Key Takeaways AMD Data Center revenues hit $3.24B in Q2 2025, up 14.3% and 42.2% of total revenues.Over 100 new AMD-powered cloud instances launched, boosting EPYC's enterprise adoption.Instinct MI355 rivals NVIDIA B200, delivering key AI performance at lower cost and complexity.Advanced Micro Devices (AMD) is riding on strong Data Center revenues, which reached $3.24 billion, up 14.3% year over year and accounted for 42.2% of second-quarter 2025 total revenues. AMD is benefiting from strong demand for EPYC ...

Amazon Earmarks $4.4 Billion For New Zealand Data Center Push https://t.co/fqIWvGQ4uU https://t.co/Nk51jO8Ips ...

Joining us on set, Stephanie Link, uh, this morning, High Tower Advisor, chief investment strategist. She's also a CNBC contributor. How do you account for the the long time that that you haven't been here with us.>> I didn't realize it's been 5 years since you've been on set with us. >> We see her all the time. It's 6:00 in the morning.>> I I just looked over at her and kept talking with the Christmas tree. >> You wanted the tree. That's one reason.>> But it's great to be here in person. Thanks for having ...

Amazon Earmarks $4.4 Billion For New Zealand Data Center Pushhttps://t.co/eXpy4rEziT https://t.co/sbgOwnGYpQ ...

Take us through the details of this data center. Yeah, and I think what this story reminds us is the ambitions, of course, of Openai and Sam Altman in terms of that Stargate project, but also the growth in terms of what open A. I.has seen in the Indian market. So they are planning, according to our reporting, to team up with a local player to build out one gigawatt in terms of centers, which would be one of the largest, if not the largest in India, if that's what it comes to. Google Microsoft have already b ...

Market Trends & Industry Dynamics - The AI trade is facing new questions, potentially impacting growth expectations [1][2] - Nvidia's data center revenue is still growing sequentially by 17% from the past quarter to the next, representing over $7 billion in revenue excluding China [4] - Long-term capex and data center spend is projected to be $3 to $4 trillion between now and 2030, implying a compound annual growth rate (CAGR) of 40% to 45% [3][4] - Expectations for AI returns may be ahead of reality, with a report indicating that 95% of customers using AI are not seeing a return on investment [18][19] Company Performance & Strategies - Broadcom's revenue mix is diversified, with 31% from data center AI, 41% from software (including VMware), and the remainder from cyclical businesses [8] - Broadcom has custom ASIC customers expected to grow 60% year-over-year [6] - Nvidia's top two mystery customers accounted for 39% of Q2 revenue, with Customer A at 23% and Customer B at 16% [15][16] Investment Opportunities & Potential Risks - The SMH (semiconductor ETF) is experiencing its worst day since April, indicating potential sector-wide concerns [2] - Some analysts believe that inflated expectations for AI may lead to a significant pullback in stocks [15] - Despite potential digestion periods, the AI theme is expected to persist, driven by strong guidance and investment from various regions [23][25]

Core Viewpoint - The PCB industry is experiencing significant growth driven by demand from AI computing, automotive electronics, and data centers, with many companies reporting substantial profit increases in the first half of the year [1][2][4]. Group 1: Industry Performance - Nearly 70% of PCB listed companies reported growth in net profit, with notable increases from companies like Shenghong Technology (up 367%), Junya Technology (up 333%), and Huazheng New Materials (up 328%) [2]. - The PCB market is projected to grow from $73.57 billion in 2024 to $94.66 billion by 2029, with a compound annual growth rate (CAGR) of 5.2% [4]. Group 2: Product Upgrades - The industry is shifting towards high-end products, particularly in AI servers and automotive electronics, with high-frequency and high-speed copper-clad laminates seeing increased demand [2][3]. - Companies like Shenghong Technology are focusing on high-density interconnect (HDI) boards, which require advanced manufacturing processes and have seen supply tightness due to increased demand [3]. Group 3: Cost Pressures - Rising copper prices have led to increased operating costs for PCB manufacturers, with over half of the companies experiencing cost growth outpacing revenue growth [5][6]. - The copper price is expected to remain high, with analysts predicting further increases in the second half of the year, adding pressure on PCB companies to manage costs effectively [6]. Group 4: Capacity Expansion - Companies are actively expanding production capacities, particularly in Southeast Asia, to meet the growing demand for high-end multi-layer PCBs [7][9]. - Significant investments are being made by companies like Jingwang Electronics and Shenghong Technology in new facilities and technology upgrades to enhance their market share in high-end PCB products [7][9]. Group 5: Regional Developments - Southeast Asia is becoming a key region for PCB production, with countries like Thailand and Vietnam attracting investments from major PCB manufacturers [7][8]. - The region is expected to have the highest CAGR of 7.8% from 2024 to 2029, driven by the shift of production from China [7].

