TSMC April revenue came in at NT$349B — +60% YoY and well above street consensus. N3 process node is the driver: both Apple and NVIDIA are ramping hard. Capacity constraints are real and pricing power is intact through 2025. Strong read-through for NVDA, AAPL, and AMD.

AMD's MI300X is gaining inference market share. In LLM inference benchmarks it now matches H100 at 70% of the price. Training moat is intact but inference is genuinely contested. Watch gross margin mix shift as inference workloads grow. This is a real competitive development, ...

Azure OpenAI Service reached $1B quarterly revenue as of Q1 FY2025, 4 quarters ahead of the original analyst day roadmap. GitHub Copilot at 1.8M paid seats with net revenue retention above 130%. MSFT's AI monetization is not a 2027 story — it's running now.

Apple Intelligence runs on A17 Pro and M-series chips — estimated 2.1B eligible devices. Even at 15% monetization via upgraded iCloud tiers and App Store AI features, the incremental revenue opportunity is $8-12B annually within 3 years. The Street is modeling AAPL AI purely a...