J.P. Morgan

J.P. Morgan: SpaceX compute capacity expected to reach 99GW by 2031, with 78GW in orbit, up from just 0.8GW in 2025. These numbers are hard to imagine... $SPCX

J.P. Morgan: We expect A14 to go into mass production in 1H28, which could generate some revenue in 2H28. We believe the tight leading edge wafer supply will extend into 2027-208 and expect TSMC to continue its accelerated capacity build…

J.P. Morgan: AI CapEx > 2026 Capex Forecast: Growth estimate raised from +80% to +85% YoY. This adds over +$270B in incremental spending (a new record step-up, beating 2025). > 2027 Capex Forecast: Growth estimate raised from +50% to +70%…

JPMorgan expects $TSM to keep growing its CoWoS packaging capacity. - 130,000 wafers a month by the end of 2026. - 260,000 by the end of 2027. - 320,000 by the end of 2028. $INTC says its EMIB packaging is 30% to 40% cheaper. But JPMorgan…

J.P. Morgan: CoreWeave needs its active data center power to reach 4-5x annual additions to generate positive free cash flow, which is only expected in 2030E at a 4.5x ratio. $CRWV

J.P. Morgan: accumulated HBM shortage reaching 23 weeks by CY28 and industry HBM TAM at ~$160B/~$280B in CY27/28 (from ~$64B in CY26). $DRAM $EWY $MU $SKHY

J.P. Morgan is forecasting a ~300GW shortfall in global AI compute by 2031E. $NVDA $AMD $GOOGL $MSFT $META $AVGO $AMZN https://t.co/iZrvcU2svc https://t.co/yzzhhhEN7G

J.P. Morgan: Recent investor discussion has been focused on delays in TPUv8t ramp, v9 tapeout and uncertainty on v10 allocation. Based on our checks, MediaTek's TPUv8t Zebrafish continues to ramp on schedule at TSMC, and remains on track…

Expert Takeaways: Inference > GPU Rental Rates Up ~20%: Driven by HBM supply constraints. Neo-cloud providers are passing hardware cost increases straight to tenants via shorter 1–3 year contracts rather than taking margin cuts. > HBM4…

J.P. Morgan: Soitec is projected to generate €1,042mn in Edge & Cloud AI revenue in FY29, topping Bloomberg consensus of €754mn by 38%. Expect Soitec's market share moderating to 80% by FY30 as Global Wafers adds secondary supply.

J.P. Morgan: our Tech research team highlights that the traditional LLM infrastructure has a GPU-heavy architecture, with CPU/GPU ratios of 1:4 to 1:8. For Agentic AI, that ratio shifts towards 1:1, and could even become CPU- heavier as…

China is about to unleash a 60x AI demand shock and it could create an entirely new group of stock market winners. JP Morgan expects China’s inference-token consumption to grow roughly 60-fold between 2026 and 2030. The chart shows demand…

Micron has already committed more than 75% of planned fiscal 2027 output, and most customer talks have moved to 2028 volumes. DDR5 rose over 100% in 2026; JPMorgan puts DRAM up more than 400% from early 2024 to end-2026. Scarcity is now…

I had the chance to check out J.P. Morgan's latest Memory Market Update and it only made me more bullish on $MU and $SNDK. Memory bears are running out of years to be right. Micron now sees supply tighter in 2027 and 2028 than in 2026,…

J.P. Morgan: CSP Capex expected to reach ~$1.7 trillion in 2028 🤣 That is a lot of money... $GOOGL $AMZN $META $MSFT $ORCL $SPCX https://t.co/QpnbRLcFz6

J.P. Morgan: DRAM expected to remain undersupplied through 2028 with continued ASP increase. $MU $DRAM $DISK $EWY

Breaking: Nscale just filed to IPO under $NSCL Backed by Nvidia, the AI data center company plans to list on the NYSE with Microsoft as a major customer • +1,252% revenue growth to $140.6M in 2026 • $56.4B contracted backlog • $45B…

J.P. Morgan: We forecast industry DRAM blended pricing increasing ~250% in CY26 and ~30% in CY27; NAND pricing is forecast to grow ~250%/~25% in 2026/2027. $MU $DRAM $DISK $EWY $SNDK

Recommended reading for the weekend: 1. @damnang2 — Is the 2028 Memory Downcycle Real? 2. @AnthropicAI — Scenarios for our Economic Future 3. @BrookingsInst — Workforce policy for the age of AI 4. @Microsoft — What we’ve learned from…

J.P. Morgan: ASIC/XPU units expected to reach 55% of total units in 2028E, up from 32% in 2025. $AMD $NVDA $GOOGL $META $MSFT $AMZN $AVGO

J.P. Morgan has a GPU/ASIC shipment forecast of >25 million in 2028E, mostly dominated by ASICs. Up from ~10 million in 2025. $GOOG $AMD $NVDA $MSFT $META $AMZN https://t.co/aSpobzqW5N

J.P. Morgan: We model 45% AI chip shipment CAGR in 2025-28, with AI ASIC chip shipments growing at a CAGR of 60%, driven by strong AWS Trainium/Google TPU demand. $NVDA $GOOGL $AMD $MSFT $META $AMZN

J.P. Morgan: Nvidia's VR200 NