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Shares of  Advanced Micro Devices (AMD)  came under pressure as the chipmaker recorded the largest jump in short-selling activity among semiconductor stocks, even as optimism over its artificial intelligence prospects continues to drive strong gains this year. AMD Short Volume Climbs Short volume on AMD rose  5.7 million to 12.6 million shares  on Wednesday — the biggest increase in the semiconductor group, according to exchange data. The total represents  about 11.7%  of all shares traded that day. The surge came as  AMD shares rallied 9.4%  after more analysts boosted their price targets. HSBC’s Frank Lee  raised his target to  $310  from  $185 , citing massive AI revenue potential from its new  OpenAI partnership . Wedbush’s Matthew Bryson  lifted his target to  $270  from  $190 . Despite the rise in short trading, short interest — the total amount of borrowed shares yet to be covered —  fell to...

  Key Takeaways TSMC , the world’s leading chip foundry, will begin marketing its proprietary  trade secret registry system  to suppliers and partners in Europe and the US. The system, developed in 2013, is already adopted by  20 Taiwanese firms , including  ASE Technology Holding Co. It integrates with HR and IT platforms, using  AI analytics  to monitor projects, manage joint R&D, and identify key talent. TSMC currently has  over 610,000 trade secrets logged  into the system. The move aims to  strengthen supplier innovation culture  while reinforcing TSMC’s competitive advantage. Despite strong cybersecurity measures, TSMC recently faced a theft case, underscoring the risks tied to safeguarding proprietary technologies. Strategic Implications TSMC’s decision to commercialise its trade secret management platform reflects a broader push to safeguard intellectual property while fostering innovation. By encouraging suppliers and e...

All eyes turn to  Nvidia Corp (NVDA.US)  this week as the AI-chip leader reports  fiscal Q2 2026 earnings on Aug 27 after market close . With a $4 trillion market capitalization, Nvidia has become the bellwether of the AI trade, and its results could set the tone for both the semiconductor sector and broader equity markets. Core Financial Expectations Revenue (Guidance):  $45b (+50% YoY, +2% QoQ) Consensus:  $46.1b Gross Margin (GAAP):  71.8% (↓3.3pp YoY, ↑11.3pp QoQ) Gross Margin (Non-GAAP):  72% (↓3.7pp YoY, ↑0.7pp QoQ) Net Income (GAAP):  $22.6b (+36% YoY, +20% QoQ) Net Income (Non-GAAP):  $24b (+42% YoY, +21% QoQ) Consensus:  $24.5b Investor takeaway:  The bar is set high — even a small revenue or margin miss could spark volatility given Nvidia’s premium valuation. Key Watchpoints for Investors 1. China & the H20 Uncertainty Background:  Q1 results were marred by a $4.5b charge on H20 chips after the U.S. banned shipmen...

Futurum Group CEO Daniel Newman says the U.S. government’s decision to take a 10% stake in Intel marks a pivotal moment in Washington’s push to strengthen domestic chipmaking and reduce reliance on Taiwan Semiconductor Manufacturing Co. (TSMC). Speaking with Bloomberg’s Vonnie Quinn and Caroline Hyde on  The Close , Newman framed the move as both a market signal and a national security play. A U.S.-Backed Chip Champion Newman noted that while TSMC remains the industry’s gold standard, ongoing tensions between China and Taiwan make U.S. dependence on the Taiwanese chipmaker unsustainable. “The United States needs its own chip champion that can manufacture at the same level as TSMC,” he said. “Relying solely on Taiwan is not a great strategy going forward.” Intel, however, has struggled to regain credibility with major clients such as NVIDIA, Apple, and AMD. Newman argued that government backing could accelerate Intel’s foundry ambitions, even if that means taking “skin in the game” ...

Intel’s reported deal to receive CHIPS Act funding  in exchange for equity  may mark a major shift in how U.S. semiconductor subsidies are distributed—impacting shareholder value across the industry.  What’s Changing? The  White House is considering converting part of the CHIPS Act funding into equity stakes , starting with Intel. This would mean: No more “free cash”—funding would come with  ownership strings attached Potential  voting rights  and  governance conditions Long-term implications for  share dilution Why Investors Should Care This shift transforms CHIPS grants from  non-dilutive aid  to  low-cost but dilutive capital . Here’s what it means:   Balance Sheet Relief : Improves liquidity for chipmakers   Governance Risk : Brings in government involvement and restrictions   Valuation Impact : Likely to apply a “policy discount” on stocks Who's Most Exposed? The risk depends on how  CHIPS/DoD awards co...

