Financial Data and Key Metrics Changes - For the fourth quarter of fiscal 2026, Marvell reported record revenue of $2.219 billion, reflecting a 7% sequential growth and exceeding the midpoint of guidance [5][6] - Fiscal 2026 revenue grew 42% year-over-year to approximately $8.2 billion, with Non-GAAP earnings per share of $0.80, exceeding guidance by $0.01 [6][33] - The company expects fiscal 2027 revenue to grow more than 30% year-over-year, approaching $11 billion, significantly higher than previous forecasts [7][10] Business Line Data and Key Metrics Changes - Data Center revenue surpassed $6 billion in fiscal 2026, growing 46% year-over-year, driven by strong demand for interconnect, switching, and storage products [6][11] - The interconnect business is expected to grow more than 50% year-over-year in fiscal 2027, up from a prior expectation of 30% growth [9] - Communications and other end market revenue for the fourth quarter was $567 million, up 2% sequentially and 26% year-over-year [27][33] Market Data and Key Metrics Changes - The Data Center end market accounted for 74% of total revenue in the fourth quarter, indicating a strong focus on this segment [33] - The company anticipates continued robust growth in the Data Center market, with bookings accelerating at a record pace [6][29] Company Strategy and Development Direction - Marvell's recent acquisitions of Celestial AI and Xconn are aimed at strengthening its position in the AI scale-up networking market [5][29] - The company plans to maintain close alignment with customers as they continue to invest in AI infrastructure, indicating a strategic focus on emerging technologies [11][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong multiyear growth cycle, driven by robust demand across the Data Center portfolio [29][30] - The outlook for fiscal 2027 includes expectations for revenue growth to accelerate each quarter, with a forecast of over $3 billion in revenue by the fourth quarter [30][31] Other Important Information - Marvell returned $2.245 billion to shareholders through share repurchases and dividends in fiscal 2026, reflecting a commitment to capital return [33][35] - The company expects to continue investing in growth while driving operating leverage, with Non-GAAP operating expenses projected to increase due to acquisitions [37][39] Q&A Session Summary Question: Customer base diversification in custom business - Management highlighted strong engagement with top U.S. hyperscalers and emphasized diversification within customer revenue mix, indicating that custom business is not the sole driver of concentration [41][43] Question: Demand for AI compute and XPU programs - Management confirmed strong validation for AI compute demand and indicated that custom revenue is expected to grow faster than previously anticipated, with a stronger second half ramp-up [47][49] Question: Growth in electro-optics business - Management acknowledged significant upward revisions in CapEx and indicated that the electro-optics business is expected to grow at a rate of 50%+ this year, with continued momentum into fiscal 2028 [55][57] Question: Custom business growth expectations - Management indicated that the custom business is expected to grow north of 20% in fiscal 2027, with confidence in the timing of the second major XPU customer program [62][70] Question: Factors contributing to fiscal 2028 revenue outlook - Management discussed strong bookings and backlog as key factors for the improved fiscal 2028 outlook, emphasizing the importance of interconnect business growth [78][80]

