Lee Jackson: AI funding. It is all about AI and data center funding and things of that nature. The thing that is kind of scary about this, and you will remember this because you were around a generation ago on Wall Street while I was, is that the last company to do a 100-year bond was Motorola (NYSE: MSI) in 1997. That was just as the dot-com boom was starting to explode higher, which was obviously a harbinger of not good things to come. I thought that was interesting because I knew there were only one or t ...

Financial Data and Key Metrics Changes - Net sales for Q3 2026 were $229 million, representing a 7% sequential increase and a 29% year-over-year increase [12][13] - Non-GAAP earnings per share (EPS) were $0.15, an increase of 15% sequentially and 114% year-over-year [15] - Gross margin was 49.9%, up 30 basis points sequentially, and operating margin was 15.4%, an increase of 150 basis points compared to Q2 [12][15] - Adjusted EBITDA was 20.1% of sales, indicating strong operating leverage [12] Business Line Data and Key Metrics Changes - Automotive sales increased by 6% sequentially and 28% year-over-year, with e-mobility sales growing by 46% year-over-year [12][13] - Industrial and other sales increased by 11% sequentially and 31% year-over-year, driven by data center growth [12][13] - Distribution sales increased by 11% sequentially and 39% year-over-year [13] Market Data and Key Metrics Changes - Sales by geography: 30% in China, 27% in the rest of Asia, 17% in Japan, 15% in the Americas, and 11% in Europe [14] - Data center sales established a new quarterly record at 10% of total sales, up 31% sequentially [7][12] Company Strategy and Development Direction - The company is focusing on growth in ADAS, xEV, and data center markets, with significant design wins in these areas [5][6] - A new isolated gate driver IC for silicon carbide transistors has been released, targeting the data center power supply market [8][10] - The company is conducting a robotics roadshow to capitalize on industrial opportunities, confirming new wins in the robotics sector [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in automotive growth, citing strong bookings and backlog, particularly in xEV and ADAS [31][42] - The company anticipates Q4 2026 sales to be in the range of $230 million to $240 million, representing a 22% year-over-year increase [17] - Management noted that inventory levels in automotive remain lean, with no significant increases observed [32][43] Other Important Information - The effective tax rate for Q3 was 7%, and interest expense was $4.7 million [15] - Cash flow from operations was $45 million, with free cash flow at $41 million, or 18% of Q3 sales [16] Q&A Session Summary Question: Gross margin concerns - Management explained that gross margin was impacted by geographic and product mix, with expectations for improvement in the next quarter [21][22] Question: Sell-in versus sell-through dynamics - Management confirmed that sell-in and sell-through were close to equal, with expectations for them to remain balanced going forward [23][25] Question: Automotive growth outlook - Management expects automotive growth to be flat to marginally down in the next quarter due to Chinese New Year, but remains optimistic about long-term growth [29][31] Question: Data center business growth - Management indicated that the data center business is expected to grow, with current sensors and gate drivers contributing to future revenue [35][36] Question: E-mobility growth rates - Management projected a 16% growth rate for the e-mobility segment, driven by strong demand in ADAS and xEV applications [94] Question: Robotics market potential - Management discussed the potential for significant revenue growth in the robotics sector, with expectations for tens of thousands of units in the near term [96][97]

