➀ Arm's Total Design initiative has doubled in size within a year; ➁ Samsung Foundry, ADTechnology, and Rebellions collaborate on a 2nm AI processor; ➂ The AI CPU chiplet platform is designed for AI/ML training, cloud computing, and high-performance computing workloads.

1. After its recent decline, Snowflake is upgraded to a buy rating with a $154 price target, representing a 35% upside from current levels. 2. SNOW is currently trading at an opportune valuation of less than 8x forward revenue, while many software peers with similar growth profiles are still trading at a low/mid-teens multiple. 3. Revenue growth remains strong in the high-20s, and the company has seen promising additions of new clients and revenue retention rates.

1. Google faces significant challenges, including antitrust lawsuits and concerns about the relevance of search in the age of AI; 2. Despite these challenges, Google's diverse ecosystem and substantial R&D investments make it resilient; 3. Google Search remains dominant, YouTube has a vast content library and ad subscription potential, and Google Cloud is growing; 4. The forward R&D + EBIT yield of 10.4% and strategic positioning in AI and cloud support a 'Strong Buy' rating.

1. Maintain a buy rating for Lumentum Holdings due to its positive growth potential and recent developments; 2. LITE's 4Q24 performance and 1Q25 guidance suggest the first y/y growth after six consecutive quarters of decline; 3. Key developments include a new 800G transceiver deal with a major cloud provider and expanding EML manufacturing capacity to meet AI-driven demand.

1. Amazon's AWS segment is driving significant growth and profitability with a 35% operating margin; 2. The increasing revenue mix from AWS is boosting overall business profitability; 3. The marketplace business remains resilient with the international segment turning profitable.

➀ Intel has secured AWS as a customer for its 18A process; ➁ The collaboration involves co-investment in custom chip designs; ➂ Intel will produce an AI fabric chip for AWS and a custom Xeon 6 chip on Intel 3.

➀ Oracle Cloud Infrastructure (OCI) offers customers access to the largest AI supercomputer in the cloud, with up to 131,072 NVIDIA Blackwell GPUs and 2.4 zettaFLOPS peak performance; ➁ OCI Superclusters can scale up to 16,384 GPUs with up to 65 ExaFLOPS of performance for H100 GPUs, and 65,536 GPUs with up to 260 ExaFLOPS for H200 GPUs; ➂ NVIDIA GB200 NVL72 liquid-cooled instances enable 72 Blackwell GPUs to communicate at a bandwidth of 129.6 TB/s.

1. Alibaba's Q1 earnings showed mixed results with 4% revenue growth and a 27% decrease in bottom line; 2. The company's strong cash position and low debt are positives; 3. Ali Cloud is gaining market share domestically and investing heavily to compete globally; 4. AI and international expansion efforts are promising but still unprofitable; 5. Despite risks, Alibaba's strong balance sheet and potential for growth make it a strong buy.

1. Microsoft's initial lead in the AI race is being challenged by open-source models and shifting customer preferences; 2. Open-source models like Meta's Llama are gaining popularity and threatening Microsoft Azure's growth; 3. The rise of on-premises AI deployment, facilitated by companies like Nvidia, is undermining the need for cloud migration and further impacting Microsoft's AI edge.

➀ Tesla introduces TTPoE for Lossy Fabric, combining iWARP TCP congestion control and RoCEv1 layer-2 forwarding. ➁ Azure Maia 100 targets OpenAI's inference business with high-density deployment and standard Ethernet integration. ➂ Meta MTIA focuses on search, advertising, and promotion with a dense model approach and cost-effective LPDDR5 usage.

1. Alibaba's strong free cash flow and low profit multiple of 8.3x make it an undervalued investment with a positive risk/reward profile. 2. Despite slowing sales growth in 1Q25, BABA's cloud segment and free cash flow remain robust, supporting future share repurchases. 3. The stock's technical setup is bullish, with improving investor sentiment and potential for a breakout as retail spending in China recovers.

1. Microsoft's stock has appreciated by 28.3% in the past 10 months, close to the S&P 500's performance. 2. The company's increased CapEx is justified by strong demand for AI Azure and a proven management track record. 3. Despite improved margins and growth prospects, Microsoft is trading at similar multiples as last year, presenting an attractive valuation opportunity.

1. Amazon's advertising business reached over $50 billion in trailing twelve months revenue, potentially valuing this segment at close to $900 billion. 2. AWS revenue growth and margin expansion have significantly improved operating income. 3. Despite a slight revenue miss, Amazon's stock is trading at a forward PE ratio cheaper than peers, making it an attractive long-term investment.

1. Google is reengineering its cost base to expand operating margins while investing in AI and cloud technologies. 2. Google Cloud is gaining market share and integrating AI, with most top 100 customers using its generative AI solutions. 3. AI is a key growth driver for Google, with significant investments in AI infrastructure and generative AI features across products.

➀ Demand for CPUs has stabilized at Alibaba and Tencent clouds, while GPU demand is increasing. ➁ Alibaba Cloud reported 6% year-over-year revenue growth, attributing part of the growth to AI and GPU demand. ➂ Tencent's Business Services showed 'teens' growth, with GPU rentals booming but still modest compared to the US market. ➃ Lenovo's Infrastructure Solutions Group saw a 65% revenue increase, driven by AI and GPU demand, though profitability remains a challenge.

➀ Chinese companies are modifying NVIDIA GeForce RTX 40 series GPUs to increase VRAM for AI workloads, particularly for cloud computing providers. ➁ The GeForce RTX 4090D 48GB and RTX 4080 SUPER 32GB are being upgraded with custom PCBs to double their memory capacity. ➂ These modified GPUs are in high demand among cloud service providers, renting for as low as $0.03 per hour, reflecting the strong market need for AI computing power.

1. Microsoft reported a 15% YoY revenue growth in Q4 2024, driven by significant contributions from AI workloads. 2. Azure's growth was 30% YoY, with AI services and GitHub Copilot showing strong performance. 3. Despite promising long-term prospects, competitive challenges and high CAPEX may affect investor sentiment.

1. Amazon's stock dropped by about 25% due to mixed earnings results, presenting a buying opportunity. 2. AWS remains a strong growth engine, leading in the cloud market. 3. Analysts predict Amazon's stock to reach $220 within the next year, with significant growth potential.

1. Cisco Systems has shown negative returns over the past 1, 3, and 5 years despite the tech and AI hype. 2. The company has failed to capitalize on the AI revolution and the shift to cloud-based solutions. 3. Despite some positive aspects like strong balance sheet and dividend payments, Cisco's future growth in AI and cloud seems uncertain.

1. China's cloud market is expected to grow over 3 times in the next 3 years; 2. The market size was $117 billion last year, with a 35.5% year-on-year increase; 3. By 2027, it is projected to reach $400 billion, with public cloud accounting for 74% of total cloud spending last year.