Key Takeaways Coherent posted $5.8B in fiscal 2025 revenues, up 23% y/y, driven by AI and datacom demand.Data center revenues soared 61% y/y, highlighting COHR's strength in high-performance computing.COHR began shipping 1.6T transceivers and is generating revenues from its Optical Circuit Switch platform.Coherent Corp. (COHR) is well-positioned to capitalize on the growing AI and high-performance computing markets. COHR’s shifting focus toward AI and datacom is yielding tangible results.In fiscal 2025, the ...

Group 1 - The CoDesign 2025 International Symposium was successfully held in Osaka, Japan, focusing on the challenges of large-scale computing and big data, emphasizing the importance of hardware-software co-design for the development of high-performance computing (HPC) [1] - The conference highlighted four core areas: algorithms, application systems, system software and middleware, and hardware-software co-design architecture, covering key fields of high-performance and scalable computing [2] - Keynote speeches and technical presentations showcased cutting-edge research and developments, including the challenges of system fragmentation and the need for collaborative design between hardware and software [3] Group 2 - Roundtable discussions addressed the integration of HPC and AI, with experts sharing differing views on the future direction of computing architectures and the role of AI in scientific programming [4] - The pursuit of Zeta Scale computing was discussed, with experts identifying system reliability and power consumption as core obstacles to scaling [4] - The symposium provided a platform for global experts to share insights and reach consensus, which will significantly advance the integration of HPC and AI, addressing future challenges and opportunities in the computing field [4]

Core Viewpoint - High-performance computing (HPC) Ethernet aims to enhance rapid communication between computing nodes, minimizing latency and maximizing bandwidth to ensure fast and reliable data transmission [1] Group 1: Challenges in HPC Networks - The increase in data volume and computational demands has led to high operational costs, low scalability, and unexpected performance limitations [1] - Companies are rapidly expanding and investing in new hardware and cloud computing, resulting in overly complex networks and configurations [1] - Performance bottlenecks arise from data-intensive workloads, which hinder the potential of modern hardware [2] Group 2: Key Trends Causing Costly Issues - Slow information storage and retrieval in AI workflows obstruct downstream processes, especially as AI processors grow in scale and speed [2] - The increasing use of heterogeneous architectures can lead to bottlenecks due to mismatched interconnects among different models and generations [2] Group 3: Evolution of Network Technology - In the early 21st century, 10 Gigabit Ethernet (GbE) was seen as the ultimate goal for HPC, but it became clear that even 25 GbE and 40 GbE were insufficient for high-bandwidth workloads [4] - The IEEE P802.3df task group is developing an 800 GbE parallel structure, anticipating a 55-fold increase in bandwidth demand by 2025 compared to 2017 [4] Group 4: Solutions to Avoid Bloat and Bottlenecks - Professionals must balance between over-provisioning and under-utilization to meet customer demands while avoiding unnecessary expenses [5] - Dynamic load balancing algorithms can alleviate bottlenecks by redistributing traffic to underutilized nodes [5] - Strategic dataset placement can reduce latency by keeping frequently accessed information at the forefront of efficient systems [5] Group 5: Future Focus for HPC Networks - As AI technology advances, the scale of models will continue to grow, necessitating manufacturers to rapidly develop new computing hardware [6] - The exponential growth in computational demands and dataset sizes makes it essential for professionals to prepare for future challenges [6]

Group 1 - Core Scientific's shares experienced a slight decline after a significant 33% increase, following reports of CoreWeave's renewed interest in acquiring the company [1][5] - Last year, CoreWeave attempted to acquire Core Scientific for $5.75 per share, valuing the deal at over $1 billion, but the offer was rejected by Core Scientific [2][5] - Following the news, Core Scientific's stock closed at $16.36, with an additional 5% increase noted shortly before the market opened [2][5] Group 2 - Core Scientific has established a business relationship with CoreWeave, providing billions of dollars' worth of high-performance computing infrastructure [4] - CoreWeave rents access to Nvidia GPUs for companies like Microsoft to support their AI product models [4] - CoreWeave's shares have increased nearly 3% in recent trading and have quadrupled since their IPO in March [4]

