{ "discovery_sources": [ { "access_mode": "public_rss_only", "coverage": "verified_unbound_candidate", "display": "SEMIVISION", "enabled": false, "evidence": "公开 RSS 核验；尚未绑定当前 follows handle", "feed_url": "https://tspasemiconductor.substack.com/feed", "focus": "半导体生态、光学收发、HBM 与供应链", "handle": "tspasemiconductor", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@tspasemiconductor/notes", "publication_url": "https://tspasemiconductor.substack.com", "source_id": "semivision", "tier": "待纳入" }, { "access_mode": "public_rss_only", "coverage": "verified_unbound_candidate", "display": "Temple 8 Research", "enabled": false, "evidence": "公开 RSS 核验；尚未绑定当前 follows handle", "feed_url": "https://temple8capital.substack.com/feed", "focus": "晶圆厂地缘、PCB、Chiplet 与 AI 结构性机会", "handle": "temple8capital", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@temple8capital/notes", "publication_url": "https://temple8capital.substack.com", "source_id": "temple-8", "tier": "待纳入" }, { "access_mode": "public_rss_only", "coverage": "verified_unbound_candidate", "display": "Shawarma Capital", "enabled": false, "evidence": "公开 RSS 核验；尚未绑定当前 follows handle", "feed_url": "https://shawarmacapital.substack.com/feed", "focus": "硬件、半导体、国防自动化与小型公司研究", "handle": "shawarmacapital", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@shawarmacapital/notes", "publication_url": "https://research.shawarmacapital.net", "source_id": "shawarma-capital", "tier": "待纳入" }, { "access_mode": "public_rss_only", "coverage": "verified_unbound_candidate", "display": "Artificially Intelligent, Naturally Confused", "enabled": false, "evidence": "公开 RSS 核验；尚未绑定当前 follows handle", "feed_url": "https://agenticaihype.substack.com/feed", "focus": "AI 新闻、芯片与产品动态", "handle": "agenticaihype", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@agenticaihype/notes", "publication_url": "https://agenticaihype.substack.com", "source_id": "agentic-ai-hype", "tier": "待纳入" } ], "generated_at": "2026-09-23 08:44:58 UTC", "items": [ { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-23 07:45:15 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "The expert who participated in this call is a Samsung packaging engineer specializing in HBM hybrid bonding research and development. With experience spanning equipment, process development, and R&D, he brings a broad perspective across the packaging stack and shared a number of practical insights throughout this discussion. The Starting Question If HBM stacks move to eight or even four layers, will that delay the adoption of hybrid bonding ? This was one of the questions I wanted to explore in this expert call. In this conversation, we discussed hybrid bonding technology from several angles, with a particular focus on HBM. We covered when hybrid bonding is likely to be adopted in HBM, what is currently holdin…", "handle": "damnang2", "item_id": "c699e3c3f5dccd0a9b4c3c05", "key_points": [ "The expert who participated in this call is a Samsung packaging engineer specializing in HBM hybrid bonding research and development.", "With experience spanning equipment, process development, and R&D, he brings a broad perspective across the packaging stack and shared a number of practical insights throughout this discussion." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-23 06:58:14", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Note: After organizing the content, I asked AI to help summarize and edit it.", "tickers": [], "tier": "Tier 3", "title": "[Expert Call Report] Samsung HBM Hybrid Bonding: From Technology to Volume Production", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://www.damnang.com/p/expert-call-report-hbm-hybrid-bonding" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-23 07:14:57 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Alibaba’s annual Apsara Conference is under way in Hangzhou and has just entered its second day. We are on the ground. The announcements themselves have already been widely reported, so rather than re-list them, this piece steps back and asks what Alibaba’s choices tell us about where China stands on AI: the models, the chips that run them, and the infrastructure that houses the chips. Two numbers have dominated the headlines. The first is 20 gigawatts: CEO Eddie Wu said the global data center capacity operated by Alibaba Cloud will exceed 20GW by 2032. The second is the V900, T-Head’s next-generation Zhenwu AI accelerator, which Wu touted as China’s most powerful chip. Read together, they point to two conclus…", "handle": "globalsemiresearch", "item_id": "05878eb8a8dec90676ba4251", "key_points": [ "Alibaba’s annual Apsara Conference is under way in Hangzhou and has just entered its second day.", "We are on the ground." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-23 06:43:35", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "China has the chip designs and the demand for a 20GW AI build-out; what it lacks is enough high-bandwidth memory.", "tickers": [], "tier": "指定关注", "title": "Dispatch from Hangzhou: What Alibaba's 20 Gigawatts and the V900 Say About Where China's AI Bottleneck Really Sits", "topics": [ "AI/算力", "中国科技产业链" ], "url": "https://gtoai.substack.com/p/dispatch-from-hangzhou-what-alibabas" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-22 16:26:04 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Over the past three months, many market participants have been concerned that memory prices would drop rapidly after peaking, following the path seen in past consumer electronics cycles. However, we already expressed our view in our report following our attendance at FMS in early August: we believe memory prices are more likely to settle into a longer plateau after reaching their peak. We can broadly divide the memory market into two segments: consumer electronics and AI. In the consumer electronics segment, memory price increases are indeed approaching their limit; however, due to persistent supply shortages and limited newly added capacity, we see little chance of a sharp pullback in consumer electronics mem…", "handle": "FundaAI", "item_id": "8352791e8c50d7faa511ba99", "key_points": [ "Over the past three months, many market participants have been concerned that memory prices would drop rapidly after peaking, following the path seen in past consumer electronics cycles.", "However, we already expressed our view in our report following our attendance at FMS in early August: we believe memory prices are more likely to settle into a longer plateau after reaching their peak." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-22 16:09:33", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Another beneficiary of emergence of Muse and other consumer agents", "tickers": [], "tier": "Tier 2", "title": "Preview|MU FY26Q4: Focusing on Earnings Sustainability; A Higher, Longer Plateau", "topics": [ "存储/HBM" ], "url": "https://fundaai.substack.com/p/previewmu-fy26q4-focusing-on-earnings" }, { "access_level": "public_rss", "author": "Nutty", "collected_at": "2026-09-22 14:56:40 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "Industry and technology analysis, not investment advice · The author may hold positions in the securities mentioned Executive Summary (Preview) An optical circuit switch (OCS) changes connections between fibers without converting light to electricity . It can remove equipment and power consumption associated with intermediate optical-electrical conversion and packet processing. Packet switches offer flexibility when communication partners change frequently. OCS suits high-volume traffic that can use the same connection for longer. Its economics depend on how many electrical switching stages it removes and how well the resulting circuits are utilized . The OCS can remain in service when the transceivers at eith…", "handle": "nuttycld", "item_id": "ab11cd216d6284f7a46433bb", "key_points": [ "Industry and technology analysis, not investment advice · The author may hold positions in the securities mentioned Executive Summary (Preview) An optical circuit switch (OCS) changes connections between fibers without…", "It can remove equipment and power consumption associated with intermediate optical-electrical conversion and packet processing." ], "publication_url": "https://nuttycld.substack.com", "published_at": "2026-09-22 13:04:11", "source_id": "nutty", "source_name": "Nutty", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Established suppliers lead today's OCS ramp, but integrated designs bring new competitors.", "tickers": [], "tier": "相邻公开源", "title": "Optical Switches for AI: Competition Beyond Mirrors", "topics": [ "光互连" ], "url": "https://nuttycld.substack.com/p/optical-switches-for-ai-competition" }, { "access_level": "public_rss", "author": "Irrational Analysis", "collected_at": "2026-09-22 14:56:28 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "Irrational Analysis is heavily invested in the semiconductor industry. Positions will change over time and are regularly updated. Opinions are authors own and do not represent past, present, and/or future employers. All content published on this newsletter is based on public information and independent research conducted since 2011. This newsletter is not financial advice and readers should always do their own research before investing in any security. Feel free to contact me via email at: irrational_analysis@proton.me There is a conference called ECOC that I am not attending but my small army of little birds has been sending info. First what prompted me to rush this. Coherent finally showed phase noise data o…", "handle": "irrationalanalysis", "item_id": "aed1c3713c53e188c41d5bf5", "key_points": [ "Irrational Analysis is heavily invested in the semiconductor industry.", "Positions will change over time and are regularly updated." ], "publication_url": "https://irrationalanalysis.substack.com", "published_at": "2026-09-21 19:44:13", "source_id": "irrational-analysis", "source_name": "Irrational Analysis", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Thanks to the friends who have been sending me conference info.", "tickers": [], "tier": "相邻公开源", "title": "[Emergency Lunch-Hour Market Memo] Coherent admits their CPO/NPO Laser is garbage + Cerebras delusional bonus roast", "topics": [], "url": "https://irrationalanalysis.substack.com/p/emergency-lunch-hour-market-memo" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-22 14:56:07 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Based on the case study library from our recently published META report, Meta Muse handles a substantial volume of high-frequency tasks, such as cross-platform price comparisons (e.g., up to 146 searches for a single travel itinerary), processing massive email backlogs, and automated phone negotiations. Because Meta proactively provisions persistent cloud-based execution environments for user agents, relying on headless browser automation and high-frequency API orchestration, the compute workload shifts heavily back to the CPU. If Muse reaches broad penetration across Meta’s social ecosystem, it will create substantial server CPU demand, keeping supply tight and supporting price hikes. Intel CEO Lip-Bu Tan als…", "handle": "FundaAI", "item_id": "bac0d98edd00a9a71a4e29b6", "key_points": [ "Based on the case study library from our recently published META report, Meta Muse handles a substantial volume of high-frequency tasks, such as cross-platform price comparisons (e.g., up to 146 searches for a single tr…", "Because Meta proactively provisions persistent cloud-based execution environments for user agents, relying on headless browser automation and high-frequency API orchestration, the compute workload shifts heavily back to…" ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-21 13:52:54", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Raising estimates on the clear personal agent beneficiary", "tickers": [], "tier": "Tier 2", "title": "Research|INTC: Muse Drives CPU Demand and Price Hikes Expand Upside; Foundry Execution on Track", "topics": [ "AI/算力", "晶圆制造/设备" ], "url": "https://fundaai.substack.com/p/researchintc-muse-drives-cpu-demand" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-22 14:56:07 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "We’ve been discussing Muse’s potential to reshape Meta’s business with our institutional clients for the past two weeks, especially during our weekly calls. We thought it was time to share that thinking here, too. Our view on Meta has shifted several times since we initiated coverage. We were bullish throughout 2024 and for most of 2025. Our initial optimism centered on Meta’s Conversions API (CAPI) and the Advantage+ suite built around it. Together, they materially improved conversion performance and campaign automation. The second catalyst was Meta’s generative recommendation system. We saw the value of scaling laws in recommendations and discussed both the mechanics and the ROI framework early on in our ear…", "handle": "FundaAI", "item_id": "0240ef05cce8f584a580c4db", "key_points": [ "We’ve been discussing Muse’s potential to reshape Meta’s business with our institutional clients for the past two weeks, especially during our weekly calls.", "We thought it was time to share that thinking here, too." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-21 12:31:45", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Insights from 654 Muse Use Cases and Our Advertising Agency Interview", "tickers": [], "tier": "Tier 2", "title": "Deep|META: Could Muse be the Inflection Point Market Looking for?", "topics": [], "url": "https://fundaai.substack.com/p/deepmeta-could-muse-be-the-inflection" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-22 14:56:07 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Source: FUNDA Happy Hour in Singapore First, thank you to everyone who joined our gathering in Singapore this week. Registration and attendance were well beyond our expectations, and the atmosphere was amazing. Members of both our analyst and developer teams were present and had great conversations with investors and industry experts. Next, our analyst Fabian will attend ECOC in Malaga, Spain on Sep 22-23 and will host a happy hour there. Please RSVP if you are interested. Coming back to the market, the AI hardware selloff after Amodei’s call for restraint looked overdone to us, and the subsequent rebound suggests investors are reconsidering what a slowdown would actually mean. We spoke with people at three fr…", "handle": "FundaAI", "item_id": "28ab84c653d5d37ee6fc405a", "key_points": [ "Source: FUNDA Happy Hour in Singapore First, thank you to everyone who joined our gathering in Singapore this week.", "Registration and attendance were well beyond our expectations, and the atmosphere was amazing." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-21 02:26:48", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Thank you for attending our Singapore happy hour", "tickers": [], "tier": "Tier 2", "title": "Weekly|Singapore Gathering, Malaga ECOC Happy Hour, AI Labs Keep Training, Optics Supply Tightens, AIDC Power, CRM Dreamforce, PLTR Sovereign AI, BE", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/weeklysingapore-gathering-malaga" }, { "access_level": "public_rss", "author": "Asymmetrical Bets", "collected_at": "2026-09-22 14:56:19 UTC", "content_status": "public_summary", "coverage": "matched_publication", "excerpt": "Over the past year, we’ve watched the companies that benefit from hyperscaler capex run hundreds of percent. We’ve covered most of them and identified AI bottlenecks one by one, discovering every tight spot of the supply chain. Hyperscalers haven’t had the same runs, because they’re the ones writing the checks. Meta is a great example. Despite amazing growth and record revenue quarter ($60.8B in Q2 2026, up 28% YoY), the stock is down 14% over the past year. The core business has been on fire, while Meta is on track to overtake Google Search as the world’s largest digital ad platform before year end. On top of that, on Q2 earnings call Meta confirmed it’s been receiving offers to buy its spare compute “at a me…", "handle": "UncleAlpha007", "item_id": "4e7f4f9f939dda4d68fa0bd3", "key_points": [ "Over the past year, we’ve watched the companies that benefit from hyperscaler capex run hundreds of percent.", "We’ve covered most of them and identified AI bottlenecks one by one, discovering every tight spot of the supply chain." ], "publication_url": "https://asymmetricalbets.substack.com", "published_at": "2026-09-20 22:00:01", "source_id": "asymmetrical-bets", "source_name": "Asymmetrical Bets", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Who Wins, Who Loses, and Why Muse Made Meta Our Top Pick", "tickers": [], "tier": "Tier 2", "title": "The Age Of Agentic Consumers", "topics": [ "AI/算力" ], "url": "https://asymmetricalbets.substack.com/p/the-age-of-agentic-consumers" }, { "access_level": "public_rss", "author": "Irrational Analysis", "collected_at": "2026-09-22 14:56:28 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "Irrational Analysis is heavily invested in the semiconductor industry. Positions will change over time and are regularly updated. Opinions are authors own and do not represent past, present, and/or future employers. All content published on this newsletter is based on public information and independent research conducted since 2011. This newsletter is not financial advice and readers should always do their own research before investing in any security. Feel free to contact me via email at: irrational_analysis@proton.me I like to think of the current state of the AI trade as this scene from Pirates of the Caribbean. Sure there is a public negotiation on “slowing down AI” but these are pirates. Why should any of…", "handle": "irrationalanalysis", "item_id": "073b37c76a7cf969edbe3ddc", "key_points": [ "Irrational Analysis is heavily invested in the semiconductor industry.", "Positions will change over time and are regularly updated." ], "publication_url": "https://irrationalanalysis.substack.com", "published_at": "2026-09-20 01:56:26", "source_id": "irrational-analysis", "source_name": "Irrational Analysis", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Pirates don’t agree to truces.", "tickers": [], "tier": "相邻公开源", "title": "[Market Memo] Calm Before the IPO Storm", "topics": [ "AI/算力" ], "url": "https://irrationalanalysis.substack.com/p/market-memo-calm-before-the-ipo-storm" }, { "access_level": "public_rss", "author": "Jimmy狐狸", "collected_at": "2026-09-18 09:33:53 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "本月的加息很遗憾，但一点也不意外。