung Electronics' DRAM +40% QoQ; SK Hynix's NAND +32% QoQ); (3) aggressive capex spend (Hynix: W12tn vs W5tn/W7tn in 3Q25/4Q24); (4) good execution of HBM4 mass production/ shipment (Samsung, Hynix); and (5) bullish guidance for not only 1Q26 but also long term (memory super-c ...

+= Analysts employed by non-U.S. affiliates are not registered with FINRA, may not be associated persons of the member and may not be subject to FINRA restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. Morgan Stanley & Co. International plc, Seoul Branch+ Ryan Kim Equity Analyst Ryan.G.Kim@morganstanley.com +82 2 399-4939 S. Korea Technology Asia Pacific Industry View Attractive S. Korea Energy & Materials Asia Pacific Industr ...

Global Memory Tech Weekly theme: Rising optimism for 1Q/2Q ASPs and profits; lift global forecasts Industry Overview Memory sales likely to remain upbeat in 1Q and even 2Q Asian tech companies typically operate at reduced levels during the Lunar New Year holidays. Yet, we observed markedly different business activity this week vs Jan or a year ago, as our channel check indicates stronger chip orders, higher contract prices and more active new product development (12-13 Gbps HBM4, PCIe Gen5 eSSD, 1c node DRA ...

Investment Rating - The report maintains a "Buy" rating for SK Hynix Inc. with a target price of W1,200,000 and for Samsung Electronics with a target price of W205,000 [48][60]. Core Insights - The DRAM sentiment indicator for February 2026 is showing a moderately positive trend, consistent with January's outlook, driven by improving contract pricing expectations and strong revenue growth in the sector [1][7]. - Notable revenue increases include Nanya Tech's revenue growth of 608% year-over-year (yoy) and Korea's DRAM exports rising by 167% yoy in January, indicating robust demand and pricing power in the market [1][10][11]. - The report highlights a slowdown in spot pricing growth for DDR5 (+2%) and DDR4 (+1%) in February, but both remain significantly above January contract pricing, suggesting potential for future contract price increases [8][22]. Summary by Relevant Sections DRAM Pricing Trends - DRAM spot pricing for DDR5 and DDR4 has slowed but remains at a premium of 34% and 132% over January contract pricing, respectively, indicating strong pricing power [8][22]. - The second derivative of industry DRAM average selling price (ASP) is estimated to grow by 29% in the first quarter of 2026, reflecting a positive pricing outlook [12][33]. Revenue Trends - Server ODM monthly revenue increased by 91% yoy in January, driven by strong demand for AI server shipments, while Aspeed's revenue rose by 28% yoy [9][23]. - Nanya Tech's revenue growth of 608% yoy in January marks six consecutive months of triple-digit growth, primarily due to strong DDR4 pricing [11][32]. - Supreme Electronics also reported a 73% yoy revenue increase in January, further indicating a positive trend in the sector [30]. Market Demand Insights - Korea's DRAM exports showed a significant increase of 167% yoy in January, attributed to rising memory prices and strong demand for server-related products [10][26]. - In contrast, China's smartphone shipments decreased by 29% yoy in December, suggesting potential headwinds in consumer electronics demand, although server-related demand remains strong [10][28]. Future Expectations - The report anticipates continued tight supply/demand dynamics for both DRAM and HBM, with expectations for pricing improvements in the first and second quarters of 2026 [15]. - Customers are increasingly seeking long-term agreements to secure volume, indicating a shift in negotiation dynamics favoring suppliers [15].

Group 1: Shipping Industry Performance - The Breakwave Tanker Shipping ETF (BWET) and Breakwave Dry Bulk Shipping ETF (BDRY) have seen significant YTD gains of 100% and 31% respectively, driven by record crude oil tanker shipping rates and strong demand for dry bulk shipping [1][1][1] - Crude oil tanker rates nearly tripled over the last year, with a shortage of tanker vessels contributing to soaring rates in February [1][1][1] - South Korean shipping company Sinokor Group has gained a substantial share of the tanker market, controlling at least 120 VLCCs, which has driven up shipping costs [1][1][1] - Dry bulk shipping rates are rising due to strong demand for critical metals and limited vessel availability along key trading routes [1][1][1] Group 2: South Korean Market Performance - South Korea's KOSPI Composite has increased over 30% YTD, driven by strong performances from AI and semiconductor companies like Samsung Electronics (+51.5%) and SK Hynix (+35.89%) [1][1][1] - The new Presidential administration's pro-reform agenda aimed at increasing shareholder value has also contributed to market enthusiasm [1][1][1] - ETFs such as the iShares MSCI South Korea ETF (EWY) are up 37.8% YTD, with other ETFs like Matthews Korea Active ETF (MKOR) and Franklin FTSE South Korea ETF (FLKR) also showing strong performance [1][1][1] Group 3: Oil Services Sector - The oil services sector has benefited from a 20% YTD increase in energy prices, with earnings estimates improving due to better prospects for energy pricing [1][1][1] - Companies like SLB are leveraging AI and digital technology to enhance efficiency and productivity in a tight pricing environment [1][1][1] - ETFs such as the VanEck Oil Services ETF (OIH) and others are up more than 33% YTD, reflecting the positive trends in the oil services industry [1][1][1]

The major U.S. index futures are currently pointing to a slightly higher open on Tuesday, with stocks likely to regain ground following the sell-off seen in the previous session.Traders may look to pick up stocks at reduced levels following yesterday's slump, which dragged the Dow down to its lowest closing level in a month.Buying interest may be somewhat subdued, however, as uncertainty about tariffs continues to weigh on investors' minds.Traders may also be reluctant to make significant moves ahead of th ...

A short rebound in stocks fizzled after Monday's drop, as worries about the disruptive impact of artificial intelligence continued to unsettle markets which digested yesterday’s AI scare, and await today’s Claude / Anthropic presentation, while preparing for tonight’s State of the Union address (“SOTU”). Some have suggested that Trump may attack power generation risks during SOTU as he deals with affordability.As of 8:00am ET, S&P 500 futures traded unchanged, erasing an earlier 0.3% gain. The benchmark fel ...

Core Viewpoint - The Citrini Research report predicts a potential dystopia of mass unemployment due to AI advancements, projecting a 10.2% unemployment rate by 2028, which has caused significant market unease and a sell-off in software stocks [1][2]. Market Reactions - The report has led to a notable decline in U.S. software shares, with the software shares index down 24% year-to-date, as investors react to fears of AI's disruptive impact [2]. - There is a significant rotation in the market from AI-exposed companies to defensive stocks and profitable sectors within the supply chain, despite global equity markets remaining near record highs [5]. Sector Performance - The S&P 500 software and services index has decreased by over 30% since its peak in October, while companies in the chip-making sector, such as TSMC, have seen a 30% increase, and shares of Samsung Electronics and SK Hynix have doubled [5]. - Analysts suggest that the divergence in performance indicates that companies involved in the supply chain, such as chip manufacturers and data centers, are likely to benefit from the rise of AI, while traditional software coding may face significant declines [6].

World shares were mixed Tuesday after U.S. stocks slumped on heavy selling of shares in companies that could be losers in the artificial-intelligence boom.A report by Citrini Research, a New York-based financial services company, that outlined a future scenario in which AI's dominance caused the “human-centric consumer economy,” to wither away with dire consequences for employment, was the latest hit to confidence for companies that might be displaced by fast expanding use of the technology.“Policy response ...