Chips Have an Earnings Season of Their Own
It’s impossible to argue with a showing this strong.
A chip tray with Google's newest version 8 TPU chips.
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Chokepoints matter. For the present, the stranglehold that chip manufacturers have over the development of artificial intelligence is having a far greater impact on markets than even Iran’s control over the vital oil bottleneck of the Strait of Hormuz. That in turn has driven a boom in earnings that’s truly unprecedented.