Theme · AI Compute
TSMC 2Q26: The Capex Raise Is the Real Signal
Margins were close to expectations, but capex and third-quarter guidance moved sharply higher. The bigger signal is stronger AI demand visibility—and TSMC's willingness to add capacity.
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TSMC 2Q26: The Capex Raise Is the Real Signal
Higher capex and third-quarter guidance strengthen the AI demand signal, even as the N2 ramp weighs on near-term margins.
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Memory Selloff: Why Deleveraging May Not Be Over
ADR liquidity, quant unwinds, and tighter Korean rules point to where the selloff stands—and what to watch next.
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Five Signals Reframe the AI Compute Story
Meta's expansion, long-term accelerator commitments, and foundry capex reinforce demand and clarify the U.S.-listed beneficiaries.
Read the research →The Memory Supercycle Across Global Markets
Rising investment, higher memory prices, and the HBM upgrade cycle are shifting the story from a cyclical rebound to capacity-driven earnings.
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Three Forces Repricing U.S. Pharma
When regulation, dealmaking, and payer coverage shift together, the sector can move beyond isolated catalysts to a broader repricing.
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