Financial Data and Key Metrics Changes - Marvell reported record revenue of $2,006 million, reflecting a 6% sequential increase and a strong 58% year-over-year growth [4][25] - Non-GAAP operating margin expanded by 870 basis points year-over-year to 34.8% [4] - Non-GAAP earnings per share reached $0.67, up 123% year-over-year [4][27] - Operating cash flow was $462 million, significantly up from $333 million in the first quarter [5][27] - GAAP gross margin was 50.4%, while non-GAAP gross margin was 59.4% [25][26] Business Line Data and Key Metrics Changes - Data center revenue was $1,490 million, growing 3% sequentially and 69% year-over-year, driven by custom XPU and XPU attached products [11][25] - Enterprise networking revenue was $194 million, and carrier infrastructure revenue totaled $130 million, with combined revenue growing 2% sequentially and 43% year-over-year [19] - Consumer market revenue was $116 million, up 84% sequentially and 30% year-over-year, primarily driven by gaming demand [21] - Automotive and industrial revenue was $76 million, flat both sequentially and year-over-year [21] Market Data and Key Metrics Changes - The data center end market now accounts for 74% of total revenue, up from 34% in 2024 [32] - The total addressable market (TAM) for data centers is projected to increase to $94 billion by 2028, a 26% increase from previous estimates [8] - The company expects data center revenue to continue delivering strong growth in the mid-thirty percent range year-over-year in the third quarter [12] Company Strategy and Development Direction - The divestiture of the automotive Ethernet business for $2,500 million aligns with the strategy to focus on AI opportunities in the data center market [6][7] - Marvell aims to grow its data center market share from 13% of a $33 billion TAM in 2024 to 20% of a $94 billion TAM by 2028 [8] - The company plans to consolidate non-data center end markets into a new single communications and other end market starting in the third quarter [7][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing momentum in the data center market, driven by AI demand [4][23] - The company anticipates overall revenue in the third quarter to be approximately $2,060 million, representing 36% year-over-year growth [22] - Management noted that the custom business is expected to see growth in the second half of the fiscal year compared to the first half [39] Other Important Information - Marvell has repurchased $540 million of stock in the first half of the fiscal year, with approximately $2 billion remaining in its authorization [5] - The company completed a public offering of notes totaling $1 billion, using most proceeds to repay existing debt [28] Q&A Session Summary Question: Guidance for the custom business and headwinds in Q3 - Management acknowledged the lumpiness in the custom business but expects a strong recovery in Q4, driven by optics business growth [37][39] Question: Clarity on design wins and revenue expectations - Management reported significant design activity and new design wins, with many opportunities in the billions of dollars [42][44] Question: Impact of supply constraints and tariffs - Management indicated tight supply chain conditions but has not seen significant impacts from tariffs [45][48] Question: Concentration among lead customers and timing of design wins - Management confirmed that initial programs are ramping and additional design wins are expected to contribute to revenue over the next 18-24 months [52][54] Question: Update on three nanometer XPU program - Management stated that initial programs are ramping and expressed confidence in growth from this program next year [106]

