Core Viewpoint - The SPDR Semiconductor ETF (XSD) has gained 43.15% over the past year due to increased AI infrastructure spending, but its equal-weight structure creates challenges as legacy players like Intel lag behind [1] Group 1: ETF Performance - The XSD ETF is up 11.85% year-to-date and has seen significant gains driven by AI demand [1] - Micron Technology's revenue surged 57% year-over-year to $13.64 billion in Q1 FY26, highlighting the strong demand for high-bandwidth memory [1] - The equal-weight structure of XSD means that underperformers like Intel can drag down overall returns, despite strong performances from other stocks [1] Group 2: Macro Factors - The trajectory of AI infrastructure spending is crucial for the continued success of XSD, with NVIDIA reporting high demand for cloud GPUs [1] - Micron's gross margins for Cloud Memory reached 66%, indicating strong pricing power driven by AI demand [1] - Geopolitical risks, particularly concerning Taiwan's semiconductor production, could significantly impact the global supply chain if disrupted [1] Group 3: Micro Factors - XSD's quarterly rebalancing can create tension between sector leaders and laggards, affecting overall fund performance [1] - Intel's recent decline of nearly 6% contrasts with Micron's 2.59% increase, which could erode returns until the next rebalance [1] - The fund's equal-weight discipline requires selling outperformers to buy laggards, which may limit potential gains if AI momentum continues [1]

Market Overview - U.S. markets experienced volatility due to escalating tensions with Iran and concerns over private credit, leading to a decline in major indices [1][3] - The S&P 500 decreased by 0.28%, the Dow Jones Industrial Average fell by 0.54%, and the Nasdaq Composite closed down by 0.31% [3] Oil Market - Oil prices increased by nearly 2% in U.S. trading amid fears of supply disruptions due to potential military action in Iran [1] Private Credit Market - Blue Owl Capital sold $1.4 billion in loan assets, raising concerns about liquidity and stability in the private credit market, resulting in a nearly 6% drop in its stock [2] - Other asset managers, including Blackstone and Apollo Global Management, also saw declines in their stock prices [2] Aerospace Industry - Airbus stock fell by 6% after the company announced that its deliveries for the year would be below analyst expectations, citing supplier-driven engine shortages as "unsatisfactory" [3] Artificial Intelligence Sector - Positive sentiment was noted at India's AI Impact Summit, with discussions involving leaders from Microsoft, OpenAI, and Qualcomm on the AI industry and semiconductor manufacturing [3] - Google DeepMind's CEO highlighted that the memory chip shortage remains a limiting factor for agentic AI [4] - Nvidia plans to invest up to $30 billion in OpenAI, which would value the startup at $730 billion pre-money [4]

公众号记得加星标⭐️，第一时间看推送不会错过。 如今谈及计算机存储器，大多数人会想到 "RAM"，或是手机、笔记本电脑中的长期存储空间。但在 这些简单术语背后，是一个庞大而迷人的半导体存储器技术生态系统，每种技术都有其自身的发展历 程、设计理念以及在现代电子设备中的作用。从本质上讲，计算机存储器用于存储信息 —— 从处理 器正在使用的指令与数据，到我们保存在固态硬盘和存储卡中的海量用户内容与系统文件。然而，不 同存储器在响应速度、数据保持时间以及每千兆字节成本方面并不相同。 本文将重点介绍四种现代计算机存储器：只读存储器（ROM）、动态随机存取存储器（DRAM）、 静态随机存取存储器（SRAM）以及闪存。每一种存储器都代表了速度、成本、功耗与数据持久性之 间的一种独特权衡。理解这些权衡不仅对硬件工程师至关重要，对发烧友、超频玩家、存储空间追求 者，以及任何希望优化性能、做出明智购买决策，或仅仅想了解驱动其计算机的技术原理的人来说， 同样不可或缺。 存储器的本质是什么？ 从核心来看，计算机存储器是计算系统中以二进制数字（比特）形式存储信息的部分，这些信息可供 处理器或图形处理器（GPU）等其他系统组件即时使用， ...