加息提高了资金成本，压缩了成长科技股的估值倍数，因此对不同板块、不同股票都有不同的影响，对我们的持仓也必须要进行调整。 接下来值得准备的机会，是油价和通胀压力缓解、盈利预期保持稳定之后的估值修复。中期选举可能影响这个过程的时间和强度。 因此，50% 股票、50% 现金可以作为现阶段的配置起点。 今年的市场回顾 截至 9 月 16 日，S&P 500 收于 7,551.81 点，YTD 上涨 10.3% ；Nasdaq-100 收于 28,945.06 点，上涨 14.6% 。 但这不是一段平稳的上涨。两个指数今年的最低收盘价都出现在 3 月 30 日，此后明显反弹。进入下半年，S&P 500 相对 6 月底仅上涨 0.7%，Nasdaq-100 则下跌 4.4%。 相信大部分人是这样的状态：YTD 仍然盈利，但最近几个月持仓承压。 板块之间的差异更大。以行业 ETF 观察，能源 XLE 今年上涨 43.2%，信息技术 XLK 上涨 27.8%；原材料 XLB 上涨 11.0%，工业 XLI 上涨 8.8%，医疗 XLV 上涨 8.4%，必需消费 XLP 上涨 7.3%。金融 XLF 仅上涨 2.1%，而公用事业 XLU、通信服务 XLC、可选消费 XLY 分别下跌 3.2%、4.0%、7.7%。小盘股代理 IWM 上涨 15.3%。 这些结果说明，2026 年既有 AI 投资扩张，也有能源价格上行和行业自身盈利变化。年末的情况会更加复杂，有中期选举、“AI 降速”论 和 油价的多重影响，板块轮动会更加频繁。 半导体 SOX 半导体指数今年上涨 58.8% ，SMH 上涨 51.5%…", "handle": "jimmyhuli", "item_id": "b1b579ee3b77502fcb5a5879", "key_points": [ "本月的加息很遗憾，但一点也不意外。加息提高了资金成本，压缩了成长科技股的估值倍数，因此对不同板块、不同股票都有不同的影响，对我们的持仓也必须要进行调整。", "接下来值得准备的机会，是油价和通胀压力缓解、盈利预期保持稳定之后的估值修复。中期选举可能影响这个过程的时间和强度。" ], "publication_url": "https://www.jimmyhuli.com", "published_at": "2026-09-18 09:23:39", "source_id": "jimmy-huli", "source_name": "Jimmy狐狸", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "加息与中期选举，两大宏观逆风，我该怎么办？", "tickers": [], "tier": "Tier 3", "title": "加息之后，中期选举之前：2026年收尾阶段的美股策略", "topics": [ "AI/算力" ], "url": "https://www.jimmyhuli.com/p/2026" }, { "access_level": "public_rss", "author": "FUNDA", "collected_at": "2026-09-18 20:54:09 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Dario Amodei’s call on September 12 to slow frontier AI development, backed by Sam Altman and Elon Musk, sparked a selloff in AI hardware stocks. We think the initial market reaction was overly pessimistic. Recent rebound suggests that investors are reassessing the implications. Source: FUNDA The key questions we ask ourselves are: (1) What’s Amodei’s true motives behind his “sudden” call to restrict AI research, including at his own company? (2) Could the industry actually slow down this time? (3) What does it mean for growth of the AI supply chain? To explore these questions, we spoke with three friends at leading frontier AI labs. Here’s our take. Subscribe now I. Why Amodei wants to slow the pace of AI? Am…", "handle": "FundaAI", "item_id": "806cd0a007ed34b93da98c26", "key_points": [ "Dario Amodei’s call on September 12 to slow frontier AI development, backed by Sam Altman and Elon Musk, sparked a selloff in AI hardware stocks.", "We think the initial market reaction was overly pessimistic." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-17 14:18:17", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Interviews with three frontier labs show why the hardware selloff after Amodei's call for restraint is overdone", "tickers": [], "tier": "Tier 2", "title": "Column|Nobody Is Actually Pausing AI. We Asked the Labs", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/columnnobody-is-actually-pausing" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-17 15:39:52 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "This article is based on an expert call lasting one to two hours. I plan to publish more institutional style expert call reports like this regularly on my Substack. I hope you will continue to follow and support my work. Note: After organizing the content, I asked AI to help summarize and edit it. Please note that some signs of AI assistance may be present in the writing. Subscribe now Interview Overview This conversation examined the benefits Intel’s process improvements can offer customers and the technologies needed to address power and memory challenges in AI systems. Drawing on my experience in foundry design and memory research, I asked about the conditions for applying these technologies. The expert des…", "handle": "damnang2", "item_id": "201339d1a0306a228318bfbe", "key_points": [ "This article is based on an expert call lasting one to two hours.", "I plan to publish more institutional style expert call reports like this regularly on my Substack." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-17 04:00:19", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Customer Value in 18A and 14A and Application Requirements for AI Memory Research", "tickers": [], "tier": "Tier 3", "title": "[Expert Call Report] Intel's Competitive Position", "topics": [ "AI/算力", "存储/HBM", "晶圆制造/设备" ], "url": "https://www.damnang.com/p/intels-process-and-system-technologies" }, { "access_level": "public_rss", "author": "Jason's Chips", "collected_at": "2026-09-17 06:39:03 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "This week, AI safety went mainstream. For a decade it was a niche concern of a small group in San Francisco that the rest of the industry treated as extremists. Now it is on Anderson Cooper, and the CEOs of the 3 largest frontier labs have said in writing that the industry should slow down. What is new is that this is a permanent shift in the Overton window for the entire AI regulatory environment. Permanent. Nobody can unsay what was said this week: the public has heard the fear from the people building the technology, the labs have told the public they will slow down, and a senator has a bill on the table. There is no going back to a world in which AI safety is not a mainstream concern, so AI has stopped bei…", "handle": "jasons_chips", "item_id": "dc56e2c1d400254d31cddeff", "key_points": [ "This week, AI safety went mainstream.", "For a decade it was a niche concern of a small group in San Francisco that the rest of the industry treated as extremists." ], "publication_url": "https://www.jasonschips.ai", "published_at": "2026-09-17 01:38:21", "source_id": "jasons-chips", "source_name": "Jason's Chips", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "are we doomed", "tickers": [], "tier": "Tier 2", "title": "AI Safety and the Market", "topics": [ "AI/算力" ], "url": "https://www.jasonschips.ai/p/ai-safety-and-the-market" }, { "access_level": "public_rss", "author": "Jason's Chips", "collected_at": "2026-09-17 06:39:03 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Hot Chips is a 3-day conference held at Stanford where the industry’s chip architects present their newest designs, and it covers memory, CPUs, GPUs, networking, and custom accelerators from an electrical and computer engineeri ng perspective. Each day has its own theme: day 1 was memory, day 2 was processing units, and day 3 was systems, networking, and custom silicon. Why does a chip design conference matter to the market? It details the roadmaps of the most important companies in the space, which feeds directly into competitive positioning, especially in the fabless layer. One layer deeper, these roadmaps determine demand for specific hardware components, and this year that means memory above everything els…", "handle": "jasons_chips", "item_id": "52cea164169be3e9d4d0f47b", "key_points": [ "Hot Chips is a 3-day conference held at Stanford where the industry’s chip architects present their newest designs, and it covers memory, CPUs, GPUs, networking, and custom accelerators from an electrical and computer e…", "Each day has its own theme: day 1 was memory, day 2 was processing units, and day 3 was systems, networking, and custom silicon." ], "publication_url": "https://www.jasonschips.ai", "published_at": "2026-09-17 01:33:06", "source_id": "jasons-chips", "source_name": "Jason's Chips", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "It was on X for a month and i forgor to post here", "tickers": [], "tier": "Tier 2", "title": "Hot Chips 2026: Full Conference Analysis", "topics": [ "存储/HBM" ], "url": "https://www.jasonschips.ai/p/hot-chips-2026-full-conference-analysis" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-17 06:39:02 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "The clearest takeaway from this year’s CIOE is that 1.6T orders and production schedules now extend into 2027. Demand is growing rapidly, and the availability of DSPs, lasers and PCBs will determine the pace of deliveries and vendor market share. Zhongji InnoLight (InnoLight), Eoptolink, Coherent and Lumentum have all entered volume production of 1.6T products, supported by the strongest customer bases and most secure supply chains. For second-tier vendors such as Cambridge Industries Group (CIG), Linktel and Source Photonics, growth will come first from higher 800G shipments, followed by the introduction of 1.6T products. Adoption of near-packaged optics (NPO) is broadening, creating additional demand for hig…", "handle": "FundaAI", "item_id": "35b6846766f00d65426e4142", "key_points": [ "The clearest takeaway from this year’s CIOE is that 1.6T orders and production schedules now extend into 2027.", "Demand is growing rapidly, and the availability of DSPs, lasers and PCBs will determine the pace of deliveries and vendor market share." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-16 13:32:28", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Demand is growing rapidly, and the availability of DSPs, lasers and PCBs will determine the pace of deliveries and vendor market share.", "tickers": [], "tier": "Tier 2", "title": "Research|Optics: CIOE Takeaway - 2026 Orders Extend into 2027, Supply Determines Who Delivers First", "topics": [], "url": "https://fundaai.substack.com/p/researchoptics-cioe-takeaway-2026" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-17 06:39:00 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "China has been talking up its “token economy” in earnest this year. In March the National Data Administration formally christened the token “Ciyuan” and started using it as a national statistic; at the end of August the Guiyang big data expo ran under a token-themed banner, with NDA chief Liu Liehong calling tokens “a new path for releasing the value of data elements” and the yardstick for how AI services get metered, priced, traded and settled. The headline number keeps moving. Daily token calls in China were roughly 100 billion at the start of 2024, about 100 trillion at the end of 2025, 140 trillion by March 2026, and, according to a Ministry of Industry and Information Technology briefing on September 11,…", "handle": "globalsemiresearch", "item_id": "da14e598e507463a68a4062b", "key_points": [ "China has been talking up its “token economy” in earnest this year.", "In March the National Data Administration formally christened the token “Ciyuan” and started using it as a national statistic; at the end of August the Guiyang big data expo ran under a token-themed banner, with NDA chi…" ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-16 13:13:40", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Compute scarcity forces China’s big clouds to buy most tokens externally, creating a token-factory supply chain the U. S. never needed", "tickers": [], "tier": "指定关注", "title": "China's Token Market Has a Strange Feature: Its Big Clouds Buy 60% of Their Tokens From Someone Else. Try Imagining AWS Doing That.", "topics": [ "AI/算力", "中国科技产业链" ], "url": "https://gtoai.substack.com/p/chinas-token-market-has-a-strange" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-17 06:39:02 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "After we published our AIDC report on 27 August, investors questioned our conversion of turbine nameplate capacity into data-center power. We had estimated that AIDC could claim roughly 18 GW of large gas-turbine nameplate in 2027, but investors felt our haircut to delivered power was too aggressive. The published version adjusted grid-connected units for derating, engineering readiness and PUE. For genuinely off-grid, behind-the-meter (BTM) units, we applied the engineering-readiness adjustment and then divided by an over-provisioning multiple of 1.9–3.0×. That multiple is the focus of this follow-up. We conducted another round of channel checks and rebuilt the coefficients linking IT load to nameplate capaci…", "handle": "FundaAI", "item_id": "1fda68b127c58834be947b33", "key_points": [ "After we published our AIDC report on 27 August, investors questioned our conversion of turbine nameplate capacity into data-center power.", "We had estimated that AIDC could claim roughly 18 GW of large gas-turbine nameplate in 2027, but investors felt our haircut to delivered power was too aggressive." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-16 12:31:47", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "A follow-up Q&A addressing the key questions we collected since our last popular deep dive.", "tickers": [], "tier": "Tier 2", "title": "Deep|AIDC: Answering Six Key Investor Questions", "topics": [], "url": "https://fundaai.substack.com/p/deepaidc-answering-six-key-investor" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-15 22:17:21 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "In mid-July, at the World Artificial Intelligence Conference (WAIC) in Shanghai, the most talked-about thing was the super node. The exhibitors ranged from the largest names in Chinese computing to relative newcomers. Huawei publicly showed its Ascend 950 super node (Atlas 950 SuperPoD) for the first time — its largest such system, binding more than a thousand accelerators into a single coherent domain. Alibaba displayed its Panjiu AL128, which packs a full rack of its own Zhenwu M890 chips and was named one of the show’s treasures. ZTE launched an OEX super node; Sugon brought an all-domestic cluster spanning a very large number of chips; and MetaX, Biren, Enflame, Moore Threads, Baidu, and even the RISC-V st…", "handle": "globalsemiresearch", "item_id": "0d813ef61bc1f7ee5f6d9815", "key_points": [ "In mid-July, at the World Artificial Intelligence Conference (WAIC) in Shanghai, the most talked-about thing was the super node.", "The exhibitors ranged from the largest names in Chinese computing to relative newcomers." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-15 14:05:33", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "China’s accelerators trail by a generation. The super node is how the industry plans to compete anyway - and why the value is moving off the chip", "tickers": [], "tier": "指定关注", "title": "The Rack, Not the Chip: China's Super-Node Strategy", "topics": [ "AI/算力", "中国科技产业链" ], "url": "https://gtoai.substack.com/p/the-rack-not-the-chip-chinas-super" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-15 08:01:16 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "HBM is a core technology that made the AI revolution possible. Even though it is more expensive than other memory, chip designers put more and more HBM into their accelerators as a memory solution with high bandwidth and large capacity to process AI workloads. As a result, HBM’s share of total DRAM wafers continued to grow, creating the current DRAM shortage. However, now in 2026, this trend is changing. There are reports from the industry that NVIDIA has lowered HBM per GPU in Rubin Ultra from 288GB to 192GB and is preparing 8 layers as the new standard. This is quite different from the structure of 16 layers or more that the industry expected a year ago. I have also been covering this HBM density peak while…", "handle": "damnang2", "item_id": "c2e24d1c02ba2d57ececf262", "key_points": [ "HBM is a core technology that made the AI revolution possible.", "Even though it is more expensive than other memory, chip designers put more and more HBM into their accelerators as a memory solution with high bandwidth and large capacity to process AI workloads." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-15 07:55:49", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "The era of the HBM density peak. A focused analysis of the memory supply and demand outlook for 2028", "tickers": [], "tier": "Tier 3", "title": "Is the 2028 Memory Downcycle Real?", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://www.damnang.com/p/is-the-2028-memory-downcycle-real" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-14 22:32:56 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Sector View This Week During 7–11 September, the SSE Composite Index fell 1.07% and the STAR 50 fell 1.52%. After an intraday pullback on Friday, the market narrowed its losses, but within electronic components, PCB and MLCC names still attracted buying. Optical-communications stocks were stronger on the week: InnoLight and Eoptolink rose about 14% and 10% respectively, while YOFC gained about 25%. The index pullback and the gains in some hardware names occurred at the same time; the market’s selection among technology stocks has become specific to orders, product upgrades and earnings delivery. US stocks rebounded on Friday but failed to recoup the week’s losses, with the S&P 500, the Nasdaq Composite and…", "handle": "globalsemiresearch", "item_id": "8af8f045201c9b1cbd5a4268", "key_points": [ "Sector View This Week During 7–11 September, the SSE Composite Index fell 1.07% and the STAR 50 fell 1.52%.", "After an intraday pullback on Friday, the market narrowed its losses, but within electronic components, PCB and MLCC names still attracted buying." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-14 17:02:00", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "I.", "tickers": [], "tier": "指定关注", "title": "AI Supply-Chain Weekly: OCS Shipments?", "topics": [ "AI/算力" ], "url": "https://gtoai.substack.com/p/ai-supply-chain-weekly-ocs-shipments" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-14 22:32:56 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Astra filled a weekly cap in seven days. Flash cut the cache and not the memory cycle. Muse bought the chart. Four labs said pacing and kept every run on. The week in five lines 1. Capability is split, not crushed. On Artificial Analysis, Fable 5.1 still leads or ties (about 65.7 vs 61.2). Astra’s prints sit in OSWorld 2.0 (72.6%), FrontierMath Tier 4 (97.6%), ExploitBench (100%) and Terminal-Bench 4.0 (57.9%). Official harnesses saturate; a third-party harness can cut the same model in half. 2. The workflow split is already live. Computer use, browsing, 3D/CAD, closed-form math and cheap single-task cost lean Astra. Long coding sessions, mergeable PRs, visual taste, long-document analysis and cache-heavy loop…", "handle": "globalsemiresearch", "item_id": "9c9c05c2c5f80446fc1a3b36", "key_points": [ "Astra filled a weekly cap in seven days.", "Flash cut the cache and not the memory cycle." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-14 15:52:22", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI US–China AI Weekly · 8–14 September 2026", "tickers": [], "tier": "指定关注", "title": "The $200 Option Expired", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://gtoai.substack.com/p/the-200-option-expired" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-14 22:31:01 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "On September 12, Anthropic CEO Dario Amodei published an essay, “We Must Pace the Frontier,” with a central message: “We must slow the pace at which we improve the capabilities of AI models.” OpenAI CEO Sam Altman responded on X that day: “I agree with Dario… Committing to having independent evaluators with employee-like access is a great idea, and we will do the same.” Elon Musk replied, “Dario is right,” while Demis Hassabis offered qualified support. Dario’s essay is, in part, an admission that safety engineering at AI labs has fallen behind model capabilities. The two types of incidents it describes, coordinated out-of-scope attacks by agents and evaluation activity spilling onto the real internet, point t…", "handle": "FundaAI", "item_id": "5b30e0e4cea626be1c2f7cd6", "key_points": [ "On September 12, Anthropic CEO Dario Amodei published an essay, “We Must Pace the Frontier,” with a central message: “We must slow the pace at which we improve the capabilities of AI models.” OpenAI CEO Sam Altman respo…", "Dario’s essay is, in part, an admission that safety engineering at AI labs has fallen behind model capabilities." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-14 13:16:05", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Who could win and lose from this saga?", "tickers": [], "tier": "Tier 2", "title": "Research|Cybersecurity: When AI Becomes the Hacker; Anthropic and OpenAI's Call to Slow Down Favors Security Platforms and Identity Vendors", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/researchcybersecurity-when-ai-becomes" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-14 22:31:01 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "In this note we summarise conference-season optics takeaways across recent investor conferences. Our senior analysts and would be attending the OCP Global Summit in San Jose on October 12–15 and represent Funda at Semtech’s Analyst Day on October 15. Please feel free to reach out. Lumentum Lumentum mentioned that laser demand still exceeds supply. They expect shortages to last another couple of years. New orders are coming in at the higher prices already agreed or above. CPO volumes continue to rise on schedule. Optical scale-up should start in H2 2027 and grow in 2028. Lumentum sees a roughly equal split between CPO and NPO in optical scale-up, with external lasers in all CPO systems and at least half of NPO…", "handle": "FundaAI", "item_id": "27d318c86293bdfa70d31f20", "key_points": [ "In this note we summarise conference-season optics takeaways across recent investor conferences.", "Our senior analysts and would be attending the OCP Global Summit in San Jose on October 12–15 and represent Funda at Semtech’s Analyst Day on October 15." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-14 12:32:43", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Conference takeaways reinforce a multi-year AI optics upcycle, with laser, DSP, switch and interconnect demand constrained by supply and customer qualifications rather than end demand.", "tickers": [], "tier": "Tier 2", "title": "Research|Optics: Conference Season Takeaways - Supply Tightness with Rising Prices; CPO/NPO and Scale-Across Accelerating", "topics": [ "AI/算力", "先进封装", "光互连" ], "url": "https://fundaai.substack.com/p/researchoptics-conference-season" }, { "access_level": "public_rss", "author": "Nutty", "collected_at": "2026-09-14 11:33:41 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "This is an analysis of industry and technology structure, not investment advice. The author may hold positions in securities mentioned. Imagine asking an AI in a shopping app, “Can you find me a vacuum that handles pet hair well?” As the AI looks through product information and answers, servers keep performing calculations. This use of an already-trained AI model is called inference . Inference chips are the semiconductors that perform those calculations. Part 1 explored whether handing some of a GPU’s work to chips designed for that work could reduce waste. Here, the question is what happens for the customer buying those chips: does better performance translate into lower operating costs? Amazon’s ($AMZN) AI…", "handle": "nuttycld", "item_id": "db3415ecf47422e4389653b0", "key_points": [ "This is an analysis of industry and technology structure, not investment advice.", "The author may hold positions in securities mentioned." ], "publication_url": "https://nuttycld.substack.com", "published_at": "2026-09-14 05:09:38", "source_id": "nutty", "source_name": "Nutty", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Do Faster Chips Make AI Cheaper to Run? How inference chips win customers, and how the companies behind them earn revenue and profit.", "tickers": [ "$AMZN" ], "tier": "相邻公开源", "title": "An Investor's Handbook IV - AI Inference (2)", "topics": [ "AI/算力" ], "url": "https://nuttycld.substack.com/p/an-investors-handbook-iv-ai-inference-220" }, { "access_level": "public_rss", "author": "Irrational Analysis", "collected_at": "2026-09-14 11:33:39 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "Positions will change over time and are regularly updated. Opinions are authors own and do not represent past, present, and/or future employers. All content published on this newsletter is based on public information and independent research conducted since 2011. This newsletter is not financial advice and readers should always do their own research before investing in any security. Feel free to contact me via email at: irrational_analysis@proton.me How was everyone’s weekend? This is a rhetorical question. I don’t actually care about your weekend. More of an excuse for me to share about mine. Twitter had a mini-meltdown while I was busy ca…", "handle": "irrationalanalysis", "item_id": "b127b241c75730dfa473673d", "key_points": [ "Positions will change over time and are regularly updated.", "Opinions are authors own and do not represent past, present, and/or future employers." ], "publication_url": "https://irrationalanalysis.substack.com", "published_at": "2026-09-14 04:18:45", "source_id": "irrational-analysis", "source_name": "Irrational Analysis", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Irrational Analysis is heavily invested in the semiconductor industry.", "tickers": [], "tier": "相邻公开源", "title": "[Market Memo] Qualcomm/Amazon, Apple C2 Modem, Credo uLED 30M Claim, Cerebras I/O Conspiracy Theory", "topics": [], "url": "https://irrationalanalysis.substack.com/p/market-memo-qualcommamazon-apple" }, { "access_level": "public_rss", "author": "FUNDA", "collected_at": "2026-09-14 11:33:26 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "That is the same relative setup we have been tracking since memory broke out: hardware names responding to incremental AI infrastructure demand while the index still waits on the macro prints. The research week was dominated by compute demand from a different angle. GPT-6 Astra is OpenAI’s first flagship with computer use as a core capability, and we read it as the Claude 3.7 moment for knowledge work: the demos moved from terminals into CAD, Excel, Blender and tax forms, and the addressable pool is an order of ma…", "handle": "FundaAI", "item_id": "4d4c6edc22a15ac50aea8f26", "key_points": [ "That is the same relative setup we have been tracking since memory broke out: hardware names responding to incremental AI infrastructure demand while the index still waits on the macro prints.", "The research week was dominated by compute demand from a different angle." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-14 01:46:38", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "The tape last week split again: broader indices leaned soft into PPI/CPI and the next FOMC, while semis held up on company-specific news, where SOX finished higher even as mega-cap tech traded mixed.", "tickers": [], "tier": "Tier 2", "title": "Weekly|AI Slowdown by Sector, GPT-6 Astra Computer Use, Delta VPD Re-accel, Enterprise AI Vol.3, SAIL FY27Q2, EMC Price Hikes", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://fundaai.substack.com/p/weeklyai-slowdown-by-sector-gpt-6" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-13 17:27:22 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Starting this week, we are launching a new Column series where we discuss interesting topics in a more casual way than our typical research. For this debut edition, we would like to share our view on the most widely debated topic over the weekend: whether AI should slow down its frontier expansion, and whether it would. Once again, X is awash in debate over slowing down AI. Anthropic is calling for slower development of frontier models and stronger safety oversight. We had a similar discussion a few weeks ago. This time, though, Dario has laid out a serious, detailed argument in a lengthy essay, and both Sam and Elon have expressed support. There’s plenty of skepticism. The most common argument is that trainin…", "handle": "FundaAI", "item_id": "274847b3ebd950a0780a3b04", "key_points": [ "Starting this week, we are launching a new Column series where we discuss interesting topics in a more casual way than our typical research.", "For this debut edition, we would like to share our view on the most widely debated topic over the weekend: whether AI should slow down its frontier expansion, and whether it would." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-13 17:11:26", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "AI development should not be slowed uniformly because release pace, training pace, and sector readiness differ sharply across industries.", "tickers": [], "tier": "Tier 2", "title": "Column|AI Doesn’t Move at One Speed, So Why Slow it Down as if it Does?", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/columnai-doesnt-move-at-one-speed" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-13 09:27:14 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "The badge still says V4.1. The architecture already left the V4 family. The larger Pro is still in training. None of this loosens 2026 HBM or DRAM. DeepSeek-V4.1-Flash went live on 10 September. The first market signal was not another leaderboard. The API name became deepseek-flash. Legacy Flash and Vision-Exp traffic was rerouted onto it. Off-peak cache-hit input is RMB 0.02 per million tokens, miss is RMB 1, output is RMB 4; peak doubles those rates. DeepSeek briefly wrote that from 14 September it would send all deepseek-v4-pro traffic to Flash and bill Flash prices — then walked that back and kept the Pro endpoint after demand showed up. Price, routing and naming moved on the same day. That is how a compan…", "handle": "globalsemiresearch", "item_id": "d87991b23d44c8c472bf24cc", "key_points": [ "The badge still says V4.1.", "The architecture already left the V4 family." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-13 09:17:52", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI NOTE · Model Brief · 12 September 2026", "tickers": [], "tier": "指定关注", "title": "DeepSeek Shipped the Next Generation as Flash", "topics": [ "存储/HBM" ], "url": "https://gtoai.substack.com/p/deepseek-shipped-the-next-generation" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-11 09:56:30 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "This article was written in collaboration with and summarizes a conversation and I had about memory that lasted nearly two hours. You can also read it on the their Substack. Subscribe now Author: Daniel Koss in collaboration with Damnang . Many of you will already know Damnang from his writing on X . I recently sat down with him for a conversation about one of the most important parts of the AI infrastructure stack: memory. Damnang is a semiconductor engineer working in Silicon Valley. His background is in digital chip design, and he follows memory and the broader semiconductor industry closely. We started with the basics. What is memory? Why do we need different types? And why does AI change the equation? The…", "handle": "damnang2", "item_id": "813c025660b13da6fb150c84", "key_points": [ "This article was written in collaboration with and summarizes a conversation and I had about memory that lasted nearly two hours.", "You can also read it on the their Substack." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-11 06:07:32", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "HBM, NAND, NVIDIA’s bargaining power, and the trade-offs between SK hynix, Samsung, Micron, Sandisk, and CXMT.", "tickers": [], "tier": "Tier 3", "title": "The AI Memory Masterclass with Damnang", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://www.damnang.com/p/the-ai-memory-masterclass-with-damnang" }, { "access_level": "public_rss", "author": "Asymmetrical Bets", "collected_at": "2026-09-11 09:56:32 UTC", "content_status": "public_summary", "coverage": "matched_publication", "excerpt": "Optical industry has been one of those sectors, that we’ve been covering since the start of our Substack. Our first article was about “AI next supercycle”, going from copper, which is limited because of its physical aspects, and switching to photonics as more power efficient solution on longer distances. Since February, most of the optical names have had asymmetrical runs, with: going from $43 to $230 (+434%) going from $635 to $1085 (+70%) going from $232 to $440 (+90%) going from $318 to $637 (+100%) These stocks performances are calculated from our February 19 article (seen above) to their ATHs, all of this happened in the span of 4 months. Because of these results, most people believe that this buildout is…", "handle": "UncleAlpha007", "item_id": "8214bb1fbfbc3caa2ca96d74", "key_points": [ "Optical industry has been one of those sectors, that we’ve been covering since the start of our Substack.", "Our first article was about “AI next supercycle”, going from copper, which is limited because of its physical aspects, and switching to photonics as more power efficient solution on longer distances." ], "publication_url": "https://asymmetricalbets.substack.com", "published_at": "2026-09-10 18:13:11", "source_id": "asymmetrical-bets", "source_name": "Asymmetrical Bets", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Goldman Sachs doubled its 2028 forecast in five months. We break down what changed, how 1.6T and 3.2T modules affect the market and, who can supply it.", "tickers": [], "tier": "Tier 2", "title": "From $69B to $148B: The AI Optics TAM Just Doubled", "topics": [ "AI/算力", "光互连" ], "url": "https://asymmetricalbets.substack.com/p/from-69b-to-148b-the-ai-optics-tam" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-11 09:56:10 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "This week, we continued our channel checks on AI spending at 10 enterprises. Companies are still extending AI access to more employees and embedding it in customer service, recruitment and internal business systems. At the same time, management teams are asking more pointed questions: are the most expensive models really needed? Does higher usage actually delivers higher enough returns? Can time savings translate into revenue growth or real cost reductions? These questions will directly shape the next round of AI budget allocation. Tracking account rollout alone is no longer enough to assess the next stage of enterprise AI growth. We also need to understand who is using the tools consistently, which business c…", "handle": "FundaAI", "item_id": "19a469244ea8b84e3454cbee", "key_points": [ "This week, we continued our channel checks on AI spending at 10 enterprises.", "Companies are still extending AI access to more employees and embedding it in customer service, recruitment and internal business systems." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-10 13:42:18", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "This report covers 10 enterprise samples. The table at the end shows how their AI spending has changed and their budget outlook.", "tickers": [], "tier": "Tier 2", "title": "Deep|LLM: Enterprise AI Adoption Survey (Vol. 3) – Diverging Spending Outlooks, with Production Use Cases Scaling Alongside More Granular Cost Controls", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/deepllm-enterprise-ai-adoption-survey" }, { "access_level": "public_rss", "author": "Claus Aasholm", "collected_at": "2026-09-11 09:56:33 UTC", "content_status": "public_summary", "coverage": "legacy_public_source", "excerpt": "When I saw Broadcom's new business model, I initially thought it would be hard, but that is not an excuse not to do it. A lot can be said about Hock Tan and the rest of the Broadcom crew, but calling them chickens would be wrong. I am no stranger to doing things the hard way. I would have chosen a different way of making a living if it were not for that. Life was certainly easier with a fat paycheck, restricted stock units, a company car and quarterly bonuses, but it was not better. You certainly shouldn't feel sorry for me or my choices; just realise that most people and companies choose the easy path. A bit more (or less) than what was done last week with exactly the same number of staff meetings (to establi…", "handle": "clausaasholm", "item_id": "8c6f3d58ac93d11e58a78607", "key_points": [ "When I saw Broadcom's new business model, I initially thought it would be hard, but that is not an excuse not to do it.", "A lot can be said about Hock Tan and the rest of the Broadcom crew, but calling them chickens would be wrong." ], "publication_url": "https://clausaasholm.substack.com", "published_at": "2026-09-10 11:09:08", "source_id": "semiconductor-business-intelligence", "source_name": "Semiconductor Business Intelligence", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "AI Business the Hard Way. Broadcom takes over as Google lose interest in owning Anthropic infrastructure. Owning Chip IP is a better deal.", "tickers": [], "tier": "公共遗留源", "title": "The Comms Company Formerly Known as Broad", "topics": [ "AI/算力" ], "url": "https://clausaasholm.substack.com/p/the-comms-company-formerly-known" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-09 09:45:34 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "As the AI era arrives, the memory hierarchy is becoming more varied and more complex. The clearest example is that over the past few months a DRAM maker, a NAND maker, and an accelerator maker each announced plans to add new memory next to HBM. When it became hard to fit all the data AI computation needs into expensive HBM, they set out to supplement capacity with other memory. What deserves attention here is not simply that the AI era uses a lot of memory. It is which memory hierarchy will become mainstream in the AI era, and which company will end up leading that structure. Memory now accounts for a larger share of AI system cost, so taking the lead in deciding how the memory that computation needs is connec…", "handle": "damnang2", "item_id": "71c3b39bde7ebcd5a6bde67e", "key_points": [ "As the AI era arrives, the memory hierarchy is becoming more varied and more complex.", "The clearest example is that over the past few months a DRAM maker, a NAND maker, and an accelerator maker each announced plans to add new memory next to HBM." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-09 09:44:50", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "TL;DR AI inference data splits into weights that are read constantly and context that is in use, versus weights that are read rarely and context that is waiting.", "tickers": [], "tier": "Tier 3", "title": "In the AI Era, Whoever Takes the Memory Hierarchy Wins", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://www.damnang.com/p/in-the-ai-era-whoever-takes-the-memory" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-08 17:36:29 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Last Week’s Sector View Global technology stocks fell early last week before recovering. The S&P 500 gained 0.1%, the Nasdaq Composite rose 0.4%, and the Dow Jones Industrial Average declined 0.3%. Semiconductors substantially outperformed the broader market, with SOXX up 2.2% and SMH up 2.5%. Higher oil prices and US Treasury yields pressured valuations early in the week, triggering a broad pullback in optical communications, memory, and richly valued technology stocks on September 1. Dovish commentary and expectations for AI capital spending subsequently supported a recovery. On Friday, much stronger-than-expected US payroll growth raised the probability of further rate hikes. The major indices ended the wee…", "handle": "globalsemiresearch", "item_id": "922607fd700c1214ed69b550", "key_points": [ "Last Week’s Sector View Global technology stocks fell early last week before recovering.", "The S&P 500 gained 0.1%, the Nasdaq Composite rose 0.4%, and the Dow Jones Industrial Average declined 0.3%." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-08 17:17:04", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "AI Supply-Chain Weekly", "tickers": [], "tier": "指定关注", "title": "AI Supply-Chain Weekly: ASIC Demand Estimates Rise as Delivery Capacity Faces Its Next Test", "topics": [ "AI/算力", "光互连" ], "url": "https://gtoai.substack.com/p/ai-supply-chain-weekly-asic-demand" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-08 02:18:23 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "GPT-6 Astra marks OpenAI’s first major version change since GPT-5 launched thirteen months ago. OpenAI points to three firsts to explain the new series. It is the first model pre-trained on more than 100,000 GPUs at the Stargate site in Texas, the largest training run in the company’s history. It is the first in which an earlier model played a substantial role in the training process. And it is the first flagship to ship with computer use as a core capability. Released on September 3, Astra is now broadly available to paid ChatGPT users, through the API, and on Azure and Bedrock. Pricing is $10 per million input tokens and $50 per million output tokens, 2.5 times Sol and the same as Fable 5.1, with a 1.05M-tok…", "handle": "FundaAI", "item_id": "70e2688bbcf343279a407e0f", "key_points": [ "GPT-6 Astra marks OpenAI’s first major version change since GPT-5 launched thirteen months ago.", "OpenAI points to three firsts to explain the new series." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-08 02:00:27", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Why computer use and AI-led research could fuel the next wave of compute demand", "tickers": [], "tier": "Tier 2", "title": "Deep|LLM: GPT-6 Astra Opens New Markets Beyond Coding; Scaling Laws Keep Driving Compute Demand", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/deepllm-gpt-6-astra-opens-new-markets" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-08 01:48:23 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Overview We initiate coverage of Delta Electronics (2308.TW), the broadest play on AI power spanning the grid-to-core value chain. We expect 2H26 revenue to re-accelerate on stronger AI PSU demand and explosive VPD module growth, with GPM expanding from 26Q4 on a better mix, economies of scale, and price pass-through, and OPM improving even faster. The market, in our view, has overlooked Delta’s DC/DC business: we estimate it jumps to ~8.3%/~12.2% of total revenue in 2026/2027 on the VPD ramp, where Delta holds >70% share at US$400–600 of content per TPU. At a ~50% GPM, the mix shift should more than offset HVDC’s margin dilution. Liquid cooling should grow another ~80% in 2027, led by AWS’s IRHx, while HVDC e…", "handle": "FundaAI", "item_id": "f17117ff15e896f6d4057509", "key_points": [ "Overview We initiate coverage of Delta Electronics (2308.TW), the broadest play on AI power spanning the grid-to-core value chain.", "We expect 2H26 revenue to re-accelerate on stronger AI PSU demand and explosive VPD module growth, with GPM expanding from 26Q4 on a better mix, economies of scale, and price pass-through, and OPM improving even faster." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-08 01:30:47", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "A broad AI power winner, with 2H26 revenue re-accelerating on AI PSU demand and VPD module growth", "tickers": [], "tier": "Tier 2", "title": "Deep|Delta Electronics: 2H26 Re-acceleration on Deck, VPD Still Overlooked", "topics": [ "AI/算力", "电源/散热" ], "url": "https://fundaai.substack.com/p/deepdelta-electronics-2h26-re-acceleration" }, { "access_level": "public_rss", "author": "Asymmetrical Bets", "collected_at": "2026-09-07 23:18:46 UTC", "content_status": "public_summary", "coverage": "matched_publication", "excerpt": "Back in June, we wrote about Anthropic proxy play, naming three biggest beneficiaries based on their balance sheet and stake in the company. We also covered its revenue trajectory, funding rounds, and more. At the time, the company had just filed its confidential S-1 with the SEC, stating that they’re planning to IPO before the end of this year. We’re now in September, and that S-1 is about to go public, with Anthropic going public in the next three months. This is going to be the biggest Initial Public Offering in the history of the stock market, beating SpaceX and every other company that went public before. Anthropic is expected to IPO at $2T valuation based on their projected 2028 revenue of $190-200B. We’…", "handle": "UncleAlpha007", "item_id": "3284b8d8f775486df0fd5cdb", "key_points": [ "Back in June, we wrote about Anthropic proxy play, naming three biggest beneficiaries based on their balance sheet and stake in the company.", "We also covered its revenue trajectory, funding rounds, and more." ], "publication_url": "https://asymmetricalbets.substack.com", "published_at": "2026-09-07 23:06:18", "source_id": "asymmetrical-bets", "source_name": "Asymmetrical Bets", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Specific stocks related to Cerebras and SpaceX went on 100%+ runs right before these IPOs. In this article we disclose best companies you can own before Anthropic lists.", "tickers": [], "tier": "Tier 2", "title": "The Anthropic Playbook: What To Buy, When To Sell", "topics": [], "url": "https://asymmetricalbets.substack.com/p/the-anthropic-playbook-what-to-buy" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-07 13:18:09 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "OpenAI released GPT-6 Astra, its computer-use-first flagship, on 2026-09-03, scoring 72.6% on OSWorld 2.0 with an average single-task time of roughly 40 minutes — down 47% from GPT-5.6 Sol’s ~75 minutes. This is not a routine flagship iteration: OSWorld 2.0 comprises 108 long-horizon tasks averaging 318 tool calls with a human median completion time of 1.6 hours, and Claude Opus 4.8, the strongest model at launch, scored only 20.6%. A 72.6% score means a model has approached the human line on real desktop long tasks for the first time, and this week’s core judgment follows directly: in the agent era, the bottleneck is shifting from the model itself to compute structure — CPU, desktop devices, and power. Figure…", "handle": "globalsemiresearch", "item_id": "7945785ba096c48c6faf96ce", "key_points": [ "OpenAI released GPT-6 Astra, its computer-use-first flagship, on 2026-09-03, scoring 72.6% on OSWorld 2.0 with an average single-task time of roughly 40 minutes — down 47% from GPT-5.6 Sol’s ~75 minutes.", "This is not a routine flagship iteration: OSWorld 2.0 comprises 108 long-horizon tasks averaging 318 tool calls with a human median completion time of 1.6 hours, and Claude Opus 4.8, the strongest model at launch, score…" ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-07 13:12:18", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI US–China AI Weekly · September 7, 2026 · This Week: Astra & the CPU Second Act / The Desktop Compute Wave / US–China Power", "tickers": [], "tier": "指定关注", "title": "72.6%: Astra Just Put Computer Use on the Adoption Curve — and the Bottleneck Moved to Compute Structure", "topics": [ "AI/算力" ], "url": "https://gtoai.substack.com/p/726-astra-just-put-computer-use-on" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-07 17:48:18 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "The software vs semi split that defined last week finally started to rebalance. Software that printed what the channel had been pointing to kept working through most of the week, while the semi tape spent the first half getting tagged by rates — the 10-year pushed to 4.8% on Tuesday, the highest since January 2025, after Warsh’s hawkish Jackson Hole turn had traders pricing hikes rather than cuts. By Friday the setup flipped: semis clearly outperformed, and memory names broke out. Near-term software short cover looks largely done, the outperformance looks stretched, and the momentum unwind in semis has already gone to an extreme — which leaves less of that particular overhang in the names that got hit hardest.