Core Insights - Bitdeer reported a significant revenue increase of 173% year over year, reaching $169.7 million, and turned adjusted EBITDA from negative $7.9 million to positive $43 million [1][3] - The company doubled its self-mined Bitcoin output to 1,109 BTC and achieved a hashrate of 41.2 exahash as of October, marking over a 4x increase in self-mining capacity in the last ten months [2][3] - Bitdeer is shifting its strategy from hosting and cloud-mining to internal deployment of its own hardware, which has contributed to the revenue surge [3] Financial Performance - The company reported a net loss of $207 million this quarter, primarily due to non-cash changes related to convertible notes [4] - Bitdeer is implementing a strategy to retire existing convertible notes and issue new ones, alongside an 11 million-share private placement to noteholders [4] Product Development - Mass production of the SEAL Miner A3 ASIC has commenced, while the A4 chip is undergoing in-house testing with efficiency levels of 6–7 J/TH at the chip level [5] - The company is facing delays in the A4 chip development due to the need to rewrite parts of the internal design software [5][6] AI and HPC Expansion - Bitdeer plans a 40MW AI cloud buildout across Singapore, Malaysia, Washington, and Tennessee, with a larger 175MW facility planned for Norway in 2026 [7] - The company is pursuing large-scale AI co-location at its 570MW Clarion site in Ohio, where demand from potential customers is reportedly strong [7]

Riot Platforms, Inc. (NASDAQ:RIOT) is one of the best cryptocurrency stocks to buy for the long term. On November 19, Citizens initiated coverage on Riot Platforms (NASDAQ:RIOT) with a Market Outperform rating and a $25 price target. The firm pointed to Riot’s shift from pure bitcoin mining to a broader data-center model, supported by third-quarter 2025 results showing $637.16 million in trailing, twelve-month revenue, more than double the prior year. Riot Platforms, Inc. (RIOT) Shifts Toward HPC Growth, ...

Key Takeaways CLSK's Q4 revenues are expected to jump 167.4%, with earnings seen improving to 5 cents per share.Higher power capacity, stronger hash rates and steady Bitcoin output support CleanSpark's results.A shift toward balanced Bitcoin monetization and low marginal costs may aid CLSK's profitability.CleanSpark (CLSK) is scheduled to report fourth-quarter fiscal 2025 results on Nov. 25.The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $238.8 million, suggesting a 167.4% year- ...

Core Insights - NVIDIA Corporation (NVDA) shares increased nearly 6% after reporting better-than-expected third-quarter fiscal 2026 results, with non-GAAP earnings of $1.30 per share surpassing estimates by 4.84% and showing a 60% year-over-year increase [1][2] Financial Performance - Third-quarter revenues climbed 62% year over year and 22% sequentially to $57.01 billion, exceeding the consensus mark by 4.14% [2] - Non-GAAP gross margin was 73.6%, reflecting a decline of 140 basis points year over year but an improvement of 90 basis points sequentially [11] - Non-GAAP operating income rose 62% year over year and 25% sequentially to $37.75 billion, with a non-GAAP operating margin of 66.2% [13] Segment Performance - The Graphics segment accounted for 10.7% of revenues, rising 51% year over year to $6.1 billion, surpassing the consensus estimate of $5.65 billion [4] - Compute & Networking represented 89.3% of revenues, with revenues soaring 64% year over year to $50.91 billion, exceeding the consensus mark of $48.59 billion [5] - Data Center revenues, which make up 89.8% of total revenues, increased 66% year over year to $51.22 billion, driven by higher shipments of Blackwell GPU computing platforms [6] Market Insights - Gaming revenues increased 30% year over year to $4.27 billion, although they declined 1% sequentially due to normalized inventory levels [7][8] - Professional Visualization revenues rose 56% year over year to $760 million, driven by new product launches [8] - Automotive sales totaled $592 million, up 32% year over year, reflecting continued adoption of self-driving platforms [9] Cash Flow and Shareholder Returns - NVIDIA generated $23.75 billion in operating cash flow during the third quarter and $22.09 billion in free cash flow [15] - The company returned $243 million to shareholders through dividends and repurchased $12.46 billion in stocks during the quarter [16] Future Guidance - For the fourth quarter of fiscal 2026, NVIDIA anticipates revenues of $65 billion, higher than the Zacks Consensus Estimate of $60.3 billion, with a projected non-GAAP gross margin of 75% [17]

Core Insights - Equinix and Lenovo have partnered to provide a high-performance computing (HPC) solution for Merck KGaA, aimed at enhancing drug discovery, materials innovation for semiconductors, and overall scientific research capabilities [1][2][4] Company Developments - Merck KGaA has launched a state-of-the-art HPC built on Lenovo ThinkSystem servers, utilizing advanced liquid cooling technology, hosted in an Equinix AI-ready data center in Germany [1][2] - The HPC platform combines private and public cloud infrastructure, allowing for flexible scaling to meet varying computational demands [2][3] Technological Advancements - The partnership emphasizes the importance of data and technology in scientific progress, with the HPC enhancing computational capabilities and enabling more effective use of AI and advanced analytics [2][3] - Equinix's infrastructure supports high-performance workloads while reducing energy consumption, aligning with Merck's environmental, social, and governance (ESG) targets [3][4] Market Position - Lenovo is recognized as a global technology powerhouse with a revenue of US$69 billion, focusing on AI-enabled devices and infrastructure [5] - Merck KGaA operates across life science, healthcare, and electronics, generating sales of €21.2 billion in 2024, with over 62,000 employees dedicated to scientific advancements [6][7]

