1. Celestica stock has underperformed the market since its peak in July 2024; 2. CLS is exposed to secular AI growth tailwinds; 3. CLS stock is dirt cheap and valued well below its sector median.

➀ Razer has introduced two new Basilisk V3 gaming mice: the Basilisk V3 Pro 35K, a customizable wireless ergonomic mouse, and the Basilisk V3 35K, its wired version; ➁ Both models feature significant QoL improvements and upgrades like the Razer Focus Pro 35K sensor and wireless charging; ➂ The Basilisk V3 Pro 35K offers up to 140 hours of battery life with HyperSpeed Wireless, while the Basilisk V3 35K is priced at £69.99/$69.99/€84.99.

➀ Meta's Orion AR Glasses were showcased at the Meta Connect developers conference, receiving positive feedback for their design and potential. ➁ Analyst Ben Thompson praised the notification flow, application pinning, and gaming capabilities of the Orion. ➂ Thompson believes Apple's next Vision Pro should focus on entertainment and be more like the Quest 3 or 3S. ➃ Apple has been working on AR glasses since at least 2015 and may introduce its own AR glasses around the same time as Meta's Orion, potentially leading the market.

➀ China's Semiconductor Association Chairman discusses the potential for a fully independent chip industry; ➁ A glimpse into the future through a global student technology competition and conversations with students at a leading Chinese tech university; ➂ Comments reflect a mix of optimism, support for Chinese innovation, and the belief that challenges will lead to growth.

➀ Toppan Photomask is rebranding to Tekscend Photomask; ➁ The change signals a commitment to technological innovation and growth; ➂ The new name reflects the company's role as a leader in the semiconductor photomask industry.

➀ Powerchip Semiconductor, the Taiwanese foundry, has abandoned its plan to build a fab in Japan in favor of constructing one in India. The company had previously entered into a partnership with SBI Holdings to build a 40k wpm fab in Sendai, Japan, starting with 40nm technology and moving to 28nm with volume production scheduled for 2027. The partnership has now been dissolved as Powerchip seeks to provide technology for a fab to be built in India by Tata. ➁ Last week, Indian Prime Minister Narendra Modi met with Natarajan Chandrasekaran, chairman of Tata, and Powerchip chairman Frank Huang, where PSMC expressed interest in expanding its presence in India. ➂ Powerchip and Tata have agreed to collaborate on a fab in Gujarat, India, with Tata providing the funding and Powerchip providing the process technology for PMICs and display drivers.

➀ Zowie has released new wireless versions of its FK, ZA, and S series gaming mice; ➁ The FK2-DW, ZA13-DW, and S2-DW models are designed for enhanced in-game performance; ➂ The mice feature advanced 4K receivers and ergonomic designs for precision and responsiveness.

➀ The author shares their personal experience with the limited edition transparent Ray-Ban Meta smart glasses; ➁ They praise the glasses for their stylish design and functionality, highlighting the transition lenses and Meta AI features; ➂ The article discusses the glasses' camera capabilities, comfort, and the overall impression of the product.

➀ A new approach to location tracking using Wi-Fi signals is discussed; ➁ SSID-based Wi-Fi locationing is highlighted as a precise method for indoor and urban areas; ➂ The technology's integration into modern devices and its applications in asset tracking and personnel monitoring are mentioned.

Hynix has started mass production of a 36GB 12-layer HBM3E memory, marking the largest capacity HBM to date. The company achieved this by stacking 12 layers of 3GB DRAM chips, making each chip 40% thinner than before and using TSV4 technology. The new product offers improved heat dissipation performance and stability compared to the previous generation, and is designed to excel in speed, capacity, and stability, crucial for AI memory.

➀ The spending on 300mm fab equipment is projected to grow by 4% to $99.3 billion in 2024 and further increase by 24% to $123.2 billion in 2025. ➁ China is expected to remain the top spender on 300mm equipment until 2027, investing over $100 billion. ➂ Foundry equipment spending is expected to reach about $230 billion between 2025 and 2027, driven by investments in sub-3nm nodes.

➀ This letter discusses the updates and activities of STH in Q3 2024, including the challenges and achievements in filming at the Paris 2024 Olympics, the upcoming server reviews, and the expansion of the STH team and channels. ➁ The author reflects on the growth of the STH YouTube channel and the introduction of the Axautik Group for more specialized content. ➂ The letter concludes with a call for team expansion and a reminder to subscribe to STH's newsletter and YouTube channel for more content.

➀ South Korean companies are investing 65 trillion won ($48.9 billion USD) in AI development by 2027; ➁ The goal is to compete with global leaders in AI; ➂ A national AI computing center will be established to drive AI transformation across industries and society.

➀ Huawei's next flagship SoC is expected to use a 5nm Kirin chip, potentially closing the gap with Apple and Qualcomm's 3nm process nodes; ➁ The Chinese government and SMIC are reportedly fully supporting the development of this new chip; ➂ Huawei's past success with the 5nm Kirin 9000 5G AP shows that the company can compete with the industry's leading manufacturers.

➀ Powerchip Semiconductor Manufacturing Corp. (PSMC) is withdrawing from plans to establish a chip plant in Japan due to financial constraints. ➁ PSMC has communicated its decision to SBI Holding, a Japanese financial services group. ➂ The agreement to build a facility in Miyagi prefecture, northeastern Japan, will be terminated.

1. Emerging market equities are showing signs of improvement with earnings revisions; 2. China's monetary policy and regulatory reforms could benefit shareholders; 3. Taiwan's semiconductor leadership and AI revolution present investment opportunities; 4. India's infrastructure and consumer spending could make it a manufacturing hub with growth potential.

➀ Academician Sun Ninghui criticizes Huawei's closed and monopolistic approach; ➁ Huawei's strategy is to concentrate resources to maximize technology and benefits; ➂ The risk of relying on a single company for technological breakthroughs and industry chain is significant; ➃ Huawei's consumer business was severely impacted during the U.S. sanctions; ➄ Open ecosystem and collaboration with more enterprises are needed for domestic technology development.

➀ Huawei Mate XT's exterior is made of glass fiber and leather, with a compact internal layout and interchangeable batteries; ➁ The phone features a unique 'Z' shaped hinge system for dual-track联动, allowing all three screens to display simultaneously; ➂ The internal components are densely packed, with most important chips being domestically produced; ➃ The repair process is challenging due to the complex layout; ➄ The phone's thermal design is compared favorably to the iPhone 16; ➅ The Mainboard layout is neat and tidy, with a cost-effective repair service at Huawei's after-sales center.

➀ Intel's stock tumbled and market value shrank after a disastrous second-quarter report; ➁ CEO Pat Gelsinger's cost-cutting measures include laying off employees, selling assets, and splitting the chip manufacturing division; ➂ Intel's IDM model and tick-tock production strategy failed to keep up with competitors like Samsung and TSMC; ➃ Intel missed opportunities in mobile chips, autonomous driving, and AI, despite its strong investment in research and development.

➀ The Fraunhofer Institutes IMS and FHR have qualified for the second competitive round of the Fraunhofer Society's performance centers with their work on 'Terahertz sensor technology'. The participation is associated with a 3 million Euro grant from January 1, 2025, to December 31, 2027. ➁ The need for bandwidth is the main driver for Terahertz (THz) technologies, as modern applications like cloud computing or artificial intelligence require ever higher data transmission rates. ➂ With the funding from the Fraunhofer Society, the two participating institutes can establish a center over the next three years that focuses on chip development and the transfer of all related manufacturing and evaluation steps to the finished MMIC.