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· Post-Market Alpha · by Buzzberg Research
Jukan argues Intel underestimated how quickly higher memory prices would hit PC demand, while Chamath notes big memory stocks are still roughly 22% to 65% below their highs as profits climb.
Themes on this desk
After-hours AI selloff
@svtrivo says AI stocks sold off hard after the close as Amazon missed on revenue and EPS and Alphabet's negative free cash flow and heavy AI capex continued to weigh.
AI suppliers' credit
@ces921 says pressure is landing on AI suppliers rather than spenders: IREN, Nebius, CoreWeave and Oracle fell 5% to 9% and the Galaxy Helios data center bond dropped more than a point, while Alphabet's 2046 bond was flat.
Ticker heat
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Top voices by smart followers and alpha score
Market Radar →Chamath: Micron's revenue jumped 256% to $133.2 billion, yet big memory stocks sit 22% to 65% below highs
Chamath says Micron's revenue rose from $37.4 billion in fiscal 2025 to $133.2 billion in fiscal 2026, and Samsung earned an estimated $80 billion of operating profit last quarter.
Memory chip profits are exploding, so why are stocks below their highs? In fiscal 2025, Micron’s revenue was $37.4 billion.
Chamath calls memory makers among the biggest beneficiaries of the superintelligence boom, while noting memory has historically been a commodity business where profits are hard to protect.
Watch Whether memory stocks recover toward their highs as profits keep climbing.
Source →Jukan says Intel underestimated how quickly higher memory prices would hit PC demand
Jukan says the risks were visible by the Q2 call, yet management still expected client revenue to hold roughly flat in Q3; Jukan highlights Lip-Bu's view that industry server CPU units will grow more than 30% in both 2026 and 2027.
I think Intel badly underestimated how quickly higher memory prices would hit PC demand and trigger an inventory correction.
Lip-Bu also expects the industry to remain supply constrained throughout 2027 and into 2028, and says growth would be higher with more industry supply.
Watch Industry server CPU unit growth against the 30%-plus expectation for 2026 and 2027.
Source →KYEC reportedly plans a new Texas fab backed by a $1.1 billion prepayment from NVIDIA
Jukan relays a report that Taiwanese wafer-testing company KYEC plans to build a new fab in Texas, backed by a $1.1 billion NVIDIA prepayment, and asks whether TSMC could head to Texas too.
Taiwanese wafer testing company KYEC reportedly plans to build a new fab in “Texas,” backed by a $1.1 billion prepayment
The reported plan ties a Taiwanese test supplier's Texas fab to NVIDIA prepayment funding.
Watch Confirmation of KYEC's Texas fab plan.
Source →NVIDIA's final Rubin specs put per-GPU HBM4 bandwidth at 19.2 TB/s, below the 22 TB/s preliminary target
TheValueist says NVIDIA called earlier Vera Rubin specifications preliminary targets; per-GPU NVLink 6 bandwidth is 3 TB/s versus a 3.6 TB/s target, while HBM4 capacity is unchanged at 288 GB.
AI SILICON DAILY DIGEST, THURSDAY, OCTOBER 29, 2026 SPEC CORRECTIONS • NVIDIA Rubin final production specs confirmed.
At rack scale, Vera Rubin NVL72 lists 1,400 TB/s of HBM4 bandwidth and 216 TB/s of NVLink bandwidth, while networking bandwidth rose to 32.4 TB/s.
Watch Vera Rubin volume production at the final specifications.
Source →Only 6.3% of the PCE basket rose at a 0-2% pace in September, the lowest in the series
@ces921 says 52.6% of the basket ran above 3% in September, up from 29.5% in August, and 1-month annualized trimmed-mean PCE rose to 2.8% from 2%.
Trimmed Mean PCE Inflation showing signs of re-acceleration and broadening out in the September print.
The author calls the above-3% share an elevated plateau rather than a clear acceleration, but says the split distribution, with very little near 2%, is what sticky inflation looks like.
Watch Whether the above-3% share holds near its 44.0% three-month average.
Source →