…", "handle": "FundaAI", "item_id": "21b9730b673b16085ff0faa3", "key_points": [ "The software vs semi split that defined last week finally started to rebalance.", "Software that printed what the channel had been pointing to kept working through most of the week, while the semi tape spent the first half getting tagged by rates — the 10-year pushed to 4.8% on Tuesday, the highest si…" ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-07 12:52:39", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Semis finally showing some life？", "tickers": [], "tier": "Tier 2", "title": "Weekly|SNOW Data Flywheel & CoCo, Optics Scale-In, BE Delivery Debate, Enterprise AI Vol.2, CRDO/MDB/PANW", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://fundaai.substack.com/p/weeklysnow-data-flywheel-and-coco" }, { "access_level": "public_rss", "author": "Irrational Analysis", "collected_at": "2026-09-06 07:24:28 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "Irrational Analysis is heavily invested in the semiconductor industry. Positions will change over time and are regularly updated. Opinions are authors own and do not represent past, present, and/or future employers. All content published on this newsletter is based on public information and independent research conducted since 2011. This newsletter is not financial advice and readers should always do their own research before investing in any security. Feel free to contact me via email at: irrational_analysis@proton.me Two years ago, I attended Hot Chips in-person for the first time and somehow had the opportunity to meet one of my heroes, Jon of Asianometry. For some reason he gave me a shout out and overnigh…", "handle": "irrationalanalysis", "item_id": "f1571aa4865e07590f9590d3", "key_points": [ "Irrational Analysis is heavily invested in the semiconductor industry.", "Positions will change over time and are regularly updated." ], "publication_url": "https://irrationalanalysis.substack.com", "published_at": "2026-09-06 04:42:07", "source_id": "irrational-analysis", "source_name": "Irrational Analysis", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Spicy chips. No air conditioning.", "tickers": [], "tier": "相邻公开源", "title": "Hot Chips 2026: Irrational Recap", "topics": [], "url": "https://irrationalanalysis.substack.com/p/hot-chips-2026-irrational-recap" }, { "access_level": "public_rss", "author": "Nutty", "collected_at": "2026-09-06 07:24:30 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "Along with my friend of Crack The Market, we put his top-down view of market structure and capital allocation next to my bottom-up view of how chips are actually built , to take apart the layer that has quietly become the allocation mechanism for the entire AI buildout: advanced packaging. owns the market structure, the economics and the investment judgment; I own the process and the physics. One argument runs through the whole piece: yield, not capacity, is what the AI build is short of , and whoever owns the loop that learns it collects the rent, until the format changes. I write about the semiconductor and AI infrastructure supply chain from the physics up : chips, equipment, materials, packaging, memory, o…", "handle": "nuttycld", "item_id": "b10e69362eeeecf7f548210c", "key_points": [ "Along with my friend of Crack The Market, we put his top-down view of market structure and capital allocation next to my bottom-up view of how chips are actually built , to take apart the layer that has quietly become t…", "owns the market structure, the economics and the investment judgment; I own the process and the physics." ], "publication_url": "https://nuttycld.substack.com", "published_at": "2026-09-06 02:24:05", "source_id": "nutty", "source_name": "Nutty", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Yield, not capacity, is what the AI build is short of. Whoever owns the loop that learns it collects the rent, until the format changes.", "tickers": [], "tier": "相邻公开源", "title": "The Advanced Packaging Primer", "topics": [ "AI/算力", "先进封装" ], "url": "https://nuttycld.substack.com/p/the-advanced-packaging-primer" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-04 08:35:20 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "The last Optical Investing Round Two piece covered why this is a good moment to look at optics again, and roughly how the names sort out. This one redraws the map as of September 2026, converting the direction of optical technology, the valuation of each stock, and the expectations already priced in into factors. Optics is still out of the spotlight, so I go through it in detail: the stocks that can produce good returns from here, the ones worth picking up if they fall a bit further, and the ones worth owning now even at a slightly higher price . Disclaimer This article is for informati…", "handle": "damnang2", "item_id": "bb0cd1b2828e7a1cb235b947", "key_points": [ "The last Optical Investing Round Two piece covered why this is a good moment to look at optics again, and roughly how the names sort out.", "This one redraws the map as of September 2026, converting the direction of optical technology, the valuation of each stock, and the expectations already priced in into factors." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-04 08:10:58", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Redrawing the optical investment map with technology direction, valuation, and market expectation all converted into factors.", "tickers": [], "tier": "Tier 3", "title": "Optical, Round Two: The Mispriced, the Conditional, and the Worth Paying Up For", "topics": [ "光互连" ], "url": "https://www.damnang.com/p/optical-round-two-the-mispriced-the" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 08:35:03 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Cover | Astra pulls the capability frontier from the chat window to the operating system (G2AI brand visual) Core Judgments 1. The release cadence of this cycle is now set, and the beat belongs to OpenAI Astra. OpenAI launched GPT-6 Astra on September 3, 2026, roughly two months after the GPT-5.6 family; with that, both OpenAI’s and Anthropic’s marquee releases of the cycle are done. The next entrant is Grok 4.7 — Musk said on September 2 it is “about 10 days out,” pointing to roughly September 12 — but the real variable has already arrived ahead of schedule. 2. The surprise is not the leaderboards. It is the generalization of computer use. OSWorld 2.0 moved from 65.7% at roughly 75 minutes per task to 72.6% a…", "handle": "globalsemiresearch", "item_id": "65888681a108d0382e818804", "key_points": [ "Cover | Astra pulls the capability frontier from the chat window to the operating system (G2AI brand visual) Core Judgments 1.", "The release cadence of this cycle is now set, and the beat belongs to OpenAI Astra." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-04 04:35:11", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI Special Report | September 4, 2026", "tickers": [], "tier": "指定关注", "title": "OSWorld Task Time −47%: OpenAI Astra Is the First Counter-Evidence to the AI-Bubble Trade", "topics": [], "url": "https://globalsemiresearch.substack.com/p/osworld-task-time-47-openai-astra" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Cover | Astra pulls the capability frontier from the chat window to the operating system (G2AI brand visual) Core Judgments 1. The release cadence of this cycle is now set, and the beat belongs to OpenAI Astra. OpenAI launched GPT-6 Astra on September 3, 2026, roughly two months after the GPT-5.6 family; with that, both OpenAI’s and Anthropic’s marquee releases of the cycle are done. The next entrant is Grok 4.7 — Musk said on September 2 it is “about 10 days out,” pointing to roughly September 12 — but the real variable has already arrived ahead of schedule. 2. The surprise is not the leaderboards. It is the generalization of computer use. OSWorld 2.0 moved from 65.7% at roughly 75 minutes per task to 72.6% a…", "handle": "globalsemiresearch", "item_id": "1b5cc593eef67dfa44519653", "key_points": [ "Cover | Astra pulls the capability frontier from the chat window to the operating system (G2AI brand visual) Core Judgments 1.", "The release cadence of this cycle is now set, and the beat belongs to OpenAI Astra." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-04 04:35:11", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI Special Report | September 4, 2026", "tickers": [], "tier": "指定关注", "title": "OSWorld Task Time −47%: OpenAI Astra Is the First Counter-Evidence to the AI-Bubble Trade", "topics": [], "url": "https://gtoai.substack.com/p/osworld-task-time-47-openai-astra" }, { "access_level": "public_rss", "author": "Asymmetrical Bets", "collected_at": "2026-09-04 08:35:25 UTC", "content_status": "public_summary", "coverage": "matched_publication", "excerpt": "We’ve talked about Ciena in the past, and it’s one of our best performing positions in our portfolio on AutoPilot called “Photonics Is Next” , because we discovered it as early as March, at the NVIDIA GTC. The stock is at its 6-month low, even though they just reported their record quarter. That’s why we decided to break down “the only pure-play optical systems and interconnects provider operating at scale today”. Ciena reported their Q3 FY2026 before today’s session opened. Revenue came in at $1.67B and EPS at $2.11, against estimates of $1.64B (beat by 2%), and $1.73 (beat by 22%). Even though they beat across the board, the stock dropped 11% in the first trading hour, and as of writing, it sits around $310.…", "handle": "UncleAlpha007", "item_id": "106451abe322c2724fc3c620", "key_points": [ "We’ve talked about Ciena in the past, and it’s one of our best performing positions in our portfolio on AutoPilot called “Photonics Is Next” , because we discovered it as early as March, at the NVIDIA GTC.", "The stock is at its 6-month low, even though they just reported their record quarter." ], "publication_url": "https://asymmetricalbets.substack.com", "published_at": "2026-09-03 23:09:12", "source_id": "asymmetrical-bets", "source_name": "Asymmetrical Bets", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "#1 in data center interconnect with $10B in backlog. But the stock is at a 6-month low.", "tickers": [ "$CIEN" ], "tier": "Tier 2", "title": "$CIEN: Record Quarter, Record Selloff", "topics": [ "光互连" ], "url": "https://asymmetricalbets.substack.com/p/cien-record-quarter-record-selloff" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 08:35:03 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "G2AI Info is our column for exclusive news and analysis, built on conversations with people across the industries we cover. In our AI weekly we struck a rather skeptical tone when we titled one piece “China’s AI Labs Are Selling Annualized Orders, Not Revenue.” But something notable is happening to Zhipu’s business model. Its H1 results, released on monday, show that the MaaS open platform and API business brought in RMB 825 million, or 86.5% of total revenue. A year earlier that share was 15.2%. As recently as full-year 2025 the mix ran the other way: on-premise deployment made up 73.7% of revenue. It is now 13.5%. The rest is for paid subscribers only. Inside, you can expect: Why that sources thinks the mode…", "handle": "globalsemiresearch", "item_id": "120e8dd9f2f20a750e26e959", "key_points": [ "G2AI Info is our column for exclusive news and analysis, built on conversations with people across the industries we cover.", "In our AI weekly we struck a rather skeptical tone when we titled one piece “China’s AI Labs Are Selling Annualized Orders, Not Revenue.” But something notable is happening to Zhipu’s business model." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-03 14:02:49", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Exclusive from the G2AI INFO column", "tickers": [], "tier": "指定关注", "title": "G2AI Info | Exclusive: Zhipu's Business Model Is Finally Working. Now It Wants a Cut From the Clouds.", "topics": [ "AI/算力" ], "url": "https://globalsemiresearch.substack.com/p/g2ai-info-exclusive-zhipus-business" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "G2AI Info is our column for exclusive news and analysis, built on conversations with people across the industries we cover. In our AI weekly we struck a rather skeptical tone when we titled one piece “China’s AI Labs Are Selling Annualized Orders, Not Revenue.” But something notable is happening to Zhipu’s business model. Its H1 results, released on monday, show that the MaaS open platform and API business brought in RMB 825 million, or 86.5% of total revenue. A year earlier that share was 15.2%. As recently as full-year 2025 the mix ran the other way: on-premise deployment made up 73.7% of revenue. It is now 13.5%. The rest is for paid subscribers only. Inside, you can expect: Why that sources thinks the mode…", "handle": "globalsemiresearch", "item_id": "0f9d827be4fdb0cead8bca48", "key_points": [ "G2AI Info is our column for exclusive news and analysis, built on conversations with people across the industries we cover.", "In our AI weekly we struck a rather skeptical tone when we titled one piece “China’s AI Labs Are Selling Annualized Orders, Not Revenue.” But something notable is happening to Zhipu’s business model." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-03 14:02:49", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Exclusive from the G2AI INFO column", "tickers": [], "tier": "指定关注", "title": "G2AI Info | Exclusive: Zhipu's Business Model Is Finally Working. Now It Wants a Cut From the Clouds.", "topics": [ "AI/算力" ], "url": "https://gtoai.substack.com/p/g2ai-info-exclusive-zhipus-business" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-04 08:35:10 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Comparing Conclusions Across the Two Rounds, and What Is New This Round This round covers 7 enterprise samples plus 1 cross-client enterprise AI transformation consultant, taking the two rounds together to 19 enterprise samples and 2 consultants. Both rounds asked the same set of questions, but of entirely different companies, roughly a week apart, so differences between the rounds reflect sample composition and do not constitute a time series. We therefore group the read-across into three parts: which conclusions the second set of samples independently corroborates, which mechanisms and constraints did not appear in the first round, and which differences should be attributed to sample type. A. Conclusions ind…", "handle": "FundaAI", "item_id": "0bdaa0cabd37d4d09b4651cd", "key_points": [ "Comparing Conclusions Across the Two Rounds, and What Is New This Round This round covers 7 enterprise samples plus 1 cross-client enterprise AI transformation consultant, taking the two rounds together to 19 enterprise…", "Both rounds asked the same set of questions, but of entirely different companies, roughly a week apart, so differences between the rounds reflect sample composition and do not constitute a time series." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-03 13:31:31", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "The 2nd Edition of Our Large Scale Survey", "tickers": [], "tier": "Tier 2", "title": "Deep|LLM: Enterprise AI Application Research (Vol.2) - Growth Keeps Flowing into Production Workflows; ROI Realization Is Gated by the Hours-Saved Threshold", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/deepllm-enterprise-ai-application-2e9" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-04 08:35:10 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "This was another exciting quarter for Snowflake. Our channel checks on CoCo and CoWork were very positive, but we were somewhat cautious on FY27Q2 due to tough comps and more constructive on FY27Q3. The results suggest that the data flywheel driven by CoCo and CoWork is stronger than we expected and has not been materially constrained by tough comparisons. A Review of Our Snowflake View Over the Past Several Quarters We first turned positive on Snowflake’s inflection in FY25Q3. We viewed Iceberg as incremental rather than dilutive and called for Snowflake to slow hiring and refocus on operating margin. SNOW has, in fact, slowed hiring meaningfully over the following quarters. In our FY26Q3 Preview, we expected…", "handle": "FundaAI", "item_id": "e8ea1d45116ff91ac04bf5af", "key_points": [ "This was another exciting quarter for Snowflake.", "Our channel checks on CoCo and CoWork were very positive, but we were somewhat cautious on FY27Q2 due to tough comps and more constructive on FY27Q3." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-03 12:26:36", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Our Preview Hit it Again", "tickers": [], "tier": "Tier 2", "title": "Review|SNOW FY27Q2: Beyond a Single Product, a Data Flywheel That Merits a Longer Horizon", "topics": [], "url": "https://fundaai.substack.com/p/reviewsnow-fy27q2-beyond-a-single" }, { "access_level": "public_rss", "author": "Jimmy狐狸", "collected_at": "2026-09-04 08:35:15 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "有用的话，请分享并 subscribe 本文为公开市场研究笔记，仅供信息交流与研究参考，不构成投资建议。 市场并没有否定 AI 需求，但明显提高了对增长质量的要求。WTI 上涨 5.20% 至 $90.22，美国 10 年期国债收益率约 4.79%，30 年期超过 5.28%。长端利率与能源价格同步上行，高 duration 成长股先承受估值压力。 基本面给出的信号很强。NVDA 最新季度收入同比增长 106%，DELL 单季取得 $60.9B AI server 订单，期末 backlog 达 $95B。服务器、存储、互连与软件使用量都在扩张，说明 AI 基建周期仍有真实需求支撑。 市场真正开始追问的是另一组问题：这些订单能否保住 gross margin，能否转换成 OCF 与 FCF，客户是否有能力长期支付，以及已经宣布的 data center 项目何时真正接通电力。CRDO 收入大幅增长后仍下跌，PENG 的应收账款与库存快速上升，都是同一套定价逻辑的体现。 因此，今天的重点不是在“AI boom”与“AI bubble”之间二选一，而是把产业链逐层拆开。需求仍强是一项事实，资本成本上升也是事实；订单规模值得关注，但股东最终获得的回报取决于利润率、现金转换、订单能否维持、和融资闭环。 AI 订单没有转弱，但订单已经不是市场关注重点 NVDA Q2 FY27 收入为 $96.2B，同比增长 106%，Data Center 收入为 $89.0B，同比增长 117%，GAAP gross margin 为 75.0%。公司给出的 Q3 收入指引为 $108B ±2%，且没有计入中国 Data Center c…", "handle": "jimmyhuli", "item_id": "7c3be8bb918c832c5270585f", "key_points": [ "有用的话，请分享并 subscribe 本文为公开市场研究笔记，仅供信息交流与研究参考，不构成投资建议。", "市场并没有否定 AI 需求，但明显提高了对增长质量的要求。WTI 上涨 5.20% 至 $90.22，美国 10 年期国债收益率约 4.79%，30 年期超过 5.28%。