Financial Data and Key Metrics Changes - Net sales for Q3 2026 were $229 million, representing a 7% sequential increase and a 29% year-over-year increase [12][13] - Non-GAAP earnings per share (EPS) were $0.15, up 15% sequentially and 114% year-over-year [15] - Gross margin was 49.9%, an increase of 30 basis points sequentially, and operating margin was 15.4%, up 150 basis points compared to Q2 [12][15] - Adjusted EBITDA was 20.1% of sales, indicating strong operating leverage [12] Business Line Data and Key Metrics Changes - Automotive sales increased by 6% sequentially and 28% year-over-year, with e-mobility sales up 46% year-over-year [12][13] - Industrial and other sales grew by 11% sequentially and 31% year-over-year, driven by data center sales, which established a new quarterly record at 10% of total sales, up 31% sequentially [12][13][14] - Distribution sales increased by 11% sequentially and 39% year-over-year [13] Market Data and Key Metrics Changes - Sales by geography: 30% in China, 27% in the rest of Asia, 17% in Japan, 15% in the Americas, and 11% in Europe [14] - The data center segment accounted for 10% of total sales in Q3, up from 8% in the previous quarter [72] Company Strategy and Development Direction - The company is focusing on growth in ADAS, xEV, and data center markets, with significant design wins in these areas [6][11] - A new isolated gate driver IC for silicon carbide transistors has been released, targeting the data center power supply market [8][10] - The company is actively engaging in robotics, confirming high content opportunities in advanced humanoid robots [9][97] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in automotive growth, citing strong bookings and backlog, particularly in e-mobility and ADAS [31][42] - The company anticipates Q4 2026 sales to be in the range of $230 million to $240 million, representing a 22% year-over-year increase [16] - Management noted that inventory levels in automotive remain lean, with no significant increases observed [32][43] Other Important Information - The effective tax rate for Q3 was 7%, and interest expense was $4.7 million [15] - Cash flow from operations was $45 million, with free cash flow at $41 million, or 18% of Q3 sales [16] Q&A Session Summary Question: Gross margin and revenue guidance - Management explained that gross margin was impacted by geographic and product mix, with expectations for improvement in the next quarter [21][22] Question: Sell-in versus sell-through dynamics - Management confirmed that sell-in and sell-through were close to equal this quarter, with expectations for them to remain balanced going forward [23][25] Question: Automotive growth outlook - Management indicated that automotive growth would be flat to marginally down in the next quarter due to Chinese New Year, but expressed confidence in long-term growth [29][31] Question: Data center business growth - Management highlighted that fan drivers are currently the largest segment in data center sales, with current sensors and gate drivers expected to contribute significantly in the future [35][36] Question: E-mobility growth rates - Management projected a 16% growth rate for the e-mobility segment, driven by strong demand in ADAS and xEV applications [94] Question: Operating expenses and future guidance - Management indicated that operating expenses would see inflationary increases, but overall discipline would be maintained [46][47] Question: Current sensing technology - Management discussed the growth potential of current sensing technologies, emphasizing the transition from Hall-effect to TMR sensors [83][84] Question: Capital allocation and debt management - Management expressed comfort with the current debt levels and indicated a balanced approach to liquidity and debt repayment [87][89]

Well, joining us now in an exclusive interview from the Caner Crypto and AI Energy Infrastructure Conference is Jason Les. He is CEO of Riot. Jason, welcome to the show.>> Thank you for having me. >> All right. So, I am going to get your outlook on cryptocurrencies and some of the moves we've seen and then we can get into AI infrastructure from there.>> Sure. >> So, where do you see Bitcoin headed here. >> So, uh Bitcoin's always a volatile asset.I think 2025 has been a uh pretty transformative year for uh ...

That was the CEO of Courtweave joined us in the last hour weighing in of course on that company's latest earnings. It is the outlook that perhaps has investors somewhat concerned. You heard his reference to one data center provider not meeting at least what was expected of them.Christina Parsons has more for us and of course that reaction that we're seeing with the stock down. Christina 13.5%. >> Yeah, exactly.That's how it was going to start because shares were originally nine then he went on CNBC. You're ...

Let's get to Jim and stop trading. >> You know, Carl, you mentioned Johnson Controls and I doing some work on it. That is the leading coolant.They they make coolers like Vertive in the data center and they they make the air conditioners basically to keep it cool. And boy, it was the best number they've had since 2019. It's incredible.And it's it's a testament to what David was saying. Every time you get away from the data center, you get something like a mundane prosaic company like Johnson Controls that sh ...

