Good morning. QQQs +1.5% after a slightly cooler CPI print - (0.2% m/m vs expects for 0.3% m/m) a much welcomed piece of good econ data. BTC +1.5%; China +25bps; Yields are +2-3bps.
J. Favuzza at Jefferies, as always, out with a good chart this morning:
That might be different given the big mo unwind we just saw, but fwiw…
Let’s get straight to it…
INTC/TSM: TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom, sources say
TSMC has pitched U.S. chip designers Nvidia Advanced Micro Devices and Broadcomabout taking stakes in a joint venture that would operate Intel's factories, according to four sources familiar with the matter.
Under the proposal, the Taiwanese chipmaking giant would run the operations of Intel's foundry division, which makes chips adapted for the needs of customers, but it would not own more than 50%, the sources said. Qualcomm
The details of the plan for TSMC to take no more than a 50% stake and its overtures to potential partners are being reported for the first time.
Any final deal - the value of which is unclear - would need approval from the Trump administration, which does not want Intel or its foundry division to be fully foreign-owned, the sources said
AMD: After investor meetings with CEO Lisa Su, JPM confirms ORCL Mi355x 30k cluster is only first tranche of multi-$B deal among other things
Keep reading with a 7-day free trial
Subscribe to TMT Breakout to keep reading this post and get 7 days of free access to the full post archives.