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Tuesday, November 3, 2026

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AMD Earnings Review

AMD reported $13.4 billion in Q3 revenue, with Data Center sales up 97% to $8.5 billion, and guided Q4 revenue to $17 billion.

AMD $660B
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From X

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Convequity on X

AI swarms could make network security more important. Anthropic's October 12 research ran an AI model across 15 cheap Android TV boxes at 0.39 tokens per second. The small models still couldn't reliably complete the full replication cycle. I think we're still early. Inference on this hardware is painfully slow. But the idea is interesting because human-level intelligence isn't necessary for something to reproduce and spread. Think of insects: limited individual intelligence, yet populations can spread widely. An AI worm could carry its model with it, adapt to unfamiliar devices and use compromised hardware to run the next copy. A model too large for one device could be split across several. Better processors and more memory in future cameras, TV boxes and other connected devices would make more local inference possible, wherever attackers can gain access. That creates a security problem beyond installing software on individual devices. You're not going to put an endpoint security agent on every camera or TV box. You need to identify those devices through the network, restrict what they can communicate with and isolate them when compromised. A perimeter firewall alone cannot inspect traffic that never passes through it. I think $FTNT could benefit here. Its agentless device discovery and network segmentation fit this problem, especially across distributed sites. More capable AI on unmanaged devices could increase demand for those controls. The opportunity also extends to networking vendors that integrate security into switches and wireless access points, where they can control how devices connect and communicate.
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SG on X

I am a skeptic of the current quantum companies but cannot ignore that $IONQ just doubled its cash hoard from $2B to $4B, selling shares/prefunded warrants at $40 (above market) covered 2:1 by warrants with a strike at $69.46. Not a bad move imo. While I agree with critics that the warrants are a bit oppressive, shitcos will have to pay up one way or another to raise $$ in size. There are worse structures. No position in IonQ rn, but considering selling long-dated calls in the 2x inverse ETF $IONZ - I think the underlying will participate strongly in any junk bounce towards year end.
@convequity 1 click

Convequity on X

$NVDA's falling unit share in China's data-centre AI chip market overstates how much business Nvidia has lost to Huawei. Three things explain why. 1. IDC counts units, and did not say whether that count includes the Blackwell parts barred from China and reportedly smuggled in. Chinese demand also reaches Nvidia outside China. Xiaomi or ByteDance rents a Blackwell cluster in Malaysia from a local cloud provider. That is Nvidia revenue from a Chinese buyer that never appears as a Chinese unit. So Nvidia's share of what Chinese buyers spend on AI compute is higher than its share of counted units. 2. Huawei's volume growth is real, and memory explains how. Huawei cannot get enough stacked high-bandwidth memory, the HBM that top-end AI chips need. The 910C ran on an older grade, HBM2E, that Huawei had been able to mass procure. The new 950PR uses lower-bandwidth single stack memory instead of stacked HBM, so the 950PR does not depend on HBM supply. Each chip moves data more slowly, and Huawei can make many more of them. Also, we expect 950DT to ramp up quite quickly alongside 960DT coming earlier in 1Q27 instead of original 4Q27 timeline due to Huawei's own HBM variant that is able to ramp up production quicker. 3. So Nvidia's drop is not Nvidia failing to supply China. In our view, it has three causes: US export rules that bar its best parts, Beijing promoting domestic chips and requiring approval to import Nvidia's compliant ones, and a 950 series that beats the 910 series it replaces and is production-wise attractive for model serving. For Nvidia, where Chinese compute spend goes matters more than the China unit count, and much of it still goes to Nvidia hardware, in China or in Malaysia.

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Stevanato down 30%. Yikes.

Stevanato fell 30% after forecasting low-single-digit 2027 growth as lower Nexa syringe volumes from a GLP-1 customer offset solid Q3…

STVN $3.6B
Best Anchor Stocks 3 clicks
BSP · short

Bending Spoons Spa

Bending Spoons is a software and digital-assets holding company that has completed more than 50 acquisitions since 2013.

BSP $29B
Value Investors Club 1 click

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