Not so long ago, making a satellite phone call from a remote corner of the planet was an ordeal. You had to lug around a brick-sized device, angle it precisely toward the sky, and pray for a faint signal. Even then, the connection was often scratchy, and the bills were exorbitant, turning a simple conversation…
Microsoft announced yesterday that it has been testing a new chip cooling technology based on microfluidics, which it says removes heat up to three times more effectively than today’s data center liquid cooling standard, cold plates that are placed on top of chips. The approach channels liquid coolant directly into the processor through microscopic, vein-like…
Yesterday, Nvidia announced a $5 billion investment in Intel, alongside a joint development agreement that will allow both companies to break into markets they previously couldn’t reach. In the PC segment, Nvidia dominates discrete GPUs for workstations and gaming, but laptops have always been out of reach. With roughly 150 million units sold annually, this…
Nebius, which rents out AI infrastructure, has announced a landmark $17.4 billion agreement with Microsoft over five years, potentially ramping to $19.4 billion. Under the deal, Nebius will deliver dedicated capacity to Microsoft from its new New Jersey data center. This represents a transformational win for Nebius, a significant position in both our AI and…
We have long argued that SpaceX is on track to disrupt the global telecom market. Yesterday, the company took a decisive step in that direction with the announced $17B acquisition of EchoStar’s 50 MHz S-band spectrum in the US along with its global spectrum licenses. SpaceX’s Starlink initially focused on providing broadband internet to underserved…
The software sector has remained a minefield for investors this year, in line with our scenario (see our June 2024 report). So far, only two clear winners of the AI revolution have emerged—Microsoft and Palantir, both core holdings in our portfolios—while many other software vendors face the risk of being disrupted by AI. That said,…
After the latest tariff twists and chips export restrictions to China, initial earnings in the AI space were widely expected. They didn’t disappoint, with both Taiwan Semi and Siemens Energy releasing strong quarterly figures and either maintaining or exceeding full-year expectations. Taiwan Semi, the leading maker of chips whose growth has been buoyed in recent…
It’s been a turbulent few weeks, with tariff uncertainty fueling broader concerns about the macroeconomic outlook and, specifically, about the AI spending environment. Even if semiconductors were initially expected to be spared from tariffs, the prospect of an economic downturn affecting the core businesses of major hyperscalers—such as declining advertising revenues at Google and Meta,…
At last week’s GTC conference, Nvidia provided a glimpse of its upcoming AI chips, including the Rubin Ultra GPU, set to launch in late 2026. This next-generation AI accelerator is expected to consume up to 1.8kW per unit and 600kW per rack, a significant jump from previous models. For comparison, the current GB200 draws 1.2kW…
In recent days, quantum computing has seen significant progress, with Microsoft and D-Wave announcing groundbreaking developments. As detailed in a previous report, a major hurdle in quantum computing has always been the decay of qubits, which leads to coherence loss and computational errors. Indeed, creating qubits involves producing particles that can be electronically controlled, which…