Exclusive: Ayar Labs, a decade-old chip startup backed by Nvidia and Advanced Micro Devices, has raised $500 million from investors https://t.co/n1ieRIvCEZ ...

March 2, 2026 05:02 AM GMT NVIDIA Corp. | North America Moving NVIDIA back to top pick in semis | What's Changed | | | | --- | --- | --- | | NVIDIA Corp. (NVDA.O) | From | To | | Top Pick Added | MU.O | NVDA.O | For the last two quarters NVIDIA has not moved while business has continued to strengthen - a function of concerns about the durability of current growth. Those concerns should turn to 2027 enthusiasm in the coming months. We see the stock at 18x CY27 EPS as a surprisingly good entry point. Key Take ...

2 March 2026 | 7:04AM HKT Portfolio Strategy Research CHINA STRATEGY AI changes the game (Part 3): The risks of (not) investing in AI The million dollar question for AI: Is AI a bubble? In Part 2 of this series, we introduce a new industry segmentation framework to (re)define the Chinese AI equity universe, thereby assisting us to analyze the evolving AI dynamics, and to systematically identify opportunities along the US$10tn Chinese AI value chain. Importantly, it also helps address one of the key question ...

March 1, 2026 11:28 PM GMT China Market-Wise | Asia Pacific M Idea Decoding China's Lagging Performance Outperformance of EM vs. China is mainly driven by an unprecedented memory cycle and under-representation of better-performing Chinese sectors in the index due to composition limits. We prefer A-shares over Hong Kong/offshore and real-asset focused sectors amid market and geopolitical uncertainty. China's YTD performance (MSCI China down by 1.2%) has significantly lagged broad EM (MSCI EM YTD up 15%) desp ...

March 1, 2026 09:00 PM GMT China Equity Strategy | Asia Pacific Focus List Changes – China/HK and China A-share Thematic We add GigaDevice (603986.SS) and remove Espressif Systems (688018.SS) in our China/HK Focus List and A-share Thematic List, we also add Sinopec (0386.HK) and remove Sunny Optical (2382.HK) in our China/HK Focus List. Morgan Stanley's Energy analyst, Jack Lu. is OW on Sinopec given: M Idea Morgan Stanley Asia Limited+ Laura Wang Equity Strategist Laura.Wang@morganstanley.com +852 2848-685 ...

March 1, 2026 03:44 PM GMT Advanced Micro-Fabrication Equipment Inc | Asia Pacific Robust finish to 2025 Reaction to earnings Unchanged Modest upside Modest revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research AMEC reported solid 2025 preliminary results: | M March 1, 2026 03:44 PM GMT | | Update | | --- | --- | --- | | Advanced Micro-Fabrication Equipment Inc Asia | Morgan Stanley Taiwan Limited+ Charl ...

2 March 2026 | 7:05AM HKT Portfolio Strategy Research CHINA STRATEGY AI changes the game (Part 4): Finding Alpha in China AI Chinese AI is not unified equity story In Part 2 of this series, we (re)define the Chinese AI equity universe, which contains 3012 stocks with a total market cap of US$10tn across 5 key AI thematic layers and 20 industries. In Part 3, we argue that the right-tail optionality from AI appears attractively discounted in current prices, although the extent of AI optimism embedded in valua ...

