#CPO# #NVIDIA#'s Optics on Interposer moves optical engines from the package substrate to the interposer, which could raise bandwidth density and cut power. Nikola Nedovic presented it at #SEMICONWest# 2026; NVIDIA says a prototype exists. $NVDA #OOI#

During SEMICON West 2026, Soitec highlighted LT memory applications as a high-upside opportunity, but advised investors not to include them in current estimates because the likelihood of it materializing is still uncertain.

$TER: Rubin Test Times Are Nearly Twice Blackwell’s At SEMICON West, $TER told Goldman Sachs ($GS) that test times for $NVDA’s Rubin are nearly twice Blackwell’s, according to the bank’s October 14 research note. The implication: even unchanged GPU shipment volumes could require more testing capacity if each device occupies equipment longer. That gives $TER a potential demand driver beyond unit growth. Actual equipment demand still depends on parallel testing, utilization and test-program optimization. Source: Goldman Sachs ($GS), SEMICON West 2026 research note, October 14, 2026.

Big week ahead in SF and San Jose ✈️ DigitalOcean’s Open Intelligence Summit, SEMICON West and dinner, then OCP. AI agents, chips and the infrastructure behind it all. Looking forward to getting out from behind the screen. Around next week? DM me. Let’s meet up 🤝

AI CONFERENCES AND INVESTOR DAYS, WEDNESDAY, OCTOBER 14, 2026 YESTERDAY: INVESTOR DAY TAKEAWAYS APPLIED MATERIALS INC INVESTOR DAY Tue Oct 13, SEMICON West, San Francisco Replay: • New long-term targets through 2030: gain more than 2 percentage points of wafer fab equipment share from calendar 2025 to 2030, with non-GAAP gross margin of approximately 54% and non-GAAP operating margin of approximately 40% • Services revenue targeted to exceed $12B by 2030 and the eBeam portfolio at about $2B in 2026; committed to returning 80% to 100% of free cash flow to shareholders over time • Leading-edge foundry-logic, DRAM and advanced packaging expected to drive about 75% of wafer fab equipment growth from 2025 to 2030; management declined to give a near-term wafer fab equipment industry forecast • Stock reaction: shares fell about 7.7% to $459.20 on the day, a sixth consecutive decline, as investors focused on the missing industry forecast despite the new targets WORKDAY INC INVESTOR DAY Tue Oct 13, Las Vegas, during Workday Rising Replay: • Maintained the expectation for 11% subscription revenue growth entering fiscal 2028, with upside flagged from adoption of AI agents and other AI offerings • AI portfolio approaching $600M in annual recurring revenue, more than 3x the level a year earlier; 25% of the core customer base has adopted one or more AI products, and about 900 customers bought at least one agent in the trailing 12 months • Agent portfolio narrowed from 50 to 20 agents, 17 in production; Agent-Ready Tools, Workday Data Cloud and the Agent Harness are now generally available, and 125 customers have built 500 agents since June • Total addressable market framed at $276B, about $176B in human capital and financial management and $100B in AI and platform; the announced C1 acquisition extends Workday into identity governance for human and AI agent identities • Financial framework: non-GAAP operating margin target above 33%, free cash flow per share of $13 this year and $15 in fiscal 2028, and $4B remaining under the repurchase authorization after completing the $5B buyback early; shares eased about 1% on the day TODAY ACCENTURE PLC INVESTOR DAY Wed Oct 14, 8:30 AM ET, New York Webcast: • First investor day since the Anthropic partnership announced Sep 18, where each side expects to invest at least $1B over 5 years in a model evaluation venture, and since the Oct 1 FQ4 and FY26 results on about $74B of FY26 revenue • The financial presentation was furnished with an 8-K today: FY26 adjusted EPS $13.97, adjusted operating margin 15.8%, free cash flow $11.6B, bookings $84.5B for a 1.1 book-to-bill, and $11.5B returned to shareholders • New FY27 to FY29 framework: mid-single digit revenue growth in FY27 and FY28, mid-to-high single digits in FY29, and 10 to 30 bps of annual operating margin expansion • Watch: AI revenue disclosure, bookings conversion, fixed-price mix, and how the FY27 guide of 3% to 6% revenue and adjusted EPS growth and at least $9.5B of shareholder returns maps