Core Insights - HIVE Digital Technologies Ltd. reported total revenue of $115.3 million for FY2025, with a significant contribution from digital currency mining and high-performance computing (HPC) services [2][5] - The company achieved an adjusted EBITDA of $56.2 million, representing 48.7% of total revenue, despite a net loss of $3.0 million [5][6] - HIVE's digital currency mining revenue decreased by 5.2% year-over-year to $105.2 million, primarily due to the April 2024 Bitcoin halving and increased hash rate difficulty, although offset by a 40% increase in mining hashrate [5][6] Financial Highlights - Total revenue for FY2025 was $115.3 million, with digital currency mining contributing $105.2 million and HPC revenue at $10.1 million, which saw a 3x growth year-over-year [5][7] - The company mined 1,414 Bitcoin during the fiscal year, contributing to its digital asset holdings valued at $181.1 million, including 2,201 Bitcoin [5][6] - Gross operating margins were reported at $25.1 million, or 21.8% of total revenue, while general and administrative expenses increased to $16.6 million due to global expansion efforts [5][6] Management Insights - The company expanded its operational hashrate from 4.5 EH/s to 6.3 EH/s, a 40% increase, and acquired 300 MW of hydro-powered green energy sites in Paraguay [6][7] - HIVE aims to scale its Bitcoin mining business to 25 EH/s by December 31, 2025, and continues to grow its Buzz HPC business [6][7] - The transition from IFRS to US GAAP is expected to enhance comparability with U.S.-listed peers and support growth ambitions in U.S. capital markets [6][7] Q4 FY2025 Highlights - For Q4 FY2025, total revenue was $31.2 million, with digital currency mining revenue at $28.1 million, reflecting a 5.5% sequential increase [7] - The company mined 303 Bitcoin in Q4, a 6% decrease from the previous quarter due to increased hashrate difficulty [7] - Buzz HPC revenue reached a record $3.0 million during the quarter, up 18.5% sequentially, driven by strong demand in high-performance computing markets [7]

Group 1: Growth Stocks Overview - Growth stocks are experiencing significant momentum, with several small- and mid-cap stocks rising 40% or more in the past 30 days due to investor interest in innovative growth companies and the impact of AI development [1] - The Trump administration's efforts to roll back regulations are also contributing to this trend [1] Group 2: Viking Therapeutics (VKTX) - Viking Therapeutics has initiated its VANQUISH Phase 3 clinical program for VK2735, a dual GLP-1/GIP receptor agonist targeting obesity, which could transform the company into a pharmaceutical powerhouse [4] - The Phase 2 VENTURE study showed patients achieving up to 14.7% body-weight reduction after 13 weekly doses, with 95% of gastrointestinal side effects being mild or moderate [5] - The obesity market is projected to reach $150 billion by 2035, and Viking's oral formulation could significantly expand its addressable market compared to competitors requiring weekly injections [6] - Viking's comprehensive approach in trials for obesity and diabetes could support premium pricing, and if VK2735 meets its endpoints, the stock could potentially double or triple [7] Group 3: Applied Digital Corporation (APLD) - Applied Digital Corporation secured a $7 billion, 15-year hosting agreement with CoreWeave, validating its high-performance computing strategy [9] - Despite missing revenue expectations in Q3 FY2025, management anticipates significant growth as the Ellendale facility comes online starting Q4 2025 [10] - The AI boom is driving demand for high-performance computing infrastructure, positioning Applied Digital well to capture this growth [11] Group 4: Palantir Technologies (PLTR) - Palantir Technologies' stock is considered overvalued at 263 times forward earnings, yet it has risen 90% this year, indicating strong market confidence [12] - The Pentagon increased Palantir's Maven Smart System budget to $1.3 billion over four years, and the company is negotiating new contracts with various government agencies [13] - Commercial revenue grew 33% year over year to $397 million, contributing to total revenue of $884 million, a 39% increase, suggesting Palantir's software is becoming a standard for AI deployment [14] Group 5: Market Trends and Strategies - The market often overlooks companies with innovative solutions to significant problems, focusing instead on predictable business models [15] - Viking's oral alternative could attract patients averse to injectables, Applied Digital is developing AI infrastructure, and Palantir is establishing a recurring revenue stream from government contracts, all indicating a shift in market focus [16]