长端利率与能源价格同步上行，高 duration 成长股先承受估值压力。" ], "publication_url": "https://www.jimmyhuli.com", "published_at": "2026-09-03 09:19:56", "source_id": "jimmy-huli", "source_name": "Jimmy狐狸", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "债务推动的 AI", "tickers": [], "tier": "Tier 3", "title": "美股阅读日报 — 2026 年 9 月 3 日", "topics": [ "AI/算力" ], "url": "https://www.jimmyhuli.com/p/2026-9-3" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-02 13:56:39 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Executive Summary AIDC power scarcity remains the structural driver. We estimate North America faces a ~15GW AI power shortfall in 2027, as grid interconnection, turbine lead times, and downstream power infrastructure constrain how much announced capacity can actually be energized. This keeps time-to-power at a premium and supports Bloom’s behind-the-meter SOFC value proposition. The debate has shifted from demand to execution. Production slots appear substantially booked through 2028, but the market is increasingly focused on whether Bloom can convert headline capacity into shippable MW and site deliveries. We model ~2.7GW YE27 manufacturing capacity and ~2.2GW of 2027 deliveries vs. ~2.0GW consensus, with su…", "handle": "FundaAI", "item_id": "d9a8761992a329193e5daf7f", "key_points": [ "Executive Summary AIDC power scarcity remains the structural driver.", "We estimate North America faces a ~15GW AI power shortfall in 2027, as grid interconnection, turbine lead times, and downstream power infrastructure constrain how much announced capacity can actually be energized." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-02 13:53:52", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "BE’s AIDC demand thesis remains supported by a ~15GW North America AI power shortfall in 2027, but the debate has shifted to delivery execution.", "tickers": [], "tier": "Tier 2", "title": "Deep|BE: The Debate Has Shifted from AIDC Demand to Delivery Execution", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/deepbe-the-debate-has-shifted-from" }, { "access_level": "public_rss", "author": "Asymmetrical Bets", "collected_at": "2026-09-02 07:47:14 UTC", "content_status": "public_summary", "coverage": "matched_publication", "excerpt": "is one of just 4 stocks in our hyper-concentrated $18M Asymmetrical Bets fund, which holds at any given time the handful of stocks we believe have the most asymmetrical upside. After selling off hard today with macro pressure, dropped another 10% after it released its earnings. While the timing is unfortunate, the deep dive we were preparing for you guys couldn’t come at a better time. With this stock down over 15% in one day, it’s the perfect time to educate yourself on one of the AI buildout’s biggest winners. Connectivity has become nearly as important as memory over the past months, and every company that’s in the supply chain runs into the the same exact problem: They can’t ship enough. We’re not gonna pr…", "handle": "UncleAlpha007", "item_id": "efacdb03652de124a2658911", "key_points": [ "is one of just 4 stocks in our hyper-concentrated $18M Asymmetrical Bets fund, which holds at any given time the handful of stocks we believe have the most asymmetrical upside.", "After selling off hard today with macro pressure, dropped another 10% after it released its earnings." ], "publication_url": "https://asymmetricalbets.substack.com", "published_at": "2026-09-02 00:59:03", "source_id": "asymmetrical-bets", "source_name": "Asymmetrical Bets", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "5 of 6 hyperscalers as customers, and 88% AEC share. Company breakdown and Q1 earnings analysis.", "tickers": [ "$CRDO" ], "tier": "Tier 2", "title": "$CRDO: The AI Buildout Comes Down To The Wire", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://asymmetricalbets.substack.com/p/crdo-the-ai-buildout-comes-down-to" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-09-01 19:03:08 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "TL;DR Capex by the four largest hyperscalers is on track to exceed $700B in 2026. The demand signal is strong, but each layer responds on a different clock, and capacity further down the stack moves more slowly and less reversibly. Power and grid now govern the turn-on timing of new AI capacity. At the same time HBM and advanced packaging still gate the shipment of accelerators that have already been ordered. Bottlenecks move, but the earlier constraint does not disappear. Shortage on its own is not an investment thesis. Scarcity becomes pricing power only after passing through qualified supplier set, switching time, substitution path and contract structure. Only then is it worth asking whether that price ampl…", "handle": "damnang2", "item_id": "1c73961aef2a6c64cf834877", "key_points": [ "TL;DR Capex by the four largest hyperscalers is on track to exceed $700B in 2026.", "The demand signal is strong, but each layer responds on a different clock, and capacity further down the stack moves more slowly and less reversibly." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-09-01 16:31:54", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Where the Constraints Sit, How They Move, and Who Captures the Economics", "tickers": [], "tier": "Tier 3", "title": "The AI Investment Map: From Tokens to Megawatts", "topics": [ "AI/算力", "存储/HBM", "先进封装" ], "url": "https://www.damnang.com/p/the-ai-investment-map-from-tokens" }, { "access_level": "public_rss", "author": "FUNDA", "collected_at": "2026-09-01 19:02:52 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Sales Execution Sales partner growth is generally measured by Consumption, which is highly correlated with Revenue, because SNOW primarily evaluates partners on Consumption. A few contacts use consulting revenue where Consumption data are unavailable. U.S. Partner A Consumption Performance 1Q25 growth accelerated and exceeded expectations 2Q25 growth accelerated and significantly exceeded expectations 3Q25 growth slowed and fell short of expectations 4Q25 growth accelerated and exceeded expectations 1Q26 growth was flat versus 4Q25 2Q26 exceeded expectations U.S. Partner B Consumption Progress 1Q25 accelerated versus 4Q24 and exceeded expectations by 15-20% 2Q25 accelerated versus 1Q25 and exceeded expectation…", "handle": "FundaAI", "item_id": "5f2387e3727704780422b9da", "key_points": [ "Sales Execution Sales partner growth is generally measured by Consumption, which is highly correlated with Revenue, because SNOW primarily evaluates partners on Consumption.", "A few contacts use consulting revenue where Consumption data are unavailable." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-01 15:05:15", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "CoCo is still very strong", "tickers": [], "tier": "Tier 2", "title": "Preview|SNOW 2Q26: Cortex Code Continues to Drive Strong Growth", "topics": [], "url": "https://fundaai.substack.com/p/previewsnow-2q26-cortex-code-continues" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-01 19:02:52 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Core conclusion Optics are moving inside the tray, and the memory tier it targets is the largest bandwidth tier in the system, roughly ten times the scale-up bandwidth per GPU and about one hundred times the scale-out. The capital is already moving, with $2 billion each from NVIDIA into Lumentum and Coherent, $3.25 billion from Marvell for Celestial AI, and a revenue ceiling of up to $120 billion on the Google and Marvell warrant. Scale-in, in this note, means die-to-die and chip-to-memory optical links at millimeters to about a meter, which Lumentum’s CEO on August 27 called “the thing to watch over the next 12 to 18 months”. The word is spreading with split meanings since NVIDIA uses it for something else, a…", "handle": "FundaAI", "item_id": "8a223e714d4be94ffb600cae", "key_points": [ "Core conclusion Optics are moving inside the tray, and the memory tier it targets is the largest bandwidth tier in the system, roughly ten times the scale-up bandwidth per GPU and about one hundred times the scale-out.", "The capital is already moving, with $2 billion each from NVIDIA into Lumentum and Coherent, $3.25 billion from Marvell for Celestial AI, and a revenue ceiling of up to $120 billion on the Google and Marvell warrant." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-09-01 12:37:34", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Optics are moving inside the tray as scale-in links target memory-class bandwidth, roughly 10x scale-up per GPU and about 100x scale-out", "tickers": [], "tier": "Tier 2", "title": "Deep|Optics: Scale-In Moves Optics Inside the Tray, and the Bandwidth Opportunity Could 10x Scale-Up", "topics": [ "存储/HBM", "光互连" ], "url": "https://fundaai.substack.com/p/deepoptics-scale-in-moves-optics" }, { "access_level": "public_rss", "author": "Claus Aasholm", "collected_at": "2026-09-01 19:03:14 UTC", "content_status": "public_summary", "coverage": "legacy_public_source", "excerpt": "At the beginning of the millennium, something strange began to happen to me. It began gradually like simmering popcorn. A pop. What was that? Then another. Within a short while, it was impossible to identify the individual pops. It was all white noise. Up until then, I had mainly used my brain to solve practical, everyday problems at work and at home. I had been thinking without thinking about why and how I was thinking. If you are living a happy and fulfilled life, please do not think about how you are thinking. Meta thoughts will not lead you to a happier place. But what does it mean to be happy anyway? The Danish philosopher Soren Kierkegaard, who lived in the shadow of Hans Christian Andersen, once said: “…", "handle": "clausaasholm", "item_id": "3326e042a85b19ae420ea4c2", "key_points": [ "At the beginning of the millennium, something strange began to happen to me.", "It began gradually like simmering popcorn." ], "publication_url": "https://clausaasholm.substack.com", "published_at": "2026-09-01 11:33:54", "source_id": "semiconductor-business-intelligence", "source_name": "Semiconductor Business Intelligence", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "New Enemies Emerge as AI War Moves Up The Stack", "tickers": [], "tier": "公共遗留源", "title": "The 8 Dimensions of Nvidia’s Strategy", "topics": [ "AI/算力" ], "url": "https://clausaasholm.substack.com/p/the-8-dimensions-of-nvidias-strategy" }, { "access_level": "public_rss", "author": "Jimmy狐狸", "collected_at": "2026-09-01 19:03:04 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "作者认真输出，全靠朋友们的支持。有用的话，请点赞、关注、转发 过去一个月，Tesla 的投资逻辑发生了一些实质变化。 Q2 交付量和汽车收入重新增长，FSD 用户规模继续扩大，Robotaxi 已经从 Austin 的单点试验扩展到多个城市，Cybercab 也开始生产。与此同时，Tesla 的 Fremont 工厂页面已经把 Optimus 列入生产项目，坊间传闻称首批产品进入早期生产，并且效果惊艳。 股价也从一年里的低点 ~$300，快速上涨 20%+，现在 $367.95. 这些进展让一个问题变得更紧迫：如果等到 Robotaxi 和 Optimus 都完成商业化，再买 TSLA 是否已经太晚？ 我的答案是： 现在可以开始建立 TSLA 的 starter position，但还不到建立 core position 的时候。 理由并不是 TSLA 便宜。以 $367.95 计算，公司市值约 $1.45T，约为 TTM 营收的 14 倍；按 2026 年 non-GAAP EPS 预期计算，估值仍接近 200 倍。这个价格已经包含了相当高的 AI、Robotaxi 和 robotics 溢价。 但 Tesla 也不再停留在概念和演示阶段。Robotaxi 已经产生真实付费里程，Cybercab 已经进入生产，Optimus 可能已经跨过 production start 这一关。成功概率开始上升，而股价往往会在收入和利润出现之前，先对概率变化作出反应。 所以现在最合理的操作，不是等待一切确定，也不是因为害怕错过而一次性重仓，而是用小仓位换取参与权，再用后续证据决定是否加仓。 电车业务回暖 我对 TSLA 的核心…", "handle": "jimmyhuli", "item_id": "6bf887b40d4c3996f4f7035c", "key_points": [ "作者认真输出，全靠朋友们的支持。有用的话，请点赞、关注、转发 过去一个月，Tesla 的投资逻辑发生了一些实质变化。", "Q2 交付量和汽车收入重新增长，FSD 用户规模继续扩大，Robotaxi 已经从 Austin 的单点试验扩展到多个城市，Cybercab 也开始生产。与此同时，Tesla 的 Fremont 工厂页面已经把 Optimus 列入生产项目，坊间传闻称首批产品进入早期生产，并且效果惊艳。" ], "publication_url": "https://www.jimmyhuli.com", "published_at": "2026-09-01 11:20:45", "source_id": "jimmy-huli", "source_name": "Jimmy狐狸", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "可以买，但只能先买一小部分", "tickers": [], "tier": "Tier 3", "title": "现在是时候建仓 TSLA 了吗？", "topics": [], "url": "https://www.jimmyhuli.com/p/tsla" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Cover: the ARR gap, drawn to scale — pink is the marketing number, teal is what auditors saw Z.ai (02513. HK) told investors on Monday night that its ARR reached USD 1.6 billion in August and guided USD 2.4 billion by year-end. In the same fifty-minute call, it admitted that the roughly USD 535 million of ARR it held on June 30 translated into about USD 140 million of recognized first-half revenue — a 4:1 gap, by management’s own arithmetic. Three days earlier, MiniMax (00100. HK) printed H1 revenue of USD 116.6 million against an August ARR headline of USD 800 million-plus. Put the two filings together: USD 2.4 billion of combined ARR sits on top of roughly USD 257 million of combined booked H1 revenue. That…", "handle": "globalsemiresearch", "item_id": "f8b0ba19b4c28e22751c5d66", "key_points": [ "Cover: the ARR gap, drawn to scale — pink is the marketing number, teal is what auditors saw Z.ai (02513.", "HK) told investors on Monday night that its ARR reached USD 1.6 billion in August and guided USD 2.4 billion by year-end." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-01 08:46:17", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI US–China AI Weekly · Week of August 31, 2026 · Earnings Double Issue", "tickers": [], "tier": "指定关注", "title": "The 9.4x Mirage: China's AI Labs Are Selling Annualized Orders, Not Revenue", "topics": [ "AI/算力" ], "url": "https://gtoai.substack.com/p/the-94x-mirage-chinas-ai-labs-are" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-01 08:46:21 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Cover: the ARR gap, drawn to scale — pink is the marketing number, teal is what auditors saw Z.ai (02513. HK) told investors on Monday night that its ARR reached USD 1.6 billion in August and guided USD 2.4 billion by year-end. In the same fifty-minute call, it admitted that the roughly USD 535 million of ARR it held on June 30 translated into about USD 140 million of recognized first-half revenue — a 4:1 gap, by management’s own arithmetic. Three days earlier, MiniMax (00100. HK) printed H1 revenue of USD 116.6 million against an August ARR headline of USD 800 million-plus. Put the two filings together: USD 2.4 billion of combined ARR sits on top of roughly USD 257 million of combined booked H1 revenue. That…", "handle": "globalsemiresearch", "item_id": "63f15068c2279076970ab24a", "key_points": [ "Cover: the ARR gap, drawn to scale — pink is the marketing number, teal is what auditors saw Z.ai (02513.", "HK) told investors on Monday night that its ARR reached USD 1.6 billion in August and guided USD 2.4 billion by year-end." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-01 08:46:17", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI US–China AI Weekly · Week of August 31, 2026 · Earnings Double Issue", "tickers": [], "tier": "指定关注", "title": "The 9.4x Mirage: China's AI Labs Are Selling Annualized Orders, Not Revenue", "topics": [ "AI/算力" ], "url": "https://globalsemiresearch.substack.com/p/the-94x-mirage-chinas-ai-labs-are" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-01 08:46:21 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "The market spent the week trading NVIDIA’s print first, then putting rates and crowding back into the price. The numbers are still fast: $96.2 billion of revenue, $89.0 billion from data center, and $108 billion of Q3 guidance that assumes no China data-center compute. What resets the supply-chain clock is Vera Rubin entering full production, Spectrum-6 shipping both pluggable and co-packaged optics, and racks already showing up at CoreWeave, Google Cloud, Azure, Oracle and Nebius. Super-nodes, optical interconnect and AI PCBs therefore move from concept validation into delivery validation. Inside, the weekly walks the chain section by section: markets first, then optical communications from fiber demand to NP…", "handle": "globalsemiresearch", "item_id": "b3b0fb65e36fe243bc295ee7", "key_points": [ "The market spent the week trading NVIDIA’s print first, then putting rates and crowding back into the price.", "The numbers are still fast: $96.2 billion of revenue, $89.0 billion from data center, and $108 billion of Q3 guidance that assumes no China data-center compute." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-01 08:37:46", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "AI Supply-Chain Weekly · 24–30 August 2026", "tickers": [], "tier": "指定关注", "title": "AI Supply-Chain Weekly--Rubin Is in Full Production: The Bottleneck Moved from GPUs to Racks, Optics and Boards", "topics": [ "AI/算力", "光互连", "中国科技产业链" ], "url": "https://globalsemiresearch.substack.com/p/ai-supply-chain-weekly-rubin-is-in" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "The market spent the week trading NVIDIA’s print first, then putting rates and crowding back into the price. The numbers are still fast: $96.2 billion of revenue, $89.0 billion from data center, and $108 billion of Q3 guidance that assumes no China data-center compute. What resets the supply-chain clock is Vera Rubin entering full production, Spectrum-6 shipping both pluggable and co-packaged optics, and racks already showing up at CoreWeave, Google Cloud, Azure, Oracle and Nebius. Super-nodes, optical interconnect and AI PCBs therefore move from concept validation into delivery validation. Inside, the weekly walks the chain section by section: markets first, then optical communications from fiber demand to NP…", "handle": "globalsemiresearch", "item_id": "a318710ca07b18628d2a08dd", "key_points": [ "The market spent the week trading NVIDIA’s print first, then putting rates and crowding back into the price.", "The numbers are still fast: $96.2 billion of revenue, $89.0 billion from data center, and $108 billion of Q3 guidance that assumes no China data-center compute." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-09-01 08:37:46", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "AI Supply-Chain Weekly · 24–30 August 2026", "tickers": [], "tier": "指定关注", "title": "AI Supply-Chain Weekly--Rubin Is in Full Production: The Bottleneck Moved from GPUs to Racks, Optics and Boards", "topics": [ "AI/算力", "光互连", "中国科技产业链" ], "url": "https://gtoai.substack.com/p/ai-supply-chain-weekly-rubin-is-in" }, { "access_level": "public_rss", "author": "Jimmy狐狸", "collected_at": "2026-08-31 12:01:46 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "作者努力更新，全靠朋友们的支持。如果有用的话，请点赞、分析、订阅 有兴趣的朋友，可以加 wx 进群交流 我记得第一次听说 CRISPR 技术，是 2018 年一则大新闻：中国学者贺建奎，通过 CRISPR 基因编辑技术，改造了两位婴儿的基因，是她们可以天然抵御艾滋病。 贺建奎随后被送进去三年。但 CRISPR 技术从此可以认为不再只是一项实验室技术。 2023 年，Casgevy 成为美国第一款获批的 CRISPR 基因编辑疗法；2026 年，它的适用年龄又从 12 岁以上扩大到 2 岁以上。与此同时，NTLA 的体内基因编辑疗法首次取得 3 期临床阳性结果，BEAM 开始把更精确的碱基编辑推入注册性临床，CRSP 则在人体内持续降低血脂相关蛋白。 整个行业正在经历一次重要转变：过去的问题是 “人类能不能安全地编辑基因”，现在问的已经是“哪种编辑方式更适合成为药物、疗效能否长期维持、生产和交付能否规模化，以及临床试验的进展”。 这也是本文比较 BEAM、CRSP、NTLA 和 EDIT 的核心。它们经常被放在同一组 CRISPR 股票里，但几家公司有自己的路径： BEAM 押注更精确的碱基编辑； CRSP 已经拥有获批产品，正在把平台扩展至体内编辑和细胞疗法； NTLA 拥有最接近下一次商业化的体内 CRISPR 项目，但安全性和商业化难度也最高； EDIT 在战略重组后，已经成为一项围绕 EDIT-401 的早期临床选择权。 说实话这几家都不错，选哪个都可以认为是对 CRISPR 赛道的合理押注，我个人的选择在文章后半段。 一、CRISPR 到底是什么？ 从细菌的防御系统，到可以编程的基因剪刀 CRISPR 最初…", "handle": "jimmyhuli", "item_id": "ee13008a09e9ef5b624d0cbe", "key_points": [ "作者努力更新，全靠朋友们的支持。如果有用的话，请点赞、分析、订阅 有兴趣的朋友，可以加 wx 进群交流 我记得第一次听说 CRISPR 技术，是 2018 年一则大新闻：中国学者贺建奎，通过 CRISPR 基因编辑技术，改造了两位婴儿的基因，是她们可以天然抵御艾滋病。", "贺建奎随后被送进去三年。但 CRISPR 技术从此可以认为不再只是一项实验室技术。" ], "publication_url": "https://www.jimmyhuli.com", "published_at": "2026-08-31 11:49:10", "source_id": "jimmy-huli", "source_name": "Jimmy狐狸", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "BioTech Part 3", "tickers": [], "tier": "Tier 3", "title": "CRISPR 从概念走向药物，BEAM、CRSP、NTLA、EDIT 谁更值得投资？", "topics": [], "url": "https://www.jimmyhuli.com/p/crispr-beamcrspntlaedit" }, { "access_level": "public_rss", "author": "Asymmetrical Bets", "collected_at": "2026-08-31 11:31:47 UTC", "content_status": "public_summary", "coverage": "matched_publication", "excerpt": "Hey everyone, One goal of ours for the rest of the year is to bring you guys more visibility and transparency into our funds/performance to help you get maximal value out of our subscription and stay convicted in core trades as we face increased volatility. As many of you know, one of the most interesting parts about our publication is that we have over $55M AUM on Autopilot , an app where thousands of retail investors follow our thematic portfolios trade by trade, without needing to self-manage strategies. For paid subs we share all these updates and daily performance in the VIP discord , as those who do not live in the United States or don’t have a compatible broker can not follow our funds on the Autopilot…", "handle": "UncleAlpha007", "item_id": "787123fd0b8b255864c844c9", "key_points": [ "Hey everyone, One goal of ours for the rest of the year is to bring you guys more visibility and transparency into our funds/performance to help you get maximal value out of our subscription and stay convicted in core t…", "As many of you know, one of the most interesting parts about our publication is that we have over $55M AUM on Autopilot , an app where thousands of retail investors follow our thematic portfolios trade by trade, without…" ], "publication_url": "https://asymmetricalbets.substack.com", "published_at": "2026-08-31 11:24:44", "source_id": "asymmetrical-bets", "source_name": "Asymmetrical Bets", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Our strategies returned 18.4% this month after momentum bounced back from July. Here’s what delivered and how were thinking about the market.", "tickers": [], "tier": "Tier 2", "title": "$55M Portfolio + Positions Update: +18.4% In August", "topics": [], "url": "https://asymmetricalbets.substack.com/p/55m-portfolio-update-184-in-august" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-08-31 02:31:21 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "In our software previews this quarter (e.g., CRM, NOW), one meaningful change we noticed was a shift in enterprise customers’ tone. To recap, over the past few quarters, when asked about the impact of LLMs on incumbent SaaS systems, only channel partners defended the value of the system of record (SoR), while customers were hesitant. In 1H26, enterprises were busy tokenmaxxing and evaluating what they could build with coding agents, delaying SaaS budget plans. Entering 3Q, we saw a noticeable shift in attitude, with customers turning to AI token budgeting and realizing LLMs can’t replace their SoRs entirely. A…", "handle": "FundaAI", "item_id": "571cbcb1c41361b22bb0060e", "key_points": [ "In our software previews this quarter (e.g., CRM, NOW), one meaningful change we noticed was a shift in enterprise customers’ tone.", "To recap, over the past few quarters, when asked about the impact of LLMs on incumbent SaaS systems, only channel partners defended the value of the system of record (SoR), while customers were hesitant." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-08-31 02:03:10", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "The biggest shift in tech this week is the divergence between software and semi/hardware performance.", "tickers": [], "tier": "Tier 2", "title": "Weekly|Enterprise SoR Rerating Make Sense, AIDC Demand at 2x Deliverable Supply, MRVL Optics Carries the Raise, MDB & PANW", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/weeklyenterprise-sor-rerating-make" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-08-30 21:01:30 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "1. NVHBM Is Not a New HBM. It Is a Shift in Who Owns the Design NVIDIA disclosed NVHBM on August 26, 2026. It said it would put a custom memory controller into the HBM base die and let multiple memory providers supply the same NVHBM specification. Versus standard HBM4E it cited up to 30% higher stack bandwidth, up to 15% lower HBM power and up to 25% more XPU compute die area. source: https://developer.nvidia.com/blog/nvidia-nvlink-fusion-brings-nvhbm-to-next-generation-ai-infrastructure/ People outside the semiconductor industry sometimes read the name and assume NVHBM is a new form of HBM. It is not. The industry calls the HBM we normally refer to standard HBM, or sHBM, and calls the products whose base die…", "handle": "damnang2", "item_id": "f95cade71e5f8af4ab5b7dc8", "key_points": [ "NVHBM Is Not a New HBM.", "It Is a Shift in Who Owns the Design NVIDIA disclosed NVHBM on August 26, 2026." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-08-30 20:45:15", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "cHBM has started to create new design value for memory vendors. NVHBM is the structure through which NVIDIA pulls part of that value into a common architecture.", "tickers": [], "tier": "Tier 3", "title": "What NVHBM Means: The Contest for Power Over HBM Begins", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://damnang2.substack.com/p/what-nvhbm-means-the-contest-for" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-08-31 03:01:33 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "1. NVHBM Is Not a New HBM. It Is a Shift in Who Owns the Design NVIDIA disclosed NVHBM on August 26, 2026. It said it would put a custom memory controller into the HBM base die and let multiple memory providers supply the same NVHBM specification. Versus standard HBM4E it cited up to 30% higher stack bandwidth, up to 15% lower HBM power and up to 25% more XPU compute die area. source: https://developer.nvidia.com/blog/nvidia-nvlink-fusion-brings-nvhbm-to-next-generation-ai-infrastructure/ People outside the semiconductor industry sometimes read the name and assume NVHBM is a new form of HBM. It is not. The industry calls the HBM we normally refer to standard HBM, or sHBM, and calls the products whose base die…", "handle": "damnang2", "item_id": "17275daa3f74694c6ff46c87", "key_points": [ "NVHBM Is Not a New HBM.", "It Is a Shift in Who Owns the Design NVIDIA disclosed NVHBM on August 26, 2026." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-08-30 20:45:15", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "cHBM has started to create new design value for memory vendors. NVHBM is the structure through which NVIDIA pulls part of that value into a common architecture.", "tickers": [], "tier": "Tier 3", "title": "What NVHBM Means: The Contest for Power Over HBM Begins", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://www.damnang.com/p/what-nvhbm-means-the-contest-for" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-08-31 09:01:30 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Over the past few months, enterprise adoption of AI has become one of the market’s central debates. From the coding-agent surge early this year to the tokenmaxxing discussion in May-June to the more recent open-source shock, whether—and when—enterprise AI can take the baton from coding and become the next growth engine for model vendors’ ARR is now one … Read more", "handle": "FundaAI", "item_id": "e7053d38afbb83bdd6bedd67", "key_points": [ "Over the past few months, enterprise adoption of AI has become one of the market’s central debates.", "From the coding-agent surge early this year to the tokenmaxxing discussion in May-June to the more recent open-source shock, whether—and when—enterprise AI can take the baton from coding and become the next growth engin…" ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-08-28 12:55:36", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Full takeaways of the 1st volume of our survey", "tickers": [], "tier": "Tier 2", "title": "Deep|LLM: Enterprise AI Application Research (Vol.1) - Spend is Still Growing; Growth Is Shifting from Seats to APIs and Production Workflows", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/deepllm-enterprise-ai-application" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-08-29 08:17:08 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "On August 27, 2026, Anthropic released MHS (Model Hardware Standard) as a research preview — a shared specification for letting AI agents safely operate physical equipment, promising to compress lab and factory hardware integration from weeks-to-months down to hours-to-minutes (Anthropic official announcement, 2026-08-27). The launch lands on top of a steepening curve: annualized revenue climbed from roughly USD 9.0 billion in December 2025 to USD 65.0 billion by late July 2026 — 7.2x in seven months , a compound monthly growth rate (CMGR) of approximately 33% (Reuters/CNBC/Bloomberg, compiled by FutureSearch). This is not a product launch; it is a position statement, and the question it has to answer is wheth…", "handle": "globalsemiresearch", "item_id": "b89fdb905b4cf7a6575d3340", "key_points": [ "On August 27, 2026, Anthropic released MHS (Model Hardware Standard) as a research preview — a shared specification for letting AI agents safely operate physical equipment, promising to compress lab and factory hardware…", "The launch lands on top of a steepening curve: annualized revenue climbed from roughly USD 9.0 billion in December 2025 to USD 65.0 billion by late July 2026 — 7.2x in seven months , a compound monthly growth rate (CMGR…" ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-08-28 12:44:02", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI Review", "tickers": [], "tier": "指定关注", "title": "Anthropic Just Crossed Into the Physical World — With a Protocol, Not a Robot", "topics": [ "AI/算力" ], "url": "https://globalsemiresearch.substack.com/p/anthropic-just-crossed-into-the-physical" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "On August 27, 2026, Anthropic released MHS (Model Hardware Standard) as a research preview — a shared specification for letting AI agents safely operate physical equipment, promising to compress lab and factory hardware integration from weeks-to-months down to hours-to-minutes (Anthropic official announcement, 2026-08-27). The launch lands on top of a steepening curve: annualized revenue climbed from roughly USD 9.0 billion in December 2025 to USD 65.0 billion by late July 2026 — 7.2x in seven months , a compound monthly growth rate (CMGR) of approximately 33% (Reuters/CNBC/Bloomberg, compiled by FutureSearch). This is not a product launch; it is a position statement, and the question it has to answer is wheth…", "handle": "globalsemiresearch", "item_id": "9a5b0a3eb1fe7462371f1780", "key_points": [ "On August 27, 2026, Anthropic released MHS (Model Hardware Standard) as a research preview — a shared specification for letting AI agents safely operate physical equipment, promising to compress lab and factory hardware…", "The launch lands on top of a steepening curve: annualized revenue climbed from roughly USD 9.0 billion in December 2025 to USD 65.0 billion by late July 2026 — 7.2x in seven months , a compound monthly growth rate (CMGR…" ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-08-28 12:44:02", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "G2AI Review", "tickers": [], "tier": "指定关注", "title": "Anthropic Just Crossed Into the Physical World — With a Protocol, Not a Robot", "topics": [ "AI/算力" ], "url": "https://gtoai.substack.com/p/anthropic-just-crossed-into-the-physical" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-08-31 03:01:33 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Disclaimer This material is general research opinion based on public information and is not investment advice tailored to any individual. Future contracts, capacity targets, ARR and secured power are conditional figures, and actual outcomes may differ depending on financing, permitting, utility schedules, supply chains, customer acceptance and demand. A neocloud, put simply, is a company that rents out GPUs for AI. AI companies need large scale compute to build models, but securing the latest GPUs and building data centers takes enormous capital and time. Neoclouds build the power, the data center, the NVIDIA GPUs, the high speed network and the operating software first, then rent that stack to customers. Inst…", "handle": "damnang2", "item_id": "dc95823180a62d723db14b34", "key_points": [ "Disclaimer This material is general research opinion based on public information and is not investment advice tailored to any individual.", "Future contracts, capacity targets, ARR and secured power are conditional figures, and actual outcomes may differ depending on financing, permitting, utility schedules, supply chains, customer acceptance and demand." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-08-28 08:53:37", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "From how an AI GPU data center actually works to the technology, economics and investment approach for each of the three companies.", "tickers": [], "tier": "Tier 3", "title": "CoreWeave, Nebius, IREN: Same Neocloud Label, Three Different Investment Cases", "topics": [ "AI/算力" ], "url": "https://www.damnang.com/p/coreweave-nebius-iren-same-neocloud" }, { "access_level": "public_rss", "author": "Damnang", "collected_at": "2026-08-29 08:17:18 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Disclaimer This material is general research opinion based on public information and is not investment advice tailored to any individual. Future contracts, capacity targets, ARR and secured power are conditional figures, and actual outcomes may differ depending on financing, permitting, utility schedules, supply chains, customer acceptance and demand. A neocloud, put simply, is a company that rents out GPUs for AI. AI companies need large scale compute to build models, but securing the latest GPUs and building data centers takes enormous capital and time. Neoclouds build the power, the data center, the NVIDIA GPUs, the high speed network and the operating software first, then rent that stack to customers. Inst…", "handle": "damnang2", "item_id": "a0b4f9abe53dfd6bbbcd9297", "key_points": [ "Disclaimer This material is general research opinion based on public information and is not investment advice tailored to any individual.", "Future contracts, capacity targets, ARR and secured power are conditional figures, and actual outcomes may differ depending on financing, permitting, utility schedules, supply chains, customer acceptance and demand." ], "publication_url": "https://damnang2.substack.com", "published_at": "2026-08-28 08:53:37", "source_id": "damnang", "source_name": "Damnang", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "From how an AI GPU data center actually works to the technology, economics and investment approach for each of the three companies.", "tickers": [], "tier": "Tier 3", "title": "CoreWeave, Nebius, IREN: Same Neocloud Label, Three Different Investment Cases", "topics": [ "AI/算力" ], "url": "https://damnang2.substack.com/p/coreweave-nebius-iren-same-neocloud" }, { "access_level": "public_rss", "author": "Nutty", "collected_at": "2026-08-29 08:17:26 UTC", "content_status": "public_summary", "coverage": "adjacent_public", "excerpt": "This is an analysis of industry and technology structure, not investment advice. The author may hold positions in securities mentioned. This post has bonus content for paid subscribers. Upgrade to get full access. This has been a noisy week, courtesy of Hot Chips. Vera Rubin, LPX, Jalapeño, zHBM… familiar names and unfamiliar acronyms poured out all at once across X, Substack, and the trade press. The GPU era is ending and the inference era is here, the rack is what matters now, memory is splitting into tiers. It feels like a change too big to keep up with, and yet the substance stays vague, hard to get your hands around. It seems like one good study session would clear it all up, if only you knew where to sta…", "handle": "nuttycld", "item_id": "bf0593d8c206c27847bd162f", "key_points": [ "This is an analysis of industry and technology structure, not investment advice.", "The author may hold positions in securities mentioned." ], "publication_url": "https://nuttycld.substack.com", "published_at": "2026-08-27 20:12:15", "source_id": "nutty", "source_name": "Nutty", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "How Heterogeneous Computing Is Redrawing the Architecture of AI Inference", "tickers": [], "tier": "相邻公开源", "title": "An Investor's Handbook IV - AI Inference (1)", "topics": [ "AI/算力", "存储/HBM" ], "url": "https://nuttycld.substack.com/p/an-investors-handbook-iv-ai-inference" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-08-29 08:17:08 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Readers familiar with the AI supply chain should know that this is not the first time PTFE has been hyped. In this article, we will review how the market came to hype the PTFE concept. Starting in June To my recollection, the first mention of PTFE this year came from a PTFE analysis published by Jeff Pu, a well-known analyst at GFHK. I have great respect for Jeff Pu and believe his reports are very well written, but I am not entirely convinced by the information in this particular PTFE analysis. He believed that the midplane in Kyber racks, which is essentially what people refer to as an orthogonal backplane, might us…", "handle": "globalsemiresearch", "item_id": "949bd5d07a092363bdfa65ad", "key_points": [ "Readers familiar with the AI supply chain should know that this is not the first time PTFE has been hyped.", "In this article, we will review how the market came to hype the PTFE concept." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-08-27 16:40:32", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Recently, PTFE has once again become one of the most discussed topics in the AI supply chain.", "tickers": [], "tier": "指定关注", "title": "How Was PTFE-Hyped, and What Is the Industry Really Like?", "topics": [ "AI/算力" ], "url": "https://globalsemiresearch.substack.com/p/how-was-ptfe-hyped-and-what-is-the" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Readers familiar with the AI supply chain should know that this is not the first time PTFE has been hyped. In this article, we will review how the market came to hype the PTFE concept. Starting in June To my recollection, the first mention of PTFE this year came from a PTFE analysis published by Jeff Pu, a well-known analyst at GFHK. I have great respect for Jeff Pu and believe his reports are very well written, but I am not entirely convinced by the information in this particular PTFE analysis. He believed that the midplane in Kyber racks, which is essentially what people refer to as an orthogonal backplane, might us…", "handle": "globalsemiresearch", "item_id": "236918d2f7d9767c658097be", "key_points": [ "Readers familiar with the AI supply chain should know that this is not the first time PTFE has been hyped.", "In this article, we will review how the market came to hype the PTFE concept." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-08-27 16:40:32", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Recently, PTFE has once again become one of the most discussed topics in the AI supply chain.", "tickers": [], "tier": "指定关注", "title": "How Was PTFE-Hyped, and What Is the Industry Really Like?", "topics": [ "AI/算力" ], "url": "https://gtoai.substack.com/p/how-was-ptfe-hyped-and-what-is-the" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-08-29 08:17:08 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Nvidia’s quarterly revenue rose from $46.7 billion to $96.2 billion in twelve months — a 106% increase that cleared all three expectation layers at once: the company’s own $91.0 billion guidance midpoint, the $92.2 billion Street consensus, and the $95.0 billion bull-case number that the most optimistic desk on the Street had published going into the print. I have covered every Nvidia report since the Hopper cycle began, and I cannot recall a quarter in which the whisper number itself was beaten. That is the lede. The more interesting story — the one this review will spend most of its length on — is that the income statement is no longer where the risk lives. Exhibit 1 — Q2 FY27 revenue of $96.2B cleared guida…", "handle": "globalsemiresearch", "item_id": "aad0c6fd9652c2ffa8763d8a", "key_points": [ "Nvidia’s quarterly revenue rose from $46.7 billion to $96.2 billion in twelve months — a 106% increase that cleared all three expectation layers at once: the company’s own $91.0 billion guidance midpoint, the $92.2 bill…", "I have covered every Nvidia report since the Hopper cycle began, and I cannot recall a quarter in which the whisper number itself was beaten." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-08-27 14:12:13", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Nvidia's flawless $96.2B quarter beat all expectations; the real risk lives off-balance-sheet — $108.5B guarantees, becoming AI's lender of last resort.", "tickers": [], "tier": "指定关注", "title": "Nvidia's $96.2 Billion Quarter Is Flawless, Except the Balance Sheet", "topics": [], "url": "https://globalsemiresearch.substack.com/p/nvidias-962-billion-quarter-is-flawless" }, { "access_level": "public_rss", "author": "G2AI", "collected_at": "2026-09-04 13:49:07 UTC", "content_status": "public_summary", "coverage": "user_selected", "excerpt": "Nvidia’s quarterly revenue rose from $46.7 billion to $96.2 billion in twelve months — a 106% increase that cleared all three expectation layers at once: the company’s own $91.0 billion guidance midpoint, the $92.2 billion Street consensus, and the $95.0 billion bull-case number that the most optimistic desk on the Street had published going into the print. I have covered every Nvidia report since the Hopper cycle began, and I cannot recall a quarter in which the whisper number itself was beaten. That is the lede. The more interesting story — the one this review will spend most of its length on — is that the income statement is no longer where the risk lives. Exhibit 1 — Q2 FY27 revenue of $96.2B cleared guida…", "handle": "globalsemiresearch", "item_id": "78c5fcd8711b0a98747bb120", "key_points": [ "Nvidia’s quarterly revenue rose from $46.7 billion to $96.2 billion in twelve months — a 106% increase that cleared all three expectation layers at once: the company’s own $91.0 billion guidance midpoint, the $92.2 bill…", "I have covered every Nvidia report since the Hopper cycle began, and I cannot recall a quarter in which the whisper number itself was beaten." ], "publication_url": "https://globalsemiresearch.substack.com", "published_at": "2026-08-27 14:12:13", "source_id": "global-semi-research", "source_name": "Global Semi Research", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Nvidia's flawless $96.2B quarter beat all expectations; the real risk lives off-balance-sheet — $108.5B guarantees, becoming AI's lender of last resort.", "tickers": [], "tier": "指定关注", "title": "Nvidia's $96.2 Billion Quarter Is Flawless, Except the Balance Sheet", "topics": [], "url": "https://gtoai.substack.com/p/nvidias-962-billion-quarter-is-flawless" }, { "access_level": "public_rss", "author": "FUNDA / FundaAI", "collected_at": "2026-09-12 10:09:39 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "Executive Summary North American AI data center demand in 2027 runs to roughly 35GW on an IT basis, against 16.5-23.4GW that can actually be delivered. Where our two independent supply methods overlap, that gap is 1.8-2.1x, and it is the number this whole report is built around. Demand cross-checks two ways and lands in the same place. A CoWoS-capacity build gives 44-49GW of global chip-level power in 2027; a platform-by-platform BOM build gives 48.4GW. The market debates 40-60GW. We assume roughly 50GW globally, with North America taking about two-thirds. Supply is already locked, and capital cannot move it. The grid path delivers 11-14GW IT, set entirely by who entered the interconnection queue before mid-20…", "handle": "FundaAI", "item_id": "4c20b8748c39b9ef8f0f19e3", "key_points": [ "Executive Summary North American AI data center demand in 2027 runs to roughly 35GW on an IT basis, against 16.5-23.4GW that can actually be delivered.", "Where our two independent supply methods overlap, that gap is 1.8-2.1x, and it is the number this whole report is built around." ], "publication_url": "https://fundaai.substack.com", "published_at": "2026-08-27 12:32:18", "source_id": "fundaai", "source_name": "FUNDA / FundaAI", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "North America’s 2027 AI demand could reach twice its deliverable data center capacity - why power access sets the pace, and what it means for xAI, CoreWeave, Nebius, and IREN.", "tickers": [], "tier": "Tier 2", "title": "Deep|AIDC: 2027 Demand Runs at Roughly 2x Deliverable Supply, and the Binding Constraint Is Power", "topics": [ "AI/算力" ], "url": "https://fundaai.substack.com/p/deepaidc-2027-demand-runs-at-roughly" }, { "access_level": "public_rss", "author": "Anders Storm", "collected_at": "2026-08-27 07:27:08 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "We’ve now seen Klarna and Smart Eye both fall brutally after reports that were quite good. This kind of drop used to only happen when a company announced a share issue with a 35% discount, or when a fraud was uncovered, or when a major customer walked away. Not when companies deliver double-digit organic growth, expanding margins, and/or reaffirmed guidance (Klarna did not, that was their issue) . This Substack is reader-supported. To receive new posts and support my work, consider becoming a free or paid subscriber. But apparently in 2026, if you have a challenging history of missed promises, you get hit hard even when you deliver good numbers. Even if you have not promised anything, SEYE had not guide any nu…", "handle": "StormDirac", "item_id": "401a7a0b5aa464039c94a45e", "key_points": [ "We’ve now seen Klarna and Smart Eye both fall brutally after reports that were quite good.", "This kind of drop used to only happen when a company announced a share issue with a 35% discount, or when a fraud was uncovered, or when a major customer walked away." ], "publication_url": "https://andersstorm.substack.com", "published_at": "2026-08-26 20:39:33", "source_id": "anders-storm", "source_name": "Anders Storm", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Is the market wrong, yes I think so. I increased my position today with 30% more shares.", "tickers": [ "$SEYE" ], "tier": "Tier 1", "title": "$SEYE 30% Down in one Day — The Brutal Market of 2026 - but IFRS in Q3 might transform H1 2026 to positive EBIT", "topics": [], "url": "https://andersstorm.substack.com/p/seye-30-down-in-one-day-the-brutal" }, { "access_level": "public_rss", "author": "Jason's Chips", "collected_at": "2026-08-27 07:27:09 UTC", "content_status": "public_summary", "coverage": "tracked", "excerpt": "There was some spicy news this morning about a spicy chip from a spicy frontier lab who will be the last presenter today at Hot Chips. Mamma mia follow me on on X: x.com/jasonschips subscribe for an extra 500Tbps memory bandwidth Contents Samsung LPDDR5X Processing in Memory XCENA MX1 CXL Computational Memory Device Thor Ultra: Ethernet NIC Chip NVIDIA BlueField-4 DPU NVIDIA Spectrum-X Multiplane Network Architecture Cerebras CS-4 SambaNova RDU Google TPU v8 OpenAI Jalapeno Samsung LPDDR5X Processing in Memory We have memory themed presentations again today. Samsung will not stop shilling processing in memory (PIM). Honestly very reasonable. They are really the only ones who can do this and benefit from it. PI…", "handle": "jasons_chips", "item_id": "c0cc3b8f8c0839530761ad79", "key_points": [ "There was some spicy news this morning about a spicy chip from a spicy frontier lab who will be the last presenter today at Hot Chips.", "Mamma mia follow me on on X: x.com/jasonschips subscribe for an extra 500Tbps memory bandwidth Contents Samsung LPDDR5X Processing in Memory XCENA MX1 CXL Computational Memory Device Thor Ultra: Ethernet NIC Chip NVIDIA…" ], "publication_url": "https://www.jasonschips.ai", "published_at": "2026-08-26 17:58:32", "source_id": "jasons-chips", "source_name": "Jason's Chips", "source_note": "仅来自公开 RSS/Atom 的标题、摘要或短摘录；未读取登录态、私有 Notes 或付费墙内容。", "summary": "Samsung LPDDR5X PIM, Broadcom Thor Ultra NIC, NVIDIA BlueField-4, NVIDIA Spectrum-X Multiplane, Cerebras Rack-Scale, Microsoft MAIA 200, Google TPU v8, OpenAI Jalapeno", "tickers": [], "tier": "Tier 2", "title": "Hot Chips Day 3 - Spicy (Jalapeno) Chips", "topics": [ "存储/HBM", "光互连" ], "url": "https://www.jasonschips.ai/p/hot-chips-day-3-spicy-jalapeno-chips" } ], "quality": { "explicit_tickers_only": true, "notes_private_content_read": false, "public_content_only": true, "trade_recommendation_generated": false }, "schema_version": "semiconductor-kol.v1", "source_policy": { "access_mode": "public_rss_only", "login_required_for_collection": false, "notes_mode": "public_profile_link_only", "paywall_bypass": false, "retention_days": 40 }, "sources": [ { "access_mode": "public_rss_only", "coverage": "user_selected", "display": "Global Semi Research", "enabled": true, "error": "", "evidence": "用户指定的 Substack 地址", "feed_url": "https://globalsemiresearch.substack.com/feed", "fetched_at": "2026-09-23 08:44:58 UTC", "focus": "存储、先进封装、光互连、AI 算力与中国半导体产业链", "handle": "globalsemiresearch", "http_status": 200, "item_count_in_feed": 20, "last_build_date": "Wed, 23 Sep 2026 08:14:59 GMT", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@globalsemiresearch/notes", "publication_description": "G2Al tracks the US-China(G2) Al stack", "publication_title": "G2AI", "publication_url": "https://globalsemiresearch.substack.com", "source_id": "global-semi-research", "status": "ok", "tier": "指定关注" }, { "access_mode": "public_rss_only", "coverage": "tracked", "display": "Anders Storm", "enabled": true, "error": "", "evidence": "knowledge/serenity-follows/INDEX.md · StormDirac", "feed_url": "https://andersstorm.substack.com/feed", "fetched_at": "2026-09-23 08:44:59 UTC", "focus": "Sivers、光互连、CPO 与 AI 超级周期", "handle": "StormDirac", "http_status": 200, "item_count_in_feed": 20, "last_build_date": "Wed, 23 Sep 2026 08:45:00 GMT", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@StormDirac/notes", "publication_description": "CEO in the tech industry 10 years as CEO, 8 years in a Nasdaq listed company. Ex CEO Sivers Semiconductors, Ex Sony Ericsson, ABB, HiQ Currently CEO at Dirac", "publication_title": "Anders Storm", "publication_url": "https://andersstorm.substack.com", "source_id": "anders-storm", "status": "ok", "tier": "Tier 1" }, { "access_mode": "public_rss_only", "coverage": "tracked", "display": "FUNDA / FundaAI", "enabled": true, "error": "", "evidence": "knowledge/serenity-follows/INDEX.md · FundaAI", "feed_url": "https://fundaai.substack.com/feed", "fetched_at": "2026-09-23 08:45:00 UTC", "focus": "AI 基础设施、软件与算力投资研究", "handle": "FundaAI", "http_status": 200, "item_count_in_feed": 20, "last_build_date": "Wed, 23 Sep 2026 08:45:00 GMT", "notes_mode": "public_profile_link_only", "notes_url": "https://substack.com/@FundaAI/notes", "publication_description": "FUNDA provides AI Invest OS, including AI Agents, equity research reports, and research data. 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