TPUs Or GPUs: Is Nvidia’s Moat Eroding?
2025-11-26
Markets have priced Nvidia as the clear winner in AI chip production. To some, its moat appears impenetrable. Google’s developments suggest there may be some competition. Google has been training and serving its AI platform with in-house tensor processing units (TPUs). These chips are more cost-effective and power-efficient than Nvidia’s GPUs. By using TPUs in …
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AMD Surges: Nvidia Competition Heats Up
2025-10-07
Advanced Micro Devices (AMD) stock opened up by nearly 35% on Monday morning, following reports that OpenAI is acquiring a 10% stake in AMD. As part of the agreement, AMD will supply OpenAI with 6 gigawatts of AMD’s Instinct GPUs.
Corporate Prices Lead Consumer Prices
2025-10-06
The following discussion is courtesy of Paul Mortimer Lee, as provided by Albert Edwards of Societe Generale. Paul makes an interesting case that PCE prices, the Fed’s primary gauge of inflation, are likely to decline. Supporting his view is a relatively wide and growing gap between the prices witnessed by the non-financial corporate business sector, …
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Promised Recession…So Where Is It?
2025-10-03
Over the past three years, the economic conversation has been a “promised recession.” If you read the headlines, tracked economist surveys, or even listened to Wall Street strategists, you would have assumed a downturn was imminent. Many investors, bloggers, and YouTubers have had a “parade of horribles” promising a recession is just on the horizon.The logic was …
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Slowdown Signals: Are Leading Indicators Flashing Red?
2025-09-26
Lately, there’s been a growing sense of confidence among investors that the U.S. economy has dodged the proverbial bullet. Despite a historic rate-hiking cycle by the Federal Reserve, two years of stubborn inflation, and signs of strain in global trade, the dominant Wall Street narrative is now a curious mix of “soft landing,” “no landing,” …
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