Core Insights - Eviden has 57 supercomputers listed in the TOP500 and Green500, making it the third-largest manufacturer globally and the largest in Europe, Latin America, and India [1][2][8] - The JUPITER supercomputer ranks 4 in the TOP500 and its JEDI partition ranks 1 in the Green500, showcasing Eviden's commitment to innovation and energy efficiency [2][7] - JUPITER can perform 1 quintillion double-precision operations per second and has already surpassed 790 petaflops, positioning it as a leader in tackling complex challenges [3][4] Company Overview - Eviden, part of the Atos Group, generates approximately €1 billion in revenue and operates in 36 countries, focusing on advanced computing, cybersecurity, mission-critical systems, and vision AI [9][11] - The company employs around 4,200 professionals and holds over 2,100 patents, emphasizing its innovative and eco-efficient solutions [10][9] Technological Advancements - JUPITER features around 24,000 NVIDIA GH200 Grace Hopper Superchips, optimized for parallel applications like AI model training and demanding simulations [5] - The supercomputer achieves over 60 billion floating point operations per watt, making it the most efficient Exascale-scale system globally [6][7] - JUPITER is designed to utilize waste heat for building heating, integrating into the Jülich campus heating network [6] Sustainability Commitment - Eviden leads the Green500 for the second consecutive edition, with JUPITER's JEDI partition and ROMEO both exceeding 70 billion floating point operations per watt [7] - The company has focused on sustainable technologies through innovations in system architecture, cooling systems, and software optimization [7][8]

Core Insights - HIVE Digital Technologies Ltd. has achieved a significant milestone by surpassing 10 Exahash per second (EH/s) in global Bitcoin mining hashrate, adding 1 EH/s each week for the last month [2][3] - The company is on track to meet its Phase 1 objective of 11.5 EH/s by the end of June 2025 and aims for a target of 25 EH/s by Q4 2025, with growth fully funded [3] - HIVE's subsidiary, Buzz HPC, has reached a $20 million annualized run-rate revenue in its GPU cloud business, one month ahead of schedule, reflecting strong operational momentum [4][5] Company Performance - HIVE's total operating hashrate is over 10 EH/s, with a global fleet efficiency of 20 Joules per Terahash [3] - The company is producing over 5 Bitcoin per day, with a consistent addition of approximately 1 EH/s of mining capacity weekly [6] - Buzz HPC has over 5,000 GPUs actively deployed, reinforcing HIVE's position in the GPU cloud infrastructure market [5][6] Executive Commentary - Frank Holmes, Co-Founder and Executive Chairman, highlighted the HPC growth exceeding expectations, with the GPU cloud business potentially valued at 10 to 20 times its annualized cash flows [6] - Aydin Kilic, President & CEO, expressed pride in the team's execution and the rapid scaling of Bitcoin mining capacity [6] Company Overview - HIVE Digital Technologies Ltd. is a leader in sustainable blockchain and AI infrastructure, operating in Canada, Sweden, and Paraguay [7] - The company was the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017 and continues to innovate while reducing its environmental footprint [7]

Company Overview - HIVE Digital Technologies Ltd. is a global leader in sustainable digital infrastructure, focusing on blockchain and AI technologies powered by green energy [7] - The company operates in Canada, Sweden, and Paraguay, and was the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017 [7] Bitcoin Mining Achievements - HIVE has surpassed a total operating hashrate of over 10 Exahash per second (EH/s) and is on track to reach its Phase 1 objective of 11.5 EH/s by the end of June 2025 [2][3] - The company has added approximately 1 EH/s of Bitcoin mining capacity each week for the last month, exceeding previous guidance [3][6] - HIVE is targeting a total hashrate of 25 EH/s by Q4 2025, with a global fleet efficiency of 20 Joules per Terahash [3] High-Performance Computing (HPC) Growth - HIVE's HPC subsidiary, Buzz HPC, has achieved a $20 million annualized run-rate revenue in its GPU cloud business, one month ahead of schedule [4][5] - The rapid scale-up of Buzz HPC includes over 5,000 GPUs actively deployed, reinforcing HIVE's position in GPU cloud infrastructure [5][6] - Executive commentary highlights the potential value of the GPU cloud business, estimated to be worth 10 to 20 times its annualized cash flows [6]