Crusoe, which is operating a major data center complex in Texas for OpenAI and Oracle, said it has raised $1.38 billion in equity, valuing the firm at more than $10 billion. https://t.co/kZeZXAy3x2 ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Electronic Components in Japan - **Investor Engagement**: 29 individual meetings and one group meeting held with institutional investors in Singapore and Hong Kong from September 29 to October 3, focusing on stock selection and trends from July to September, as well as medium-term earnings projections for fiscal year ending March 2027 [1][2] Core Insights - **Investment Themes**: There is a growing emphasis on selecting stocks related to AI, data centers, and other specific themes rather than focusing solely on earnings. Strong interest was noted in several companies: - **Ibiden**: High market share in NVIDIA's GPU ABF package substrates - **Murata Manufacturing and Taiyo Yuden**: Increasing sales in the AI/data center segment within their main MLCC businesses - **TDK**: Ongoing expansion in rechargeable battery earnings and improvements in HDD-related business - **Meiko Electronics**: Geopolitical advantage due to primary production site in Vietnam [3] Company-Specific Highlights Ibiden - **Sales Growth**: Reported ¥75.1 billion in sales from NVIDIA in fiscal year 2025, a 138% year-over-year increase. Expected sales to rise to ¥130.0 billion in fiscal year 2026 and ¥192.7 billion in fiscal year 2027. - **New Product Launch**: Anticipated shipments of Rubin ABF package substrates starting March 2026, expected to significantly boost earnings. - **Operational Performance**: Projected operating profit of ¥12.0 billion for Q2 fiscal year 2026, with a total of ¥58.7 billion for fiscal year 2026 [4][8] Murata Manufacturing - **Market Conditions**: Not expecting tight supply-demand conditions for MLCCs in the near future. Global MLCC shipment value is projected to increase from $12.64 billion in 2023 to $14.84 billion in 2025 (+11.6% YoY). - **Operational Performance**: Forecasting operating profit of ¥269.9 billion for fiscal year 2026, with a significant impact from currency fluctuations [9][10] TDK - **Earnings Outlook**: Expected operating profit of ¥266.3 billion for fiscal year 2026, marking a sixth consecutive year of all-time high profits. - **Product Focus**: Mobile-device rechargeable batteries and HDD-related business are key profit drivers. Anticipated improvements in HDD-related business profitability [10][11] Meiko Electronics - **Long-term Growth**: Projected operating profit of ¥24.1 billion for fiscal year 2026, driven by strong sales to smartphone and gaming segments. - **Strategic Initiatives**: Forming a joint venture with Taiwan-based ACCL to enhance production capabilities for AI servers [13][21] Additional Insights - **MLCC Market Dynamics**: MLCCs are critical components across various electronic devices, with AI server-related business expected to contribute approximately 7% of MLCC shipment value in 2025. - **Currency Impact**: A single yen change against the USD is estimated to impact operating profit by approximately ¥4.5 billion for Murata and ¥900 million for Taiyo Yuden [9][14] Risks and Considerations - **Upside Risks**: High-value-added ABF package products may drive earnings beyond expectations for Ibiden. For TDK, potential growth in HDD heads earnings is not factored into the base case. - **Downside Risks**: Increased competition from Taiwanese peers in the automotive PCB market and potential downturns in auto production could negatively impact Meiko Electronics [19][24][30] This summary encapsulates the key points discussed during the conference call, highlighting the performance and outlook of major players in the electronic components industry in Japan.

Core Insights - Astera Labs (ALAB) is experiencing significant growth driven by strong demand for its PCIe solutions, with Q2 2025 revenues reaching $191.9 million, a 20% sequential increase and 150% year-over-year growth [1][10] Product Performance - The Aries, Taurus, and Scorpio product lines have shown strong demand, collectively contributing about 10% of total sales in Q2 2025, with the Scorpio P-Series switches entering volume production and becoming the fastest-growing product line in the company's history [2][10] - Astera Labs is ramping production of its PCIe 6 connectivity portfolio to support modern AI platforms, including new products like Aries 6 PCIe Smart Gearbox and Scorpio P-Series Smart Fabric Switches [3] Strategic Partnerships - The company has expanded its collaboration with NVIDIA to enhance the NVLink Fusion ecosystem, providing hyperscalers with high-performance network options and integrating PCIe, CXL, and Ethernet within its Intelligent Connectivity Platform [4] Competitive Landscape - ALAB faces stiff competition from industry players like Broadcom and Marvell Technology, both of which are advancing their PCIe retimer solutions [5] - Broadcom is developing advanced solutions to enhance signal quality in high-speed data environments, while Marvell Technology is leveraging its Pulse-Amplitude Modulation technology for high-bandwidth communication [6][7] Stock Performance and Valuation - ALAB shares have increased by 73.8% year-to-date, outperforming the broader Zacks Computer & Technology sector's 23.7% return [8] - The stock is trading at a premium with a forward 12-month Price/Sales ratio of 40.90X compared to the Internet - Software industry's 5.91X, indicating a Value Score of F [11] - The consensus estimate for 2025 earnings is $1.58 per share, suggesting an 88.10% year-over-year growth, with ALAB holding a Zacks Rank 1 (Strong Buy) [13]

RT Iain Martin (@_IainMartin)Nvidia’s Jensen Huang just bet $500 million that a tiny data center startup can become a British rival to Coreweave. https://t.co/VSIUOmP1Lj ...