1. Nebius achieved 625% YoY revenue growth in Q2 2025, with raised ARR guidance implying over 1000% annual growth, reflecting surging demand for AI computing; 2. The company is nearing profitability with improved operational efficiency, achieving positive adjusted EBITDA ahead of schedule; 3. Despite high valuation, the author maintains a buy rating due to exceptional growth and cost control aligning with long-term potential.
Recent #Growth news in the semiconductor industry
1. Palantir remains a buy recommendation due to strong fundamentals and an adjusted PEG ratio of 3.1x, suggesting undervaluation despite high multiples; 2. Accelerating revenue growth (48% YoY in Q2, 93% surge in U.S. commercial revenue) supports a bullish 2026 outlook; 3. Risks include potential valuation compression if growth slows, but execution could unlock long-term upside toward $3.5B FCF and 35%+ growth.
1. The author remains ultra bullish on Nebius Group (NBIS) due to TSMC's strong Q2 revenue growth, signaling robust demand for Nvidia GPUs, which Nebius relies on; 2. Key focus areas for NBIS' Q2 earnings include ARR guidance, data center expansion plans (New Jersey, Finland, Israel), and Capex updates; 3. While tariffs on semiconductors pose a risk, the author downplays immediate concerns but anticipates volatility around August 1. NBIS constitutes 12% of the author's portfolio.
1. Snowflake exceeded Q1'26 revenue and EPS estimates, driven by enterprise customer growth and a 124% net revenue retention rate; 2. The company maintains a strong buy rating due to AI product adoption and healthy free cash flow, despite slight retention rate pressure; 3. Raised FY2026 revenue guidance to $4.3B (25% YoY growth), reinforcing long-term bullish outlook despite risks from declining retention rates.
➀ TSMC reported a 42% year-over-year increase in revenue to $25 billion and a 60% increase in profit to $11.1 billion for the first quarter.
➁ The company expects 20% growth this year and has set its 2025 capital expenditure at $38-42 billion.
➂ For the second quarter, TSMC forecasts revenue between $28.4 and $29.2 billion, up from $20.8 billion in the same quarter last year.
➀ Q1 2025 smartphone shipments increased by 1.5% year-on-year to 304.9 million units, according to IDC.
➁ Chinese vendors, supported by government subsidies, saw significant growth in the domestic market.
➂ Samsung led the market, followed by Apple, Xiaomi, OPPO, and vivo, with notable growth for vivo and OPPO.
➀ TSMC reported a 41.6% year-on-year increase in Q1 revenues;
➁ March revenues were $8.7 billion, up 10% month-on-month and 46.5% year-on-year;
➂ Total Q1 revenues reached $25.5 billion.
➀ IDC reported that PC unit shipments in Q1 2025 reached 63.2 million, a year-over-year increase of 4.9%;
➁ The entire PC ecosystem attempted to accelerate deliveries to avoid the impact of US tariffs and expected volatility;
➂ Underlying demand factors for PCs, such as Windows 10 upgrade and AI demand, remain strong, but uncertainty over US tariffs and global economic risks may negatively impact demand in 2025.
➀ Marvell is selling its Automotive Ethernet division to Infineon for $2.5 billion.
➁ The division has a sales forecast of $225-$250 million this year with a 60% gross margin.
➂ The acquisition includes Marvell’s Brightlane Automotive Ethernet portfolio, which supports network data rates up to 10 Gbps.
➀ After two years of decline, AR/VR headset shipments grew by 10% in 2024, according to IDC.
➁ Meta leads the market with a 74.6% share, followed by Apple, Sony, ByteDance, and XREAL.
➂ Meta and XREAL are the only two among the top five companies that recorded year-over-year growth.
➀ SEMI announced a 2% year-over-year growth forecast for front-end fab equipment spending in 2025, reaching $110 billion;
➁ This growth is driven by demand in HPC and memory sectors, as well as the increasing integration of AI;
➂ The Logic & Micro segment is expected to be a key driver of growth, with investments reaching $52 billion in 2025 and $59 billion in 2026.
1. I upgrade Alibaba to a 'Strong Buy' with a one-year target price of $174; 2. Driven by growth in AI, cloud computing, and government subsidies; 3. Management plans substantial CAPEX in AI and cloud computing, enhancing future growth prospects.
➀ The server market grew 91% year-over-year in Q4 2024, with revenue reaching a record $77.3 billion. Revenue from x86 servers increased 59.9% to $54.8 billion, and non-x86 servers increased 262.1% to $22.5 billion. Servers with embedded GPUs saw a 192.6% year-over-year growth.
➁ Nvidia dominated the server GPU market with over 90% of shipments with embedded GPUs in 2024Q4. The adoption of servers with embedded GPUs by hyperscalers and cloud service providers has been a significant driver of market growth.
➂ The U.S. was the second fastest-growing region in the server market, with China also experiencing significant growth. Dell Technologies and Supermicro tied for the number one position in the market, followed by Hewlett Packard Enterprise, IEIT Systems, and Lenovo.
➀ The Semiconductor Industry Association (SIA) reported that January 2025 semiconductor sales reached $56.5 billion, up 17.9% year-on-year compared to January 2024;
➁ Despite a slight decline from December 2024, the global semiconductor market maintained momentum in January, achieving its highest monthly sales total for the month of January;
➂ Sales increased by more than 17% year-on-year for the ninth consecutive month, with a significant increase of 50.7% in sales to the Americas.
1. AMD's stock decline from $211 to $99 seems excessive; 2. Wall Street analysts remain bullish, while Seeking Alpha analysts offer more moderate optimism; 3. AMD's diversified business includes Data Center, Client, Gaming, and Embedded segments, with Data Center showing the most promise; 4. Financially strong, AMD expects high double-digit growth in revenue and EPS; 5. Fair Value estimated at $129.1, suggesting a 30% upside.
➀ Sri Lakshmi Simhadri discusses MosChip's achievements in 2024;
➁ Challenges faced in adapting to market changes and hiring skilled professionals;
➂ Insights on the biggest growth area for 2025 in the semiconductor industry.
1. Ferrari ended 2024 with strong results, exceeding expectations and providing a positive outlook for 2025; 2. The company's business model is driven by brand desirability and scarcity, with consistent execution and favorable demand/supply ratios; 3. For 2025, Ferrari is expected to achieve higher growth due to new models and non-car segments, including key catalysts like the EV launch and Lewis Hamilton's first year.
1. VRT achieved a 25.8% YoY topline growth in Q4 2024, driven by strong demand in EMEA and double-digit growth in Americas and APAC; 2. Robust demand, elevated backlog levels, and significant AI-driven investments are expected to sustain VRT's growth momentum into FY25 and beyond; 3. Anticipated volume growth and operational improvements are expected to drive margin growth.
➀ Sondrel offers a comprehensive custom chip creation service focusing on meeting customer needs and ensuring quality;
➁ Anticipates growth in advanced semiconductor designs due to increasing complexity in electronics;
➂ Highlights importance of detailed project alignment with customers using an Architectural Specification stage.
➀ The Semiconductor Industry Association (SIA) reported that global semiconductor sales reached $627.6 billion in 2024, a 19.1% increase over 2023's total of $526.8 billion.
➁ Fourth-quarter sales were $170.9 billion, marking a 17.1% increase from the same period in 2023 and a 3.0% rise from the third quarter of 2024.
➂ Double-digit growth is projected for 2025.
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