Elliott Investments has started an activist campaign against Crown Castle. They are a serious firm and came prepared. CCI’s management has a tough fight in store.
The numbers on data center processor revenue share are stark. Nvidia has been growing strongly for years and now dominates the league tables. The only question is really what is the new status quo for their share?
Everyone assumes that Arm and RISC V are locked in a Highlander contest where there can only be one, but in practicer we think we are going to see a lot more chips containing both, sitting next to each other.
There are a lot of reasons why Qualcomm is not a force in the custom ASIC business – fear of creating competing products, no sales culture – but we think the main reason is the can of legal worms it would open up for their IP licensing.
The Naval Treaty of 1922 was seen as an insult to a rising Asian power, a rallying cry that led to further conflict. But its backward focus on old technology limited its relevance. As far as dubious historical analogies go this may hold some relevance.
During a cyclical downturn, the worst thing CEOs can do is talk their stock up. When times are tough the currency that matters most to the Street will be credibility – not earnings, not growth, not miracle products.
The market for Semis IP has gotten a lot more interesting in recent years, and looks set to become even more so. And while the incumbents retain their market concentration, the changing nature of compute is opening the doors to many new entrants.
RISC V is seeing a lot of interest and enthusiasm. As it matures, expect to see consolidation, a more realistic set of end-market goals, and probably a looming fight down the road over the control of the project.
Arm actually turned in a fairly strong set of results. Good growth. Backlog grew by $1 billion. But it is early days for this recent IPO and the company is still learning the Language of the Street.
We sat through 3 presentations listing a litany of woes that come with porting Android to RISC V. We came out more convinced than before that this will be a reality, and probably much sooner than we would have guessed.