公众号记得加星标⭐️，第一时间看推送不会错过。 加州理工学院研究人员开发出一项技术，可让光在硅晶圆上传输时实现极低信号损耗，即便在可见光 波段，性能也逼近光纤。在芯片上实现这一效率水准，是光子集成电路（PIC）的重要突破，可让器 件在保持超高相干性的同时，最大限度降低能量损耗。 这些进展有望大幅拓展片上技术的应用能力，支撑光学时钟、旋转测量陀螺仪等高精密设备，同时优 化人工智能数据中心通信，并推动量子计算系统的发展。 尽管人们很少留意，光纤却是现代通信的骨干。它能近乎实时地在全球传输海量信息，其优势源于材 料构成与结构设计：光纤由纯度极高的玻璃制成，表面经过精密加工，异常光滑。光从一端入射后， 几乎全部传输至另一端，吸收与散射损耗极低，科学家将这一特性称为超低损耗性能。 类光纤损耗的光子集成电路 "锗硅酸盐波导不仅损耗极低，还能轻松实现光纤与半导体激光器之间的高效光传输，这对降低服务 器基础设施整体能耗至关重要。" 亨利・布劳特（Henry Blauvelt）说道，他是加州理工应用物理与 材料科学客座研究员、光子电路企业 Emcore 首席技术官，同时也是该论文作者之一。 在近红外波段，基于该新平台的器件性能 ...

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Feb. 19, 2026.U.S. markets had a shaky Thursday, pressured by Washington's escalating tensions with Iran and renewed worries over private credit. White House press secretary Karoline Leavitt said Wednesday that there were "many reasons and arguments that one could make for a strike against Iran," and President Donald Trump said Thursday he will decide within 10 days whether to take action.Concerns over oil supply in the ...

US stock futures slid on Friday as investors digested economic data that showed US economic growth cooling in the fourth quarter, while the Fed's favored inflation gauge heated up to end last year. Wall Street also kept an eye out for US-Iran tensions, private credit jitters, and a potential Supreme Court tariff decision. Contracts on the S&P 500 (ES=F) moved down roughly 0.3%, while Dow Jones Industrial Average futures (YM=F) fell 0.2%, coming off the end of a three-day winning streak on Thursday. Nasdaq ...

New York, New York--(Newsfile Corp. - February 19, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of GSI Technology Inc. (NASDAQ: GSIT) resulting from allegations that GSI Technology may have issued materially misleading business information to the investing public.SO WHAT: If you purchased GSI Technology securities you may be entitled to compensation without payment of any out of pocket fees or costs through a ...

U.S. equity markets are experiencing a volatile session this Thursday, February 19th, 2026, as investors grapple with a mix of disappointing corporate guidance, geopolitical tensions, and fresh economic data that complicates the outlook for interest rate cuts. After a strong performance on Wednesday led by technology gains, the major indexes have softened during midday trading, struggling to maintain upward momentum.Midday Market Performance and Index TrendsAs of midday, the major benchmarks are trading in ...

Key Takeaways RS Q4 earnings missed estimates, but sales rose 11.9% on higher shipments and pricing.RS saw strength in construction, manufacturing and aerospace, offset by soft semiconductor demand.RS guides for 5%-7% shipment growth and $4.50-$4.70 Q1 EPS with modest margin gains.Reliance, Inc. (RS) posted profits of $116.5 million or $2.22 per share for the fourth quarter of 2025, up from $105.3 million or $1.93 per share in the year-ago quarter.Barring one-time items, the company recorded earnings of $2. ...

We recently published 10 Losing Stocks in an Otherwise Optimistic Market. Axcelis Technologies Inc. (NASDAQ:ACLS) was one of the worst performers on Wednesday. Axcelis ended two straight days of gains on Wednesday, slashing 16.74 percent to finish at $82.01 apiece as investor sentiment was dampened by a dismal earnings performance in both the full-year and fourth quarter of 2025. In an updated report, Axcelis Technologies Inc. (NASDAQ:ACLS) said that net profit last year fell by 40.2 percent to $120.2 mi ...