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· Post-Market Alpha · by Buzzberg Research
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Nvidia key-person risk
1 video · 6mSeaport's Jay Goldberg says Nvidia lacks a visible succession plan and that leadership uncertainty could give AMD and Broadcom openings to gain share.
Seaport's Jay Goldberg says Nvidia's case is unusually dependent on Huang and lacks a visible succession plan
Goldberg argues leadership-removal risk is a major overhang and that Nvidia, unlike Apple, lacks a visible succession plan. Near-term AI chip demand may remain solid, but Nvidia could be distracted by legal and political matters.
CoreWeave CEO Mike Intrator says contracted AI compute demand still exceeds the company's ability to build
CoreWeave reported a Q3 revenue beat, raised guidance and improved margins earlier than planned, with a large backlog concentrated in a single large AI customer. Management expects a new investment-grade asset-backed issuance shortly to lower its blended cost of capital.
Sixth Street's Alan Waxman says AI financing shows pre-dislocation signals despite genuine demand
Waxman points to very rapid credit growth in data-center construction and chip financing, concentrated insurance-company exposure and large volumes of chips sitting in warehouses awaiting unfinished facilities.
Morgan Stanley expects local opposition to push part of the 2028 US data-center pipeline into 2029
The note says midterm outcomes elevated local opposition to data centers over electricity costs, water use and local benefits, shifting project timing and location rather than reducing overall investment.
Morgan Stanley's Mike Wilson sees the correction in its final phase, with possible further S&P 500 downside to 7,100-7,200
Wilson says the correction that began in June is entering its final phase but the last stage may remain uncomfortable, while smaller-cap stocks have already absorbed substantial damage.