Summary of South Korea Tech February 2026 Export Tracker Industry Overview - **Industry**: South Korean Technology Sector - **Key Products**: Memory, OLED, Li-ion batteries, MLCC (Multi-layer Ceramic Capacitors) Core Insights 1. **Memory Exports Surge**: - Memory exports increased by **262% year-over-year (yoy)** in February 2026, marking the highest growth rate since tracking began in April 2012 despite having three fewer working days compared to February 2025 [1][2] - DRAM exports grew by **322% yoy**, while NAND chip exports rose by **378% yoy** and SSD exports by **289% yoy** [2] 2. **MLCC Exports Stabilize**: - MLCC exports showed minimal change, with a growth rate of **+0.5% yoy**, ending an eight-month streak of double-digit growth [1][8] - Samsung Electro-Mechanics (SEMCO) is expected to see a **12% yoy** revenue growth in 1Q26, driven by demand from AI servers and automotive applications [8] 3. **Display Exports Decline**: - Display exports fell by **4% yoy**, with LCD exports down **14% yoy** and OLED exports stable at **-0.4% yoy** [1][7] - LG Display's revenue is projected to decline by **10%** in 1Q26 due to downsizing in the LCD business, while Samsung Display is expected to see a **1% yoy** revenue increase [7] 4. **Li-ion Battery Exports Weakness**: - Li-ion battery exports decreased by **0.4% yoy**, attributed to a slowdown in U.S. EV demand, increased competition from Chinese EVs, and production shifts to foreign factories [1][9] 5. **Import Trends Correlate with HBM Shipments**: - Significant increases in imports of epoxide resins (+80% yoy) and plastic film (+87% yoy) from Japan indicate strong correlations with HBM shipments from Hynix and SEC, respectively [3][6] Additional Important Points - **Investment Drivers**: The strong performance in memory exports is largely driven by increased demand from AI server investments, particularly from major tech companies [2] - **Future Expectations**: - Hynix's revenue is expected to rise by **178% yoy** in 1Q26, while SEC's memory revenue is projected to increase by **233% yoy** [2] - The overall memory demand is anticipated to significantly outpace supply due to ongoing AI-related capital expenditures [19] Risks and Considerations - **Key Risks for Hynix**: - Potential deterioration in memory supply/demand dynamics, weaker demand for smartphones and PCs, and reduced AI-related capital expenditures could negatively impact HBM revenue and profit [17][19] - **Key Risks for Samsung Electronics**: - Risks include a major deterioration in memory supply/demand, contraction in smartphone margins, and loss of market share in mobile OLED [21] This summary encapsulates the key findings and insights from the February 2026 export tracker for the South Korean tech industry, highlighting significant growth in memory exports, stabilization in MLCC exports, and challenges faced by display and battery sectors.

英伟达豪掷40亿美元入股两大光通信巨头，为下一代AI算力架构的"光互联"时代提前锁定关键产能。 当地时间3月2日，英伟达宣布分别与光通信组件制造商Coherent和Lumentum建立多年合作关系：合作包含光学技术联合研发、未来产能与供货优 先权安排，以及英伟达给出的"数十亿美元级"多年采购承诺；同时，英伟达分别向两家公司各投资20亿美元，以支持其在美国本土的研发、未来 产能与运营扩张。 据追风交易台，摩根大通北美股票研究团队分析称，两笔交易在结构和意图上"实质相似"： 而巴克莱在最新研报中直指英伟达此次投资的核心诉求是共封装光学（CPO）的"供应保护"。 该行写道："促成交易的首要原因，是为英伟达在柜外互联（Scale-out）和柜内互联（Scale-up）两类CPO上保护供应。"在其看来，这更像是在为 更大规模的"光互联"时代推进"提前备料"，而不是一次短期的供需扰动。 这就像在果园结果前提前包下整座果园。随着AI集群规模的扩大，传统可插拔光模块将面临功耗和密度的物理极限。将光学组件与GPU直接封装 在一起的CPO（共封装光学）技术成为必然趋势。CPO将可插拔收发器直接集成至交换机内部，可降低数据中心运营 ...

Market Overview - U.S. stocks showed resilience, with investors buying the dip after initial selloffs due to geopolitical tensions, particularly U.S. and Israeli strikes on Iran [5][11] - The Dow Jones Industrial Average fell 0.15% to 48,904.78 points, while the S&P 500 gained 0.04% to 6,881.60 points, and the Nasdaq Composite increased by 0.36% to 22,748.86 points [11] Sector Performance - Gains in energy, technology, and defense stocks offset losses in other sectors, indicating a strong bid for AI-focused shares [1][11] - Defense stocks received a boost, with the Dow Jones U.S. Defense Index trading up following the conflict [10][11] - Energy companies outperformed due to rising oil prices, while travel and airline stocks suffered from increased costs and flight cancellations [8][9] Oil Market Impact - U.S. crude prices settled up 6% at $71.23 per barrel, while Brent crude rose 6.68% to $77.74 per barrel, reflecting market reactions to geopolitical events [9][11] - Several oil and gas facilities in the Middle East halted production, contributing to the surge in oil prices [9] Investor Sentiment - Investor confidence in U.S. markets remains strong, driven by optimism about productivity gains linked to artificial intelligence, despite concerns over rising oil prices [2][12] - Market participants believe the current disruptions are temporary, with expectations that issues in the oil sector will resolve [6][12] - Familiar high-performing stocks like Nvidia and Microsoft saw gains, with Nvidia up 3% and Microsoft climbing 1.5% [7][12]