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· Post-Market Alpha · by Buzzberg Research
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Fed minutes
1 video · 2mBloomberg and CNBC both report that most Fed officials see another rate increase by year-end as likely appropriate.
Fed minutes show unanimous support for the September hike, with most officials expecting another by year-end
Inflation remained elevated with risks tilted upward while the labor market was near full employment; some officials noted AI-related demand for skilled workers contributed to wage gains without broad inflation pressure.
William Blair's Louie DiPalma estimates SpaceX AI capex near $50 billion this year and above $100 billion next year
DiPalma frames SpaceX as a major AI compute spender, largely tied to acquiring Nvidia hardware, and sees orbital data centers with a demonstration targeted by late 2027 and broader deployment in 2028.
Wells Fargo's Ohsung Kwon says AI demand must reach about $1.4 trillion by 2028 to justify current capex
Kwon says another major hyperscaler spending round would raise the required demand to about $2.2 trillion, and favors hyperscalers, software and AI applications over semis as capex growth decelerates.
Marvell's CEO points to consensus implying data center revenue above $30 billion by 2028
Management says sell-side consensus implies data-center revenue above $30B by 2028, roughly double an earlier $15B target, expects $12B+ of custom revenue by 2028 and sees $30B of custom revenue by 2030 with about 13% share.
Micron rallied on a Street-high price target as the S&P 500 ended a four-day winning streak
Fed minutes showed another rate increase may still be expected later in the year, while a strong 10-year auction offered some bond-market relief; industrials and materials lagged, with oil elevated.