Mizuho semi supply chain tracker: no delays 800VDC & strong demand $NVDA CPO switch: "In the HVDC/800VDC investment case, the deployment schedule should be an average of 12-month lead-time from the initial system (like power rack) shipment by vendors, in our view" "Lumentum ( $LITE ) highlighted a rising adoption rate of InP-based NPO from its clients and we also expect stronger Google TPU demand to boost $AVGO VCSEL-based NPO sales. "micro-LED (uLED) based optical solutions that are developed and promoted by other chipmakers, such as Credo ( $CRDO ) in ALC (LED cables) and Avicena (private), to capture future scale-up (XPU to XPU) and scale-in (XPU to HBM) opportunities."

Mizuho ASIC channel checks: pounding table on $AVGO "potential >35M TPU shipments in 2028E (up 8x from 2026E ~4.3M and 2025 ~2.4M), which is significantly above our estimates of ~7M ASIC shipments for AVGO" "We believe OAI ASIC is in development with 10GW AVGO project (Nexus) adding to TPU/MTIA/ARM roadmap." "Our call noted $ARM AI ASIC chip development ongoing as we continue to expect a launch in late-2026E/early-2027E" " $MU : With potential for TPU shipments to reach a cumulative 50M units in 2026-28E, we think ASICs could command an increasing share of the HBM market, especially as some of the next-gen ASICs move to HBM4e"

Analogs- Mizuho: "we see as many as 6 OEMs implementing price hikes into 2H26E as demand for select components remains very tight. We see $NXPI, $TXN, IFX, Molex, $STM and Shanghai Belling all noting price increases with some noting price increases of up 5-30% as AI servers drive increased demand. We believe some analog suppliers are having to absorb some of the cost increases being handed out by wafer suppliers. Additionally, we continue to see suppliers of memory and MLCC raising prices, further straining the supply chain and increasing the cost for end consumers across auto and industrial end markets. We believe memory/storage component and AI DC power price increases will be able to be passed on to customers, with only high-end MCUs and HV MOSFET/IGBTs seeing higher prices passed on." Evercore: Our $ON checks remain positive, and SYNA accelerates ON’s development of edge-AI processors and accelerates its push into edge and physical AI."

THE BLOCK: Mizuho analysts say Circle's OCC approval to launch a national trust bank isn't a cure-all. USDC's shrinking market cap and mounting competition from Open USD are still weighing on $CRCL stock.

$META | Mizuho reiterates 𝐎𝐮𝐭𝐩𝐞𝐫𝐟𝐨𝐫𝐦 on 𝐌𝐞𝐭𝐚, maintains 𝐏𝐓 𝐚𝐭 $𝟖𝟑𝟓, 'we take this as a positive, adding a margin of safety to medium-term EPS' Analyst sees reports of a Meta Compute business as a positive 'Plan B,' showing commitment to delivering ROI on AI investment and adding a margin of safety.

Interesting. According to Mizuho, as NVIDIA changed the cooling material for Rubin, the performance of liquid-metal TIM2 became unstable. As a result, NVIDIA redesigned the cold plate module and reverted back to Griffin. In other words, Rubin’s cooling module design appears to have shifted back toward a more conservative approach. This makes me wonder whether it can still handle Rubin’s massive TDP.

The fifth SHANGHAI concert greeting video Mizuho Ono is here to say hello to everyone! take a look👀 TSUBAKI FACTORY FIRST CONCERT 2024 C’mon Everybody to SHANGHAI ! Organizer Weibo more info: #HelloProject# @tsubakifac_uf

Tsubaki Factory Member Introduction — Vol.2 💚 Sub-leader Mizuho Ono — a smile that warms everyone & a soulful bass voice ♥ ▶️ Watch the full video on our Facebook! @tsubakifac_uf #TsubakiFactory# #MizuhoOno# #HelloProject# #Jpop#