Somebody needs to reignite excitement in the software ecosystem for phones. The semis vendors have an opportunity to rejuvenate the industry, but the changes it would require for their organizations likely means someone else will capture the opportunity.
Apple has signed up to keep using Qualcomm’s modem. We would never say ‘We told you so’, but this development does not come entirely as a surprise. Building modems is hard.
Arm now has a roadshow video which provides insight into the company’s growth plan. It also has a new target valuation. At $52 billion that remains challenging, but at least we now have an outline of how the company plans to grow.
Did Huawei and SMIC break the laws of physics? Or are many of the online claims about Kirin 9000 over-exaggerated to serve some other purpose. We think it is unlikely that this new chip really changes anything.
Arm’s IPO filing – the gift that keeps giving – highlights so far: IPO proceeds go entirely to Softbank; a close look at ARM’s end market TAM by segment, and a valuation for Ampere.
Qualcomm’s earnings call did not go very well – continued cyclicality, weak end demand and the looming threat of losing Apple. Most critically, they are still working on an answer to the critical question “How will Qualcomm make money in AI?”
Oppo is has largely given up designing its own chips, but they faced a very specific set of challenges which do not apply to many of the others looking to roll their own semis.
AI may wipe out humanity someday, but right now it is doing wonders for semis stocks.
Qualcomm has a robust AI offering, and the market for AI Inference at the Edge is huge. But Qualcomm and every other company not named Nvidia, will struggle to ride this wave to AI riches.
Apple has a history of relegating its homegrown chips to the Apple Watch. Is that the fate of their future cellular modem?