Credit Watch Fitch Ratings  cut  Intel’s credit rating by one notch  from  BBB+ to BBB  on Monday, assigning a  negative outlook , as competitive pressure and execution risks cloud the chipmaker's recovery path. 🔻  Intel now sits just two notches above junk status. “Credit metrics remain weak… stronger markets and product execution are needed within 12–14 months,” — Fitch What’s Weighing on Intel? Demand Struggles : Soft PC and enterprise server markets Rising Competition : AMD & Qualcomm  (PC CPUs) Broadcom, NXP  (semiconductors) Execution Risks : Uncertainty in product ramp-up success Leverage Concerns : Need for  net debt reduction Despite these,  Fitch acknowledged Intel’s leadership  in traditional PCs and servers but flagged its  weaker financial structure  relative to similarly rated peers.  Liquidity Snapshot (as of Jun 28) Cash & Equivalents : US$21.2B Undrawn Credit Lines : US$7B revolver US$5B...

Intel (INTC.US) is in search of a new CEO to address challenges in both chip design and manufacturing. The successor to outgoing CEO Pat Gelsinger will face the daunting task of deciding whether to continue Gelsinger's vision of turning Intel into a U.S. chip manufacturing powerhouse, rivaling Taiwan Semiconductor Manufacturing Company ( TSMC ), while simultaneously halting market-share erosion. Current Leadership and Interim Arrangements Intel has appointed CFO David Zinsner and Michelle Johnston Holthaus , CEO of Intel Products, as interim leaders. However, industry insiders expect the board to look for external candidates to bring fresh perspectives. Potential Candidates Matt Murphy (CEO, Marvell Technology Group) Known for his leadership in custom chip development. Declined speculation during an earnings call, stating he is "100% focused on Marvell." Johny Srouji (SVP of Hardware Technologies, Apple) Played a key role in Apple's transition to in-house chip des...

Traders pulled out of Nasdaq-100 futures at the fastest rate this year , driven by a significant selloff in chipmakers after ASML Holding NV unexpectedly lowered its 2025 guidance . This led to a massive contraction in futures holdings. Open interest in Nasdaq-100 futures fell by $5.7 billion , the biggest drop in 2024, according to Bloomberg data. Despite volume reaching 524,000 contracts , slightly above the 20-day average, traders moved out of the broader technology sector in response to ASML’s announcement, triggering declines across semiconductor shares . Globally, chipmakers lost $420 billion in value , with the Philadelphia Semiconductor Index dropping 5.3% , the steepest fall since September. Major players like Nvidia Corp were caught in the wave of selloffs, as uncertainty around the chip market outlook extended beyond 2025.

  Cambricon Technologies Corp. , a leading Chinese AI chipmaker, surged to its 20% daily limit on Monday, spurred by news that Beijing is increasing pressure on domestic firms to replace Nvidia Corp. processors with local options. The stock rally was part of a broader trend among semiconductor companies, with Semiconductor Manufacturing International Corp. (SMIC) rising nearly 20% in Shanghai and Naura Technology Group Co. climbing 9% . Chinese regulators have advised companies against purchasing Nvidia’s H20 chips , which are crucial for developing and running AI models. This guidance aims to bolster domestic chipmakers while avoiding overt restrictions that could hinder local AI startups and escalate tensions with the US. The Chinese government is intent on helping local AI chipmakers like Cambricon and Huawei Technologies gain market share, especially in light of potential future restrictions from the US. Earlier this year, Beijing also encouraged local electric vehicle m...

Nvidia Corp clarified its position in response to a Bloomberg News report regarding an antitrust investigation by the US Department of Justice (DOJ), stating that it has not been formally subpoenaed. Key Points: No Formal Subpoena : Nvidia confirmed that while it is in contact with the DOJ, it has not received a subpoena. The DOJ commonly issues requests for information via a "civil investigative demand," which functions similarly to a subpoena. A request for information was sent to Nvidia concerning its acquisition of RunAI and its chip business. Nvidia's Stance : The company maintains that its market dominance in AI computing is due to the superiority of its products. Nvidia stated, "We have inquired with the DOJ and have not been subpoenaed. Nonetheless, we are happy to answer any questions regulators may have about our business." DOJ's Concerns and Ongoing Investigation : The investigation, led by the DOJ's San Francisco office, focuses on whether Nv...

Qualcomm projected higher-than-expected fourth-quarter revenue, driven by strong demand for high-end Android devices and AI-enhanced smartphones. However, the chipmaker warned of a revenue hit due to the US revoking an export license for Huawei, impacting shares. Key Points: Revenue Forecast: Qualcomm predicts fourth-quarter revenue with a midpoint of US$9.9 billion, surpassing Wall Street's estimate of US$9.71 billion. AI Enhancements: The integration of AI features in smartphones has boosted demand for Qualcomm's chips, aiding revenue recovery after a prolonged industry slump. Impact of Trade Curbs: The US revocation of an export license for Huawei will affect current quarter and first-quarter 2025 revenues. Qualcomm is negotiating with Huawei but does not expect chip revenue from the company beyond 2024. Stock Movement: Qualcomm shares initially rose over 5% in extended trading but later fell by more than 1% after the trade curbs warning. Arm Holdings also saw a 13% drop...