into the new multi-year targets SAILPOINT INC INVESTOR DAY Wed Oct 14, 12:00 PM ET, virtual Webcast: • Analyst and investor webcast recapping Navigate innovations, Austin Oct 5 to 8, with a live product demo, replay for 1 year • Not a guidance event • Watch: whether new identity capabilities for non-human and agentic identities are new product or repackaging, and any pipeline commentary TOMORROW SEMTECH CORP INVESTOR DAY Thu Oct 15, 9:00 AM PT, San Jose Webcast: • Data Center Analyst Day and Teach-In with CEO Dr. Hong Hou, Imran Sherazi of Signal Integrity, and CFO Mark Lin, plus an industry expert panel and product demos, replay for 90 days • Setup: strategy, technology portfolio, and long-term financial objectives for the data center business • The number: the 1.6T and 800G ramp and active copper cable timing • Watch: any long-term financial model, and the cost of the reserved Tower Semiconductor capacity SEMTECH CORP CONFERENCE PRESENTATION Thu Oct 15, 12:00 PM, San Jose, time unconfirmed Webcast: • A separate data center business listing for the same San Jose teach-in covered above • The company release confirms a 9:00 AM PT start; a separate 12:00 PM session time is unconfirmed REMAINING THIS WEEK Nothing remaining this week. LATER • Mon Oct 19: Qnity Electronics at ICPT, Gangseo, Korea • Tue Oct 20: Zoom Communications Investor Day, 4:00 PM, webcast on Zoom IR • Fri Oct 23: Tempus AI at ESMO 2026 • Mon Oct 26: DCD Connect MENA, Dubai, Oct 26 to 27 • Tue Oct 27: Celestica Investor Day, virtual, tied to Q3 • Tue Oct 27: DCD Investment Forum MENA, Dubai • Tue Oct 27: Guidewire Software Investor Day, 7:30 PM • Wed Oct 28: Oracle Investor Day • Tue Nov 3: DCD Connect Virginia, Leesburg, VA, Nov 3 to 4 • Wed Nov 4: DCD Connect Brasil, DCD Investment Forum Brasil, and Xcelerated Compute Show Brasil, Sao Paulo, Nov 4 to 5 • Thu Nov 5: Box Investor Day, San Francisco • Fri Nov 6: Global Unichip at TSMC 2026 Japan OIP Ecosystem Forum, Tokyo • Mon Nov 9: Entegris Investor Day, 1:00 PM • Tue Nov 10: Cohu Investor Day, New York • Tue Nov 10: Flex Investor Day, Austin • Wed Nov 11: Munters Group Capital Markets Day, Stockholm • Thu Nov 12: Global Unichip at TSMC 2026 Taiwan OIP Ecosystem Forum, Hsin-chu • Sun Nov 15: Penguin Solutions at SuperComputing (SC26), Chicago • Sun Nov 15: SuperComputing Conference 2026 (SC26), Chicago, Nov 15 to 20 • Sun Nov 15: Vertiv at SuperComputing (SC26), Chicago • Tue Nov 17: Global Unichip at TSMC 2026 China OIP Ecosystem Forum, Beijing • Tue Nov 17: XTI Aerospace at ElevateUAV Summit, Florida City • Thu Nov 19: KVH Industries at CSN Greece ICT Conference, Athens

Just updated our Hedgeye Fab Database (with 43 global foundry players), which is our crystal ball to forecast 2027-2028 WFE. I think overall, semicaps could tread water . Big $AMAT investor breakfast and Semicon West next week —waiting to see what they say on $INTC

Exclusive reporting by Korean media on Terafab: Terafab is excluding Chinese suppliers entirely. It wants to work with Korean suppliers because Japanese products are expensive. However, it is asking Korean companies to offer prices even lower than those of Chinese suppliers. Terafab decided in advance which companies to approach and which products to discuss at SEMICON West 2026, then visited their booths as soon as the show opened. Leading global semiconductor equipment suppliers Lam Research and Applied Materials have set up dedicated Terafab teams. The initial facility, with a capacity of 100,000 wafers per month, is expected to be completed before 2030. For logic chips, Terafab is working with Intel and is also in talks with TSMC. It is understood to be developing a separate manufacturing process for memory chips. A representative from an overseas equipment supplier said, “My understanding is that Musk initially explored acquiring production facilities from Intel, TSMC, and Micron, but shifted toward partnerships after being turned down. I have never seen this level of drive anywhere else in the semiconductor industry.” A representative from a Korean partner company said, “Even when we send inquiries in the early hours of the morning in the U.S., we get a response within 30 minutes to an hour. Their engineers have decision-making authority, so working with them is completely different from working with typical customers.”