Texas Instruments Conference Call Summary Company Overview - **Company**: Texas Instruments (NasdaqGS:TXN) - **Date**: March 04, 2026 - **Speaker**: CEO Haviv Ilan Key Points Industry and Market Segments - Texas Instruments is in the last year of a 6-year investment cycle, executed ahead of schedule and on budget [3] - The company has reorganized its market segments to include: - Industrial - Automotive - Data Center - Personal Electronics - Communications [5][7] - The focus is on industrial, automotive, and data center markets, which account for 75% of the business and are expected to drive growth [7] Financial Performance and Projections - Texas Instruments aims to grow free cash flow per share, targeting at least $8 per share in 2026 with potential for upside [8] - The company reported a 13% growth in 2025, with expectations for continued recovery in 2026 [37] M&A Strategy - The acquisition of Silicon Labs is a strategic move to enhance Texas Instruments' capabilities in analog and mixed-signal technologies, particularly in the industrial sector [12][14] - The company sees potential revenue synergies from integrating Silicon Labs' products into its existing portfolio [13] Competitive Positioning - Texas Instruments emphasizes its competitive advantages in manufacturing, technology, and a broad product portfolio [3] - The company is focused on maintaining a balance between general-purpose and application-specific products to capture growth in key markets [25][29] Inventory and Capacity Management - Texas Instruments plans to maintain inventory levels between 150-250 days to prepare for demand surges, a strategy refined during the COVID-19 pandemic [55][60] - The company aims to operate at 80%-90% capacity to ensure efficiency while being prepared for demand fluctuations [52][56] Market Dynamics - The data center segment is growing rapidly, now accounting for 10%-11% of revenue and growing at 70% year-over-year [40] - Industrial markets are currently below trend line but are expected to recover, with a 20% year-on-year growth observed in Q4 [68][71] - The automotive market has shown resilience, with a 12% CAGR over the past 12 years, driven by content addition across various vehicle sectors [90] Challenges and Opportunities - Competition in China is intensifying, but Texas Instruments has managed to grow its market share, achieving over 25% growth in 2025 [102][105] - The company is focused on capital allocation towards R&D in data centers to meet the demands of higher power density and consumption [109] Future Outlook - Texas Instruments is optimistic about the recovery in industrial markets and the continued growth in automotive and data center sectors [73][100] - The company is preparing for various market scenarios to ensure readiness for potential demand surges in 2026 [35][66] Additional Insights - The company maintains a disciplined approach to capital management, focusing on optimizing cash flow and strategic investments [9][44] - Texas Instruments is committed to building its microcontroller portfolio organically, with plans to enhance capabilities in embedded markets [118][125]

Core Insights - Gorilla Technology Group reported record full-year revenue of $101.4 million, a 35.7% increase year-over-year, marking the first time the company exceeded $100 million in annual revenue [3][6] - The company demonstrated significant improvements in its IFRS results, with the operating loss narrowing to approximately $13.7 million from $66.9 million the previous year, and the net loss narrowing to about $11.3 million from $64.8 million [3][6] - Gorilla is focusing on expanding its AI infrastructure and data center strategy, targeting over 600 MW of capacity across Southeast Asia, Taiwan, India, and the Middle East, with a revenue guidance of $137 million to $200 million for 2026 [5][11][14] Financial Performance - For the fourth quarter, Gorilla's implied revenue was approximately $35.6 million, with an adjusted EPS of roughly $0.37, compared to market consensus expectations of $34.75 million in revenue and $0.30 in adjusted EPS [1] - Adjusted EBITDA was reported at around $19.1 million, with adjusted net income of about $19.9 million, and adjusted basic EPS of $0.89 [2][6] - The company ended 2025 with $104.8 million in cash, and as of February 26, 2026, had $108 million in unrestricted cash and a total cash position of $116.6 million [7][6] Debt and Liquidity - Gorilla reduced its total debt to approximately $13.8 million from $21.4 million in the prior year, with management opting to retain this debt due to its low average interest rate of about 3% [9][10] - The company has spent over $11 million on share buybacks, arguing that the market undervalues its performance and strategy [10] AI Infrastructure Strategy - The company is advancing its AI infrastructure and data center build strategy, emphasizing a shift from training-led to inference-led computing, which is crucial for distributed compute and edge environments [11] - Gorilla is exploring opportunities to buy or build its own data center assets to create recurring revenue streams rather than relying solely on project cycles [12] Future Guidance and Product Development - Gorilla is maintaining its previously issued 2026 revenue guidance range of $137 million to $200 million, reflecting the delivery schedule of data center projects [14] - The company is targeting to have its post-quantum cryptography SD-WAN ready by April 2026 and is investing in 6G lawful interception technology starting in 2027 [16]

I'm actually pretty open-minded about the anti-data-center populism.From everything I've seen from people working on this, reducing industrial-scale hardware availability seems to be both the most practical, and most non-dystopian / non-invasive way to lengthen AGI timelines.So if the movement that makes that happen starts out with anti-data-center populism, that seems fine?Of course you have to do things other than going after data centers located in populated areas to really make a dent on AGI timelines ( ...

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 ...