Financial Data and Key Metrics Changes - Marvell reported record revenue of $2,006 million, reflecting a 6% sequential increase and a strong 58% year-over-year growth [4][25][21] - Non-GAAP operating margin expanded by 870 basis points year-over-year to 34.8% [4][25] - Non-GAAP earnings per share reached $0.67, up 123% year-over-year [4][25] - Operating cash flow was $462 million, significantly up from $333 million in the first quarter [5][27] - GAAP gross margin was 50.4%, while non-GAAP gross margin was 59.4% [25][26] Business Line Data and Key Metrics Changes - Data center revenue was $1,490 million, growing 3% sequentially and 69% year-over-year, driven by custom XPU and XPU attached products [11][25] - Enterprise networking revenue was $194 million, and carrier infrastructure revenue totaled $130 million, with combined revenue growing 2% sequentially and 43% year-over-year [19] - Consumer end market revenue was $116 million, up 84% sequentially and 30% year-over-year, primarily driven by gaming demand [20] - Automotive and industrial end market revenue was $76 million, flat both sequentially and year-over-year [20] Market Data and Key Metrics Changes - The data center end market now accounts for 74% of total revenue, up from 34% in 2024 [32] - The company expects data center revenue to continue strong growth in the mid-thirty percent range year-over-year for the third quarter [12][22] - The enterprise networking and carrier infrastructure markets are expected to grow sequentially by approximately 30% in the upcoming quarter [19] Company Strategy and Development Direction - The divestiture of the automotive Ethernet business aligns with the strategy to focus on AI opportunities, redirecting investments towards data center markets [6][21] - The company aims to grow its data center market share from 13% of a $33 billion TAM in 2024 to 20% of a $94 billion TAM by 2028 [7][11] - Marvell is enhancing its leadership structure to capitalize on opportunities in AI and cloud markets [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing momentum in the data center market, driven by AI demand [22][23] - The company anticipates total revenue for the third quarter to be approximately $2,060 million, representing 36% year-over-year growth [21][29] - Management noted that the custom AI design engagements are at an all-time high, with strong interest in differentiated technologies [23] Other Important Information - The company completed a $2,500 million all-cash divestiture of its automotive Ethernet business [5][28] - Marvell's cash and cash equivalents stood at $1,200 million at the end of the second quarter [28] Q&A Session Summary Question: Guidance for the custom business and headwinds in Q3 - Management acknowledged the lumpiness in the custom business but expects a strong recovery in Q4, with optics business growing double digits [36][38] Question: Clarity on design wins and revenue expectations - Management reported significant design activity and confidence in achieving a 20% market share target in the custom silicon business [42][45] Question: Impact of supply constraints and tariffs - Management indicated tight supply chain conditions but noted no significant impact from tariffs on business operations [46][49] Question: Concentration among lead customers and timing of design wins - Management confirmed that initial programs are ramping and additional design wins are expected to contribute to revenue over the next 18-24 months [52][54] Question: Update on three nanometer XPU program - Management stated that initial programs are ramping and emphasized the focus on securing incremental designs and market share [104][108]

NVIDIA业绩与增长 - NVIDIA的业绩并未完全达到预期，投资者正在消化增长放缓的信息 [1] - NVIDIA第三季度在中国市场没有H20芯片的销售额，但Blackwell架构可能进入中国市场 [1] - NVIDIA预计未来12个月内可能达到1000亿美元的收入 [2] - NVIDIA预计2025财年收益增长113%，2026财年增长50% [2] - NVIDIA的Q3财报预测未包含中国市场的收入，若包含，业绩将超出预期 [1] - NVIDIA营收增长56%，未包含中国市场收入 [7] - NVIDIA（不含中国）的数据中心业务在Q1增长约60%的基础上，Q3加速增长至80% [10] 中国市场与政策风险 - 特朗普政府可能对中国AI芯片销售征收15%佣金的计划尚未正式确定，需要进一步的法规文件 [1][3] - 如果一切顺利，中国市场可能为NVIDIA带来高达50亿美元的收入 [1] - 中国市场存在500亿美元的市场机会，但美国对中国的技术出口政策存在不确定性 [1][16][22] - 中国竞争对手正在NVIDIA缺乏竞争的情况下崛起 [3] - 中国政府可能推动国内企业减少对美国技术的依赖 [20] 未来发展与竞争 - NVIDIA的创新步伐持续，Rubin架构即将推出 [2][13] - NVIDIA正在关注量子计算和机器人领域 [2][17] - NVIDIA的Blackwell和Blackwell Ultra芯片将在Q3开始显现影响 [9] - NVIDIA的竞争优势在于其软硬件结合的系统级能力，以及在性能功耗比上的持续改进 [14][15][13] - NVIDIA面临来自Amazon等公司在AI芯片领域的竞争 [14]