Kristina Partsinevelos
@KristinaParts
@CNBC Nasdaq correspondent covering semiconductors and AI hardware. Montreal native with a passion for dance and cookies.
1.3K Following 31.4K Followers
A strong quarter. A raised forecast. And a 7% drop. Here's why $MRVL fell after earnings and why the Google deal everyone got excited about wasn't the upside investors thought it was:
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Nvidia's blowout guide was supposed to re-light the AI trade. It's not holding, memory sold off, neoclouds faded, and $NVDA can't hold its levels, down ~4%.
When a stock gets great news, pops, then gives back, that's a warning sign for technicians:
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Marvell CEO: AI-related bookings remain exceptionally robust. CNBC's @KristinaParts joins us with the latest. Dan Nathan @RiskReversal @GuyAdami and @timseymour react.
$MRVL
Nvidia denies the pause:
"The new business model we introduced in July that opens up compute access to the fast-growing AI ecosystem is still in place and continues to evolve due to high demand." $NVDA
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And there we go
*NVIDIA PAUSES REVENUE-SHARING DEALS WITH AI COMPANIES: WSJ
*NVIDIA STEPPED BACK FROM REVENUE-SHARING PROGRAM LAST WEEK: WSJ
Marvell CEO: AI-related bookings remain exceptionally robust. CNBC's @KristinaParts joins us with the latest. Dan Nathan @RiskReversal @GuyAdami and @timseymour react.
$MRVL
NEW $NVDA CEO on buybacks: those big AI-lab investments this year won't repeat, because he expects those firms to go public. That frees up "tremendous" free cash flow next year. Buybacks were 60% of returns last quarter, and says "we are going to increase that going forward".
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NEW On @MadMoneyOnCNBC, $NVDA CEO Jensen Huang added color on the AWS deal: beyond the 2 million GPUs, Amazon's also buying "millions of CPUs" plus using Nvidia tech for robotics. $AMD $INTC
NEW On @MadMoneyOnCNBC, $NVDA CEO Jensen Huang added color on the AWS deal: beyond the 2 million GPUs, Amazon's also buying "millions of CPUs" plus using Nvidia tech for robotics. $AMD $INTC
NVDA is up +13% this year while the chip index is +70%. One of the widest gaps against its own sector on record. Why the beats stopped working: $NVDA
A wave of AI earnings is lifting the chip trade this morning. Foxconn, Lumentum, CoreWeave, Nebius and Super Micro all delivered after a tough July. The message: the world is still short on compute, and pricing keeps climbing. More here: $LITE $CRWV $SMCI
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Nvidia wants Wall Street to treat its chips like real estate, something you can lend against and resell. Six firms are raising $500B to fund AI buildouts with Nvidia offering to back up to 25% on select deals. Is GPU compute the new collateral? More $NVDA:
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Intel is now selling $20B in stock, up from $15B, at $95 a share. Dilution stings for current holders. But it's a positive for the demand narrative across AI chips and $INTC equipment and materials suppliers who get paid when Intel builds. More here:
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NEW: Months after Nvidia paid ~$20B for Groq's inference tech, AMD is making its own move: acquiring Taalas, a Toronto startup that etches AI models directly into silicon. The deal deepens $AMD's push into the AI inference market. Terms weren't disclosed. $NVDA
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We are pleased to share that Taalas has agreed to join AMD.
We built Taalas to rethink AI inference from the ground up: hardware designed around the model, rather than the other way around. The result is the world's fastest and most cost-effective inference silicon.
Joining AMD gives us the scale, engineering resources, and global reach to bring that work to the world – and to accelerate what comes after it.
We are also excited to build on AMD's long-standing presence in Canada and its continued commitment to the country's AI ecosystem. Many of us grew up at AMD Canada, and are looking forward to coming home.
We are proud of what this team has built, and even more excited about what comes next.
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And the written word: SpaceX's earnings are not helping its stock, but Nvidia is getting a boost
AMD shares falling after a guide that beat but didn't wow, a capex spike, and Elon Musk saying his companies will go "exclusively on Nvidia." Nvidia moving higher on the flip side. Here's a breakdown on why good wasn't good enough:
$AMD $NVDA $SPCX
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AMD shares falling after a guide that beat but didn't wow, a capex spike, and Elon Musk saying his companies will go "exclusively on Nvidia." Nvidia moving higher on the flip side. Here's a breakdown on why good wasn't good enough:
$AMD $NVDA $SPCX
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Nvidia is putting its balance sheet behind the AI boom. It's reportedly in talks to guarantee financing so OpenAI can lease a data center, on Nvidia's credit rather than its own, without writing a check. Can its free cash flow absorb these deals? $NVDA
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NEW: I asked $NVDA about the reported $250B OpenAI financing backstop. No comment on that but a spokesperson gave this statement about Jensen:
"Jensen is in DC to meet with leaders on both sides of the aisle to discuss American leadership in AI, including leading in open source."
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$ASML lower on report that Chinese player may ship a handful of domestic DUV machines. Domestic tooling isn't new. Layer it on the MATCH Act overhang and it feeds the China bear case, but the move is about positioning: semicap is crowded into earnings and has been sell-the-news
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Why Intel's rally couldn't hold video explainer. Remember this is a momentum name:
$INTC
Intel beat, locked in customers, raised capex. Stock pops. Then the market asks: $20B+ capex into PC weakness with no foundry wins to show, no 2027 capex number, and equity raise isn't ruled out. Those questions turned the tape. Nothing in chips impresses lately. $INTC $TSM $ASML
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Intel beat, locked in customers, raised capex. Stock pops. Then the market asks: $20B+ capex into PC weakness with no foundry wins to show, no 2027 capex number, and equity raise isn't ruled out. Those questions turned the tape. Nothing in chips impresses lately. $INTC $TSM $ASML
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Intel locked in 10+ customers on long term agreements and is raising capex on that visibility. TSMC beat, ASML beat, TXN beat. All fell. Intel beat AND has line of sight to years of demand similar to memory. That's why it's the only one up afterhours. $INTC vs $TSM $ASML $TXN
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Intel CFO: foundry is two businesses - wafers and adv. packaging. On packaging side: "We have already started to get backlog there."
Lip-Bu Tan has "good line of sight to billions of dollars in business now on advanced packaging." It's differentiated vs co-packaging. $INTC
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