Key Takeaways CleanSpark is shifting from pure Bitcoin mining to building data centers for AI and HPC demand.CLSK acquired a 271-acre Texas site and partnered with Submer to develop efficient AI data centers.CLSK's diversification aims to stabilize growth, with fiscal 2026 revenues expected to rise 34.2% to $1.04B.CleanSpark, Inc. (CLSK) is trying to transform its business from a pure-play Bitcoin miner to a diversified digital infrastructure company. CleanSpark is currently focusing on providing data cente ...

Cadence Design Systems (NasdaqGS:CDNS) FY Conference November 18, 2025 11:45 AM ET Company ParticipantsJohn Wall - CFOConference Call ParticipantsJoe Kojarki - AnalystJoe KojarkiPerfect. So we'll go ahead and get started. I'm Joe Kojarki the semis semi-cap analyst here at Wells Fargo. Excited to have the Cadence Design Systems team here, John Wall, CFO, as well as Matt from the IR team. Thanks for joining us. First, I think I've been asked to read the safe harbor, so let me get through that real quick. Toda ...

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Core Insights - Penguin Solutions announced support for the latest NVIDIA DGX B300 and RTX PRO 6000 GPUs in its OriginAI solution portfolio, aimed at enhancing AI infrastructure for organizations transitioning from pilot projects to production [1][2][8] Product Features - The OriginAI solution will support NVIDIA DGX B300, which offers up to 72 petaFLOPs of training throughput and 144 petaFLOPs of inference performance, and the RTX PRO 6000 with 96 GB of GDDR7 memory [3][4] - OriginAI architectures can scale from 1/4-pod configurations to over 90 pods, accommodating deployments from 64 to more than 24,000 GPUs [5][6] Service and Support - Penguin Solutions, as an NVIDIA DGX-Ready Managed Services Provider, combines advanced GPUs with validated infrastructure architectures and expert services to simplify deployment and accelerate AI adoption [4][5] - The ICE ClusterWare software enhances infrastructure performance and simplifies AI cluster management, introducing features like multi-tenancy and anomaly detection [7][8] Availability - The general availability of the OriginAI solution with the latest NVIDIA configurations is scheduled for early 2026 [8]

Core Insights - CleanSpark, Inc. (CLSK) stock has experienced a significant decline of 29.6% in the last week following the announcement of a $1.15 billion upsized offering of convertible senior notes with a 0.00% coupon rate [1][10] Business Transformation and Growth Potential - CleanSpark is transitioning from a Bitcoin mining company to a provider of digital infrastructure and AI or high-performance computing (HPC) data centers, leveraging its existing assets [3][4] - This diversification strategy positions CleanSpark to benefit from growth drivers beyond the volatility of Bitcoin prices, enhancing long-term growth prospects [4] Capital Deployment Strategy - The $1.15 billion raised through convertible notes signals confidence in the company's future, with approximately $460 million already allocated for share repurchases, mitigating dilution concerns [5][10] - Share repurchases reduce the outstanding share count, thereby increasing earnings per share for remaining shareholders [6] - The zero-coupon structure of the notes allows the company to avoid regular cash interest payments, preserving operating cash flow [6] Convertible Notes Terms - The initial conversion price for the notes is set at a premium, with a conversion rate of 52.1832 shares per $1,000 note, equating to $19.16 per share, which is about 27.5% higher than the stock's price at the announcement [7] - At the last closing price of $10.61, the conversion rate is approximately 45% higher, providing a buffer against immediate dilution [8] Financial Performance - In Q3 of fiscal 2025, CleanSpark reported earnings of 78 cents per share, a significant improvement from a loss of $1.03 per share in the previous year, with revenues of $198.6 million, up 90.8% year over year [11] - The company produced 2,012 Bitcoin in Q3, a 28% increase year over year, with an average revenue per Bitcoin of $99,000, reflecting a 50% year-over-year increase [12] Valuation Comparison - CleanSpark trades at a forward 12-month price-to-sales (P/S) ratio of 3.11, slightly above the industry average of 3.06, but lower than other Bitcoin miners like TeraWulf, Riot Platforms, and MARA Holdings [14][17] - Despite the recent stock dip, CleanSpark shares have risen 15.1% year to date, outperforming the industry's decline of 6.4% [18] Conclusion - The recent stock sell-off is primarily due to financing structure and dilution fears rather than fundamental issues, with the company focusing on share repurchases and funding its pivot into AI and HPC data centers [20][21] - CleanSpark continues to deliver solid financial results and trades at a discount compared to peers, suggesting that long-term investors should consider maintaining their positions in CLSK stock for now [21]