AI Conferences and Investor Days, Friday, October 9, 2026 TODAY No tracked events today. TOMORROW No tracked events tomorrow. REMAINING THIS WEEK Nothing remaining this week. LATER OCP GLOBAL SUMMIT 2026 Mon Oct 12 to Thu Oct 15, San Jose McEnery Convention Center. Theme: "Scaling Innovation for the AI Era". Sold out; registration closed with no onsite signup. No public livestream found; keynote and session recordings expected on the Open Compute Project YouTube channel after the event: Keynotes Mon Oct 12 (PT): AMD Chair/CEO Lisa Su, 4:15pm, open full-stack infrastructure for agentic AI; Broadcom's Asad Khamisy (SVP, Core Switching), 5:30pm, "Scaling AI Infrastructure Through Open Innovation"; NVIDIA's Ian Buck (VP Hyperscale/HPC), 5:55pm, "AI Factories at Scale"; Meta keynote (speaker and time unconfirmed). Themes to watch: rack-scale AI factory architectures (Vera Rubin NVL72, MGX, DSX); Ethernet vs InfiniBand for AI scale-up (Broadcom Tomahawk 6, Thor Ultra 800G, OCP ESUN vs NVIDIA Spectrum-X); power delivery and thermals (800V DC racks, liquid cooling); optical interconnect (CPO, 448G signaling). 42 tracked company sessions (Oct 12-13; times ET): AMD, NVIDIA, Broadcom, Meta, Alphabet, Arm, Marvell, Astera Labs, Credo, Lattice, SK hynix, Samsung, MediaTek, Intel, Cisco, HPE, Dell, Microsoft, Oracle, Super Micro, Vertiv, Eaton, Nokia, TE Connectivity, Celestica, Flex, Jabil, Sanmina, Wiwynn, Pegatron, Mitac, Foxconn Industrial Internet, Inventec, Keysight. Also: Lattice/AMI keynote Tue Oct 13, 10:00am PT, "The Open Control Plane: From AI Racks to Autonomous Infrastructure" (Ford Tamer, Sanjoy Maity). APPLIED MATERIALS INVESTOR DAY (INVESTOR BREAKFAST AT SEMICON WEST) Tue Oct 13, 8:00-10:30am PT. Webcast: replay same day. Setup: executive leadership team presents during SEMICON West. The number: the 2027 WFE (wafer fab equipment) growth outlook. Why it matters: AMAT is the largest WFE vendor; its outlook frames the 2027 capex cycle and AI-driven fab capacity plans. Watch: a firm 2027 WFE growth figure; commentary on AI-driven capacity adds. WORKDAY FINANCIAL ANALYST DAY Tue Oct 13, 2:00pm PT, Las Vegas (during Workday Rising). Webcast: replay 90+ days. Setup: analyst day alongside the annual customer conference. The number: Agentic AI ARR ~$600M (+200% YoY). Why it matters: the multi-year AI monetization framework sets expectations for converting the installed base to AI products. Debates: seat-based vs consumption (FlexCredits) pricing durability. Watch: FlexCredits disclosure; FY28 subscription growth vs the ~11% framework. ACCENTURE INVESTOR AND ANALYST CONFERENCE Wed Oct 14, 8:30-11:30am ET, virtual. Setup: shares +23% on the Q4 print (~$84.5B FY bookings), faded ~6% since. The number: refreshed long-term growth and margin targets. Why it matters: bellwether for enterprise IT services demand and AI-led consulting. Debates: fixed-price mix; granularity of AI disclosure. Watch: long-term targets; AI bookings disclosure. SAILPOINT INVESTOR DAY Wed Oct 14, 12:00pm ET, virtual. Webcast: replay 1 year. Setup: recap of product introductions from Navigate (annual identity security conference, Austin, Oct 5-8). The number: not a guidance event; product-led. Why it matters: identity security is consolidating; SailPoint's AI positioning against Microsoft and Palo Alto Networks. Watch: genuinely new capability vs repackaging; AWS/NVIDIA pipeline commentary. SEMTECH DATA CENTER TEACH-IN (ANALYST DAY) Thu Oct 15, 9:00am PT, San Jose. CEO Hong Hou, Imran Sherazi (Signal Integrity GM), CFO Mark Lin. Webcast: Setup: stock at 52-week highs; past ACC timing wobbles have been punished. The number: 1.6T/800G and ACC (active copper cable) ramp timing. Why it matters: key read on optical DSP and copper interconnect demand in AI clusters. Watch: ACC ramp milestones; long-term financial objectives. THINKEQUITY CONFERENCE Thu Oct 15, Mandarin Oriental, New York. Single-day small-cap broker conference. AI-relevant presenters include Roadzen (RDZN, 9:30am ET) and Mobilicom (drone track, 1:30pm ET). WEEK OF OCT 19 AND BEYOND • Qnity Electronics (Mon Oct 19, ICPT planarization/CMP conference, Gangseo): semiconductor materials read. • Zoom Communications Investor Day (Tue Oct 20, 4:00pm, timezone unconfirmed). • Tempus AI (Fri Oct 23, presenting at ESMO 2026): AI healthcare name at a medical oncology conference. • Celestica Investor Day (Tue Oct 27): AI data center EMS; key read on AI server build demand. • Guidewire Investor Day (Tue Oct 27, 7:30pm, timezone unconfirmed): insurance software. • Oracle Investor Day (Wed Oct 28): OCI and AI infrastructure. Also tracked: semicap names at the 18th Annual CEO Investor Summit (Tue Oct 13, California): ACM Research, Cohu, Photronics; Kulicke & Soffa (CEO Summit, San Francisco); BE Semiconductor (SEMICON West); Zhen Ding (20th QIC CEO Week, Hong Kong). Wolfspeed at the Wolfe Research quant/macro conference (Wed Oct 14, New York). Unusual Machines at the Maxim Growth Summit (Mon Oct 12, New York).

AI Conferences and Investor Days — Wednesday, October 7, 2026 YESTERDAY: INVESTOR DAY TAKEAWAYS Marvell Investor Day (Oct 6, NYC) Replay via • FY28 revenue raised to ~$20B (from $18B), above $18.2B Street; data center alone near $18B • FY29 custom revenue raised to $12B (from $10B+), matching RBC's pre-event call • New FY2031 frame: $70-90B revenue (midpoint $80B) vs $46.85B consensus; adj EPS >$30; interconnect ~$37.5B framed larger than custom ~$30B • MRVL +5.8% to $287.01; 18+ analysts raised targets (Jefferies $450 Buy, Evercore $433) • Optical names rode along: Ciena +14%, Lumentum +3.8%, Coherent +1.5%, Broadcom +3.7% Zscaler Investor Day (Oct 6, NYC) Replay via • Guidance reaffirmed, not raised: FY27 revenue $3.908-3.938B (+16.6-17.5%), $10B ARR target with no date • Product push: Agentic SecOps (50+ AI agents), AI Gateway, Security for AI ~$70M ARR • ZS +2.9% to $207.79; no analyst revisions yet; stock -5.8% YTD • Read: narrative day, not numbers day; SASE competition question unresolved NEXT WEEK OCP Global Summit (Oct 12-15, San Jose McEnery) Sold out, no onsite; no public livestream announced; promo-code redemption expired Oct 6 • Lisa Su keynote confirmed Mon Oct 12, 4:15pm PT; NVIDIA keynote speaker confirmed (Ian Buck, Monday) • Lattice/AMI keynote Tue ~10am PT; OIF half-day workshop Tue 1-5pm PT (448G, CPO/NPO) • Wed networking track: Ultra Ethernet vs MRC panel (AMD/HPE/Broadcom/OpenAI), Bechtolsheim 400G/lane panel Workday Rising (Oct 12-15, Las Vegas) Digital passes now confirmed: All-Access $299, Essentials FREE; in-person $2,595 • Theme: agentic HR and agentic finance; Workday AI platform monetization read • Monness $218 Buy / Needham $230 Buy ahead of the event SEMICON West (Oct 13-15, Moscone SF) All-In $1,230, Thought Leadership $945, Expo Plus $340; no virtual pass • Ghazi fireside Tue 9:20am; design session Tue 10:30am-4:30pm PT (Cerebras CS-4/Nexus, Lam on agentic AI in manufacturing) • Equipment and advanced packaging checkpoint Applied Materials Investor Breakfast (Tue Oct 13, 8:00-10:30am PT) Free live webcast at replay same day • Watch for a firm 2027 WFE growth figure; Dickerson now sees CY26 WFE up >30% (was >20%) • Backdrop rich: Intel named founding EPIC partner Oct 6; UBS sees 2027 WFE +43%, memory equipment +53% Workday Financial Analyst Day (Tue Oct 13, 2:00pm PT / 5:00pm ET) Live webcast on Workday IR site, replay 90 days • Agentic HR/finance monetization read; partner announcements already timed to Rising Accenture Investor Day (Wed Oct 14, 8:30-11:30am ET) Virtual per IR events page; CEO's "see you in New York" suggests hybrid • Must answer the Oct 1 guide: ~1% organic (Stifel) vs 2% consensus; stock -6% to $200.34 Oct 2 • Watch FY27 organic growth bridge and AI metrics disclosure SailPoint Analyst Webcast (Wed Oct 14, 12:00pm ET, virtual) replay one year • Recap of Navigate announcements (Oct 6): Autonomous Agents, Agentic Fabric, Zero Standing Privilege • Not to be confused with Zscaler's similarly named products Semtech Data Center Teach-In (Thu Oct 15, 9:00am PT, San Jose) Limited in-person; live webcast at • 1.6T/800G and ACC ramp read; Q2 beat with Q3 guide $410M midpoint vs $357.7M consensus LATER NVIDIA GTC Berlin (Oct 20-22) Huang keynote Wed Oct 21, 11am-1pm CEST, free livestream • New: "NVIDIA GTC Live" pregame 9-11am CEST with Gavin Baker and Deirdre Bosa Oracle AI World (Oct 25-28, Venetian Las Vegas) New "Oracle AI World On Air" remote tier: 3 keynotes + 4 spotlights live, 90+ sessions on demand; price not yet visible • OCI GPU capacity and AI Database 23ai announcements; in-person $1,999 ($2,399 late) Celestica Investor and Analyst Day (Tue Oct 27, 8:00am ET) Webcast with replay ~2h after via Q3 results Mon Oct 26 post-close • Operations, strategy, growth, outlook; Midtown lunch forum for institutional/sell-side only NEW INVESTOR DAY • Hyperscale Data (GPUS) Investor Day, Thu Nov 12, 1:15-3:30pm PT, virtual: Michigan AI campus expansion and strategic alternatives; 2027 revenue guide $300-350M TBA list quiet: AMD Advancing AI, Snapdragon Summit, and OpenAI DevDay 2026 editions already happened; CoreWeave London still rescheduled to 2027; Nebius investor hub quiet.

AI CONFERENCES AND INVESTOR DAYS, TUESDAY, OCTOBER 6, 2026 TODAY AlphaSense AlphaSummit 2026 Mon Oct 5-Wed Oct 7, The Glasshouse, New York AlphaSense's annual summit on decision-grade AI: keynotes, live product demos, customer stories. Speakers include Shaquille O'Neal; George Lee, Co-Head of the Goldman Sachs Global Institute; Manish Sharma, Accenture; Andrew Feldman, Cerebras; plus Jefferies, J&J, Pfizer, Salesforce. Themes: future of work, data sovereignty, the connected enterprise, competitive intelligence from market signals. Attending. Marvell Technology Investor Day Tue Oct 6, 9:00am ET, New York Livestream 9:00am EDT via Outcome (midday, per Barron's): FY2031 revenue target $70-90B vs $8.2B in FY2026, roughly 55-60% annual growth. Stock +7.2% to $290.82. Custom silicon $30B at the midpoint, interconnect $37.5B. The FY2029 AI forecast +$2B raise off "over $10B" was RBC's pre-event expectation, not confirmed in midday coverage; $120B cumulative Google deal cited. Read: the bar was sky-high and they cleared it. The $70-90B 2031 framework is the new bull anchor; the debate shifts to execution and custom share vs Broadcom. Zscaler Investor Day Tue Oct 6, 8:30am ET, New York Webcast: The task into the print: re-rate from "conservative 17% grower" to durable 20%+ compounder. Watch: multi-year targets, sales-transition plan (new CRO, ~3% workforce shift to AI), AI monetization timeline (Agentic SOC contributes H2 FY27), net retention (was 115%). No outcome headlines as of midday. TOMORROW No tracked events for Wed Oct 7. NEXT WEEK OCP Global Summit 2026 Mon Oct 12-Thu Oct 15, San Jose Sold out; no remote option confirmed. Keynotes (PT): AMD CEO Lisa Su Mon 4:15pm (confirmed). Tracker agenda also lists NVIDIA's Ian Buck, ARM and Meta keynotes Mon and Microsoft, Intel, HPE keynotes Tue Oct 13; exact times unconfirmed. Investor watch: 800VDC spec maturity and named power suppliers; liquid-cooling standardization; Ethernet vs InfiniBand and CPO timelines; hyperscaler rack disclosures guiding 2027 content-per-rack. Read: capex-signal event, not product launches. Applied Materials Investor Day Tue Oct 13, 8:00-10:30am PT (Investor Breakfast at SEMICON West) Webcast at Watch: a firm 2027 WFE growth figure and AI-driven fab capacity plans. Workday Investor Day Tue Oct 13, 2:00pm PT, Las Vegas Webcast with 90-day replay Centerpiece: the multi-year AI monetization framework. Agentic AI ARR ~$600M (+200% YoY). Watch: FlexCredits consumption metrics; can FY28 subscription growth beat the early ~11% framework? Bar: a credible monetization bridge after the Q2 guidance selloff. Accenture Investor Day Wed Oct 14, New York Webcast. Setup: +16-18% on Q4 (record ~$84.5B FY bookings), faded somewhat since. Watch: long-term targets; a replacement AI disclosure; fixed-price/outcome-based mix; the AI-expands-the-market case vs AI-compresses-consulting. SailPoint Investor Day Wed Oct 14, 12:00pm ET, virtual One-year replay. Not a guidance event. Watch: genuinely new capability vs repackaging; AWS/NVIDIA partnerships converting to pipeline. Semtech Investor Day Thu Oct 15, 9:00am PT, San Jose (Data Center Teach-In) Webcast at The 1.6T/800G and ACC ramp read. Stock at 52-week highs; any wobble on ACC timing gets punished. ThinkEquity Conference Thu Oct 15 (Unusual Machines presenting) Presenting company list on file. Zoom Investor Day Tue Oct 20 (Zoomtopia Investor Session) The most important Zoom investor event in years: double-digit long-term growth guide? Bridge: churn stabilization, Phone/Contact Center, AI monetization. Time unconfirmed. LATER Celestica Investor Day, Tue Oct 27, virtual (tied to Q3). Premier AI-EMS read. Guidewire Analyst Day, Tue Oct 27, Las Vegas. Post-derating credibility: watch Qusar adoption, cloud ARR. Cohu Investor Day, Tue Nov 10, NYC. $850M HPC/AI pipeline; stock +213% YTD, elevated bar. Flex Innovation Day, Tue Nov 10, Austin. Flex + Axiom spin-off (AXM, expected Q1 2027). Read the Form 10 first. Munters CMD, Wed Nov 11, 8:00-11:30am ET, Stockholm. New CEO's first strategy set-piece. Methode Investor Day, Thu Dec 17, 8:30am ET, NYSE (first ever). Turnaround proof-of-concept. Onto Innovation Analyst Event, Thu Dec 17, NYSE. Advanced-packaging bellwether.