Taiwan Semiconductor reported September net revenue of roughly NT$511.9 billion, up 54.6% year over year, bringing Q3 revenue to about NT$1.49 trillion (~$46.7 billion) and beating the NT$1.46 trillion consensus. That's a quarterly jump of roughly 51% and a fresh record, with January-through-September revenue up 41.1%. TSM shares fell 2.1% on Wednesday ahead of the print, and Barclays had just lifted its target to $665 from $650 with an Overweight rating.
September FOMC minutes showed most participants think another rate increase is likely appropriate by year end, and notably flagged that the AI buildout "could cause aggregate demand to outpace aggregate supply." The 10-year Treasury yield pushed to 5.365%, its highest since April 2002, and the 30-year touched 5.73%. The S&P 500 closed down 0.22% at 7,801.77 and the Nasdaq down 0.22% at 27,538.69, both retreating from Tuesday's records; traders still price only about 17% odds of an October hike.
SpaceX is in preliminary talks for roughly $40 billion in financing — about $10 billion in bank loans plus $30 billion in investment-grade debt — to fund a massive Nvidia GPU order, with Apollo Global expected to lead and Pimco among the lenders. The GPUs would reportedly serve as collateral, and the deal is expected to close in 2027. It landed as renewed worries about circular AI financing pressured chip names.
AMD's CEO said demand for AI and compute will stay elevated for years and the company will substantially increase supply again in 2027, working with Acer, ASUS, Foxconn and Quanta on capacity. Shares rose about 2.8% on the comments; EPYC Venice is reportedly sold out through 2027. Citigroup lifted its target to $800 from $575 and Mizuho to $705 from $580 — AMD is up roughly 200% in 2026 and crossed a $1 trillion market cap in September.
Nvidia's board authorized an additional $150 billion for repurchases, taking total remaining authorization to about $235 billion after roughly $20 billion of buybacks last quarter. Jensen Huang said the company has now completed more than $140 billion in deals and investments spanning robotics, autonomous driving and local models, including a $10.5 billion credit guarantee — though it lost OpenRouter to Stripe's $8 billion bid. NVDA slipped under 1% from its record Wednesday and was down about 1% in Thursday premarket, with the stock grinding toward a $6 trillion valuation.
Anthropic has pushed its IPO marketing week to begin November 9, aiming to trade before Thanksgiving at a valuation investors peg as high as $2 trillion — roughly double the $965 billion mark set in May — potentially raising $100 billion-plus. The 261-page prospectus discloses $518 billion in planned cloud and infrastructure spending, a 2025 net loss of $42 billion on revenue up twelvefold to about $4.6 billion, and 80 pages of risk factors. Separately it shipped Claude Haiku 5.5 and put Claude inside Google Docs, Sheets and Slides. Not yet publicly traded.
Applied Digital reported fiscal Q1 2027 revenue of $341.9 million versus about $111 million expected, up 322% year over year, with a loss of one cent against a 27-cent consensus loss and adjusted EBITDA of $64.4 million versus roughly $0.5 million a year ago. The stock fell 6.04% to $23.81 during the regular session on AI data-center financing jitters, then recovered roughly 4% to about $24.79 after hours. The company also closed a $1.59 billion offering of 7% senior secured notes due 2031.
Micron agreed to pay $600 million — $30 million per quarter over five years — for a license to Netlist's patent portfolio including high-bandwidth memory, resolving a 2024 verdict of $445 million it had been appealing. Separately, union members at Micron's Taoyuan, Taiwan operations authorized strike action over a bonus and profit-sharing dispute. Shares trade near $1,088 after a record quarter of $33.42 EPS and $54.23 billion in revenue, with the average target across 40 brokerages around $1,473.
IonQ fell 4.50%, Rigetti dropped 3.82% and D-Wave slid 3.61% Wednesday as the surge in Treasury yields hit long-duration, speculative tech. IonQ did advance to the final stage of DARPA's Quantum Benchmarking Initiative on the same day. IonQ sits near $43.33, down about 3.5% year to date, against an average target of roughly $66.63; Rigetti is near $15.17, down about 31.5% YTD.
Cantor Fitzgerald raised its Marvell Technology target to $350 from $330 while keeping a Neutral rating on Wednesday. On Thursday, Citigroup cut NXP Semiconductors to Neutral from Buy and slashed its target to $260 from $370 — a stark reminder that analog and auto chips are not riding the same wave as AI accelerators. William Blair also initiated Lattice Semiconductor at Outperform earlier in the week.
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