Ideas
Broadcom co-developed OpenAI's custom inference chip Jalapeño, an ASIC that went from design to production in nine months. This reinforces Broadcom's role in custom silicon for top AI labs, expanding
Broadcom co-developed OpenAI's custom inference chip Jalapeño, an ASIC that went from design to production in nine months. This reinforces Broadcom's role in custom silicon for top AI labs, expanding its revenue opportunity beyond networking.
Risk: Dependence on a single large customer (OpenAI) and potential for margin compression if custom chip volumes ramp rapidly.
Celestica is named as the manufacturer of OpenAI's Jalapeño chip, alongside Broadcom. This is a high-profile contract win that could lead to additional custom AI chip manufacturing deals, boosting Cel
Celestica is named as the manufacturer of OpenAI's Jalapeño chip, alongside Broadcom. This is a high-profile contract win that could lead to additional custom AI chip manufacturing deals, boosting Celestica's semiconductor services revenue.
Risk: Manufacturing execution risk and the possibility that subsequent generations are insourced by OpenAI or shifted to another partner.
IBM announced a breakthrough sub-1-nanometer transistor chip with nanostack architecture and 100B transistors, plus 40% SRAM scaling improvement. While production is 5 years out, the technology leader
IBM announced a breakthrough sub-1-nanometer transistor chip with nanostack architecture and 100B transistors, plus 40% SRAM scaling improvement. While production is 5 years out, the technology leadership enhances IBM's semiconductor R&D credibility and potential future foundry partnerships.
Risk: Long time to commercialization; competing architectures (e.g., GAA from TSMC/Samsung) may leapfrog IBM's design before it reaches production.
Meta invested $900M for a 20% stake in CRED and installed its founder as WhatsApp head, targeting India's UPI payments market. With WhatsApp Pay at just 0.65% share and a potential cap on current lead
Meta invested $900M for a 20% stake in CRED and installed its founder as WhatsApp head, targeting India's UPI payments market. With WhatsApp Pay at just 0.65% share and a potential cap on current leaders by Dec 2026, Meta is positioning for a massive TAM expansion in digital payments.
Risk: Regulatory uncertainty around the UPI cap enforcement; Meta has already spent $6.6B with little traction, and the new strategy may face integration or user adoption challenges.
This newsletter, published June 28, 2026,
features Chamath Palihapitiya
discussing AVGO, CLS, IBM, META.
4 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Chamath Palihapitiya
· Tickers:
AVGO,
CLS,
IBM,
META