Absolutely horrific Two boys, ages 16 and 17, were M*RDERED during a drive by shooting at a teen takeover in Flint, Michigan. The police arrested a suspect but are not releasing the name or description.

Absolutely — here’s a sharper version that keeps your frustration but makes the argument more coherent and viral-worthy: This is exactly why some of you can’t stand up to the wicked people who have been ruling this country for decades. You’ve normalized disproportionate punishment and then wonder why people keep getting away with worse. You gave her a STRIKE, banned her from participating in the Head of House game, made her clean two toilets and bathrooms, forced her to wear an apron, made her sit on a tiny bench, and then automatically put her up for eviction. At this point, what exactly was the punishment supposed to be? 😭 @BBNaija, are we watching a reality show or a correctional facility? Because this is getting ridiculous. #BBNaija#

Abstract of PCB Sector & Initiation & Updates 🔥 Initiating & Transferring PCB Coverage: •Initiating CO-TECH. (8358 TT / Buy / TP: NT$480): Share px -54% since June, Margin ramp-up in 4Q26, expansion of HVLP3/4, and px hikes. •Raise TP: EMC (2383 TT / Buy / TP: NT$6,538): Google share gains, product mix upgrading toward M7+/M8+. •Raise TP: Kingboard Laminates (1888 HK / Buy / TP: HK$60.8): E-glass and FR-4 price hike cycle, expansion of high-end copper foil capacity. •Raise TP: Zhen Ding Technology (4958 TT / Buy / TP: NT$729): Market share gains in VR200, leveraging MSAP, ABF supercycle. ☀️ AI Server PCBs: •Nvidia Vera Rubin: PCB content per GPU $750 (vs. $400 for GB200). •Google TPU v8t/v8i: PCB content $800–$1,000 (vs. ~$700 for v7). •TAM Expansion: AI server PCB TAM projected at $13B in 2026 and $29B in 2027. •Zhen Ding benefits from Nvidia platform gains + mSAP dominance in optical modules/CPO. •mSAP Shortage: 2027 capacity constraints due to 800G optical switch and yield limits ☀️ CCL Dynamics: FR-4 Prices doubled to ~RMB 300 since mid-2025; upcycle extends through end-2027/2028. ☀️ Upstream Supply Shortage: •E-Glass Gap: ~15% shortage; requires 3,000 new machines, but Toyota's annual output is only 2,000 units (fully booked till 2028). •HVLP4 Foil: Year-end 2026 capacity at ~1,200 tons/month with a 400+ ton shortage. #PCB# #ZDT# #NVDA# #msap# #ABF# #EMC#

Abstracts of Addressing Recent Debates on LT Capex and NVDA Platform Content Away from Memories • Recent CSP Earnings Review on Capex: Amazon to $220bn, Google $195-205bn, Meta $130-145bn • U.S. CSP capex forecast at $0.8tn/$1.2tn / $1.4tn in 2026/2027/28 (+45% / +20% YoY in 27/28), supported by healthy balance sheets • Capex growth expected to moderate to +20% / +15% YoY in 2028/29 as CSPs prioritize returns & FCF & uncertainties over AI model competition • Top 5 debt issuance seen at $257bn / $419bn in 2026/27 (31-35% of capex), still manageable • Cumulative debt issuance could reach ~$421bn by 2028, yet remains well-supported • Balance sheets stay very healthy (ex-Oracle): net leverage only ~0.5x (EBITDA basis) by 2028/29 • Net debt-to-equity ratio projected at just 18% by 2029 despite heavy capex

• Reiterate our July 2’s report of Nvidia cutting memory: Vera CPU SOCAMM from 192GB → 96GB → selective SKUs to 64GB by 1Q27
• Rubin Ultra HBM stepped down from 384GB to 192GB/256GB (HBM4/4E); 8-Hi design finalized, yet 12-Hi remains on line up
• Competitors already on lower configs: AMD MI450 Custom and Google TPU Humufish already 8-Hi
• Scale-up expanding via NVL576 w NPO optics to offset reduced memory content
• Nvidia platform OE shipments estimated at 5.8m / 8.1m units in 2027/28
• Still positive on AI trends; prefer GPU / CPU / Optics, cautious on memory commodities
 Recommendations: 1) Nvidia GPU: NVDA (Buy), Hon Hai (2317 TT), SMCI (Buy) 2) CPU: INTC (Buy), AMD (Buy), ASE (3711 TT, ASX, Buy) 3) Optics NPO: LITE (Buy), MRVL (Buy), SMTC (Buy), TSEM (Buy), Bizlink (3665 TT Buy), Browave (3163 TT) #capex# #NVDA# #RUBIN# #Memory# #HBM#