Qualcomm IncorporatedQCOM
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Handset sales within QCT segment projected to fall 21% YoY, indicating weak smartphone demand.
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Debate Over Slowing AI Development Takes Center Stage in US-China Talks, Posing Market Risk
The direction of the debate over slowing down artificial intelligence development could throw cold water on the AI boom that has been driving US stock prices higher. When Anthropic CEO Dario Amodei called in mid-September for slowing AI development, markets reacted sharply, and shares of AI and semiconductor-related companies briefly plunged in the United States, heightening fears that a slower pace of cutting-edge model development would make it hard to recoup massive investments. Adrian, head of the IMF's Monetary and Capital Markets Department, pointed out that when it comes to AI investment, "the biggest potential risk is that future profitability falls short of expectations," signaling a view that while AI investment remains solid for now, the AI boom carries the risk of going into reverse. Meanwhile, both the United States and China regard AI as a source of national power and show no sign of easing their development efforts. US President Donald Trump argued that "a pathological conspiracy against AI and data centers is underway, and only China is happy about it," while China's Foreign Ministry pushed back against the narrative linking the slowdown argument to wariness toward China, saying it "only hinders the creation of international rules." As the tug-of-war between the development race and safety measures intensifies, a series of talks and meetings between the United States and China as they vie for supremacy are likely to shape the future of the AI boom.
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Micron Unveils World's First 512GB DDR5 RDIMM for Servers
Micron Technology announced on September 15 the successful demonstration of a 512GB DDR5 RDIMM memory module for servers, which the company says is the first of its kind in the world. The module reaches speeds of up to 9,200 MT/s and can enable as much as 12TB of DDR5 DRAM in a 24-slot dual-socket server. Micron said the 512GB module consumes 16 watts, more than 60% less power than the 44.2 watts consumed by four 128GB modules providing the same capacity, and delivers up to 1.4 times higher performance than 256GB DDR5 configurations in certain analytics workloads. AMD and Intel are validating the technology for next-generation server platforms, though volume production is not expected until the back half of 2027, limiting its near-term impact on Micron's earnings. Separately, Micron said in June that its 16 strategic customer agreements were expected to provide $22 billion in cash deposits and related financial commitments, alongside $100 billion in remaining performance obligations from agreements already signed.
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Huang Says Nvidia Chip Units Will Double, Clashing With 70% Revenue Guidance
Jensen Huang said Nvidia expects to sell twice as many chips over the coming year, a forecast that runs ahead of the company's own written guidance. Speaking to reporters at an artificial intelligence gathering convened by King Charles III in Scotland, Huang gave the unit figure, while Nvidia has guided to about 70% revenue growth for the fiscal year ending in January 2028, or roughly $673 billion. If units double while revenue grows 70%, average revenue per chip falls by roughly 15%. Nvidia reported second-quarter revenue of $96.2 billion, up 106% from a year earlier, with data center sales of $89.0 billion and a 75.0% gross margin, and guided third-quarter revenue to $108 billion, plus or minus 2%. The company has said gross margin will decline and bottom out in the fourth quarter of fiscal 2027 at 71% to 72%, partly because of memory prices, a trough that arrives before the unit doubling does. At the same event, King Charles III told executives from Nvidia, OpenAI, Google DeepMind, and Anthropic that the industry needs sufficient means of control before it is too late, and Huang argued that safety belongs to individual companies rather than a coordinated pause.