Hey everybody, Ethan Sloan with SanDisk. We're going to talk a little bit about SanDisk DDN powering the next generation of AI and HBC. Nobody's talked AI here, so this will be the first one, right.Obviously, a little bit about me. So, at SanDisk, enterprise solid state drive representation, helping to fuel the uh the channel. So the goal today is to answer questions with regards to who, what, where, why, when, and how.The who part is who am I. Ethan just introduced myself. Let's get into the what.Right. So ...

Summary of Mawson Infrastructure Group Conference Call Company Overview - **Company Name**: Mawson Infrastructure Group - **Ticker Symbol**: MIGI (NASDAQ) - **Industry Focus**: Digital infrastructure, AI, high-performance computing (HPC), and digital assets with a carbon-free energy approach [2][3] Key Points and Arguments Strategic Initiatives - **Transition to AI HPC**: Mawson is evolving from cryptocurrency mining to AI HPC, recognizing the future reliance on AI alongside traditional mining, which offers potential for greater revenue streams [5][6] - **GPU Pilot Initiative**: This initiative is a significant step towards decentralized AI network participation, marking a shift in the company's operational focus [5][30] Facility and Lease Extensions - **Lease Extensions**: Mawson has extended leases for its facilities, including a five-year extension for Bellefonte and a ten-year extension for Midland, with incremental extensions starting this year [6][20] - **Facility Capacities**: The company operates three major sites with a total power capacity of 153 megawatts, with Midland having 120 megawatts, Bellefonte 9 megawatts, and Corning, Ohio 24 megawatts [19][20] Litigation and Legal Matters - **Ongoing Litigation**: The company has faced significant litigation, which has impacted its operations. However, recent court rulings have allowed Mawson to countersue for damages incurred [7][8] - **Resolution Goals**: Mawson aims to resolve litigation amicably to focus on business operations without legal distractions [9] Financial Performance - **Revenue Growth**: Mawson reported a 37% increase in revenue year-over-year, attributed to effective energy management strategies [15] - **Quarterly Improvement**: From Q3 2024 to Q3 2025, revenue improved by 7%, driven by digital co-location and energy management programs [25] Operational Efficiency - **Power System Uptime**: The company achieved a power system uptime of 99.95%, showcasing the reliability of its infrastructure [26] - **Lean Operations**: Mawson operates with a lean staff, capable of deploying up to 4 megawatts of miners daily, contributing to operational efficiency and profitability [27][28] Market Positioning - **PJM Market Advantages**: Mawson operates in the PJM market, which offers robust grid stability and carbon-free energy options, making it favorable for customers [18][19] - **Digital Asset Growth**: The global market for digital assets is expanding, with Bitcoin's market cap at $1.7 trillion and digital currencies at $2.9 trillion, presenting opportunities for Mawson [32][33] Additional Important Information - **Management Team**: The leadership team has been revamped, bringing extensive experience across technology, energy, and infrastructure sectors, aiming to enhance shareholder value [12][13] - **Client-Focused Services**: Mawson offers various technical services, including help desk systems and feasibility studies for battery storage, to support its growth in AI and HPC [29] This summary encapsulates the critical insights from the Mawson Infrastructure Group conference call, highlighting the company's strategic direction, operational efficiency, and market positioning.

Market Performance - The main board saw significant gains with companies like Dream Network Technology (+10.02%), Liang Micro (+10.01%), and Guangxi Guangdian (+10.00%) leading the charge [1] - The ChiNext board was led by Tianmai Technology (+12.09%), Guangzhi Technology (+11.01%), and Kema Technology (+10.44%) [1] - The Sci-Tech Innovation board was dominated by Moore Thread-U (+28.04%), Fuxin Technology (+20.00%), and Zhenlei Technology (+17.40%) [1] - Active sub-industries included SW Semiconductor Materials (+0.30%) and SW Communication Cables and Accessories (+0.28%) [1] Domestic News - Tai Ling Micro announced collaboration with Google in smart home and audio sectors, expanding from remote control chip supply to a broader range of smart terminal scenarios [1] - Xingfu Electronics plans to acquire proprietary technology and equipment for photoinitiators from the affiliated Sanxia Laboratory for 46.27 million yuan, with nine invention patents currently under application [1] - United Power and Inno-Sec announced successful mass production of a new 6.6kW GaN onboard charging system for Changan Automobile, integrating OBC and DC-DC functions [1] - Unigroup Guowei reported that its automotive domain control chip THA6 has entered mass production, with plans to expand customer integration by 2026 [1] Company Announcements - Wanma Technology won a bid for the State Grid's 2025 joint procurement project in Central, North, and Northeast China, totaling 59.94 million yuan [2] - Dingjie Smart plans to issue 828 million yuan in convertible bonds for the development of a smart ecosystem platform [2] - Lens Technology signed an agreement to acquire 100% of Peimei Gao International Limited to enhance its server cabinet business and advanced liquid cooling system capabilities [2] - Haineng Industrial reported a share reduction by Zhou Hongjun, decreasing his stake to 5.27% [2] Overseas News - Mitsui Chemicals developed the world's first 12-inch optical resin wafer for AR glasses, enhancing user experience with wider viewing angles and improved safety [3] - Qualcomm acquired Ventana Micro Systems, focusing on RISC-V architecture for server CPUs, aiming to compete with Arm and x86 technologies [3] - Synopsys reported a surge in customized ASIC chip orders driven by strong demand in AI and HPC, projecting a 37.8% revenue increase to $2.26 billion for Q4 FY2025 [3] - CFM forecasts significant price increases in memory products, with Mobile eMMC/UFS expected to rise by 25%-30% in Q1 2026 [3]

Hey guys, uh my name is Omar. I'm just going to give a brief overview of u what I see is important, where do we think we're going. And my job basically is to just work as closely as possible with you guys who are our customers to make sure that we build the best products possible.And then I'm going to invite the really smart people, Dr. . Jameskumer and Swen who can come up and take a deep dive into some of the exciting technologies that we're building. So with that um I won't spend too much time on this ch ...

my journey started uh largely instrumenting code to run on a single GPU. This was state-of-the-art uh when I started and that that was sort of great. We had some challenges but we had this this disc media called SATA and it sort of kept up with what we wanted to do but it didn't take long when we started instrumenting as science instrumenting code for multiGPU particularly as science began to increase the size of data we could do more.So they were doing more. So we were growing the platform capability by ad ...

Core Thesis - Entegris, Inc. is positioned for growth following its transformation into a vertically integrated materials science leader, driven by its $5.7 billion acquisition of CMC Materials in 2022 [2][3] Company Overview - Entegris provides advanced materials and process solutions for the semiconductor and high-technology industries globally [2] - The company has shifted from being a diversified contamination-control supplier to a leader in the semiconductor materials ecosystem over the past five years [2] Financial Performance - As of Q3 2025, Entegris reported $807 million in quarterly revenue and record operating cash flow, highlighting effective working-capital optimization and strong demand for consumables [4] - Approximately 80% of sales now come from recurring, unit-driven consumables revenue, which has helped maintain strong non-GAAP profitability despite market downturns [3] Market Position and Future Outlook - Entegris is expected to benefit from an industry recovery linked to AI, high-performance computing (HPC), and gate-all-around (GAA) architectures, which are increasingly materials-intensive [5] - The company's leverage has decreased to around 3.5x, and capital expenditures are set to normalize, indicating potential for significant free cash flow expansion in 2026 and beyond [5] - Valuation analysis suggests that Entegris is modestly undervalued, with a multi-year path to compound returns through deleveraging, margin recovery, and secular content growth [5]

Core Insights - Bitfarms is transitioning its cryptocurrency mining operations into data centers focused on high-performance computing (HPC) and artificial intelligence (AI) to generate substantial revenue that could replace income from cryptocurrencies [1] Company Overview - Bitfarms is exploring new revenue streams by repurposing its mining farms for intensive data processing tasks [1] Market Potential - The shift towards HPC and AI indicates a strategic pivot that could capitalize on growing demand in these sectors, potentially enhancing the company's financial performance [1]

Company Strategy & Market Positioning - DDN is doubling down on AI and expanding its global presence, recognizing the importance of markets beyond the US, Europe, and Japan, including the Middle East, South Asia, and the Nordics [2][3][4] - DDN supports multiple GPU vendors like AMD, Intel, and Cerebras, but highlights Nvidia as the current market leader [4][5] - DDN emphasizes the importance of data strategy alongside GPU acquisition, highlighting data as the key differentiator for AI success [9][10][11] - DDN is widening its go-to-market strategy, engaging with resellers, VARs, global system integrators (Accenture, Deloitte, Cognizant, HCL), and AI server/hardware vendors (Super Micro, Lenovo, Eviden, Dell, HP) [19][20] Product & Technology - DDN's Exoscaler platform is designed for large-scale HPC and AI training, supporting multi-model training with thousands of GPUs and offering easy deployment and upgrades [16] - DDN's Infinia technology offers fast object storage and can run on various platforms, including Nvidia's Bluefield DPUs, with a roadmap including scale-out NFS [12][17][18] - DDN now has a T1 offering inside Google Cloud Platform (GCP), allowing users to test Exoscaler directly [21] Financial & Investment - DDN received a $300 million investment from Blackstone, valuing the company at a few billion dollars, demonstrating its long-term commitment [23] Recognition & Partnership - DDN was recognized as the second-ranked company worldwide (first outside of China) for AI and enterprise in a recent Gartner report [24][25] - Nvidia relies on DDN for its supercomputers, highlighting the strong partnership and its expansion into the enterprise world [27]

Core Insights - NVIDIA has confirmed it is the first and only customer for TSMC's A16 process node, which is expected to begin mass production in the second half of 2026 and will be used for the Feynman series GPU planned for release in 2028 [1][3]. Group 1: A16 Process Node - The A16 process node features significant technical advantages, including an 8% to 10% speed improvement, a 15% to 20% reduction in power consumption, and a 7% to 10% increase in chip density compared to the N2P process [3]. - The A16 process utilizes a Nanosheet transistor structure and introduces Super Power Rail (SPR) backside power delivery technology, optimized for AI acceleration and high-performance computing (HPC) markets [3]. Group 2: NVIDIA's Product Roadmap - NVIDIA's CEO has outlined a four-year AI GPU roadmap, which includes the Blackwell Ultra in 2025, Rubin in 2026, Rubin Ultra in 2027, and Feynman in 2028 [3][4]. - Feynman GPU is anticipated to be a groundbreaking product following the Blackwell architecture, serving as a core strategic product for NVIDIA in AI and HPC sectors [4]. Group 3: Production Plans - TSMC's Kaohsiung P3 factory is set to begin large-scale production in 2027 to align with NVIDIA's product roadmap [2]. - NVIDIA has also placed substantial orders for TSMC's 3nm wafers for the production of the Rubin and Rubin Ultra GPU series [3].

Group 1 - Hong Kong's Hang Seng Index rose by 0.61%, gaining 156 points to close at 25,873 points, while the Hang Seng Tech Index increased by 1.15%. The morning trading volume reached HKD 133 billion [1] - Alibaba (09988) saw a rise of 2.39% ahead of its quarterly earnings report, with its Qianwen app surpassing 10 million downloads in a week [1] - Baidu (09888) increased by 3.22%, with Morgan Stanley predicting significant revenue growth driven by Kunlun chip sales and GPU computing demand [1] - Longpan Technology (02465) surged over 18% after signing a supplementary agreement with Chuangneng New Energy, raising total sales to over RMB 45 billion [1] - Amazon announced a USD 50 billion investment in the U.S. to enhance computing power, focusing on government-level AI and HPC demands [1] - Huizhu Technology (01729) rose over 17%, positioning itself in the MPO optical communication and AI server sectors, serving as a key supplier for Google [1] Group 2 - Hesai Technology (02525) increased by over 13% after launching its self-developed RISC-V LiDAR main control chip, Fermi C500 [2] - Pony.ai (02026) rose over 10% following a strategic partnership with Sunshine Travel, with the first batch of autonomous vehicles set to launch this year [3] - Changfei Optical Fiber and Cable (06869) surged over 13%, with its A-shares hitting the daily limit as AI computing power experiences a surge in demand [4] - Fubo Group (03738) rose over 9% due to a spike in demand for AI-generated content recognition and rights management, launching an AI music detection service [5] - Junshi Biosciences (01877) increased by 4.6% after its JS001sc lung cancer Phase III trial met its primary endpoint, with plans to submit a listing application soon [6] - Tsunam Machine Tool China (01651) rose over 5%, with AI liquid cooling joint orders expected to drive future performance growth [7] - Deshang Real Estate (00199) resumed trading and soared over 46% after issuing shares at a discount to raise funds for transitioning into the Web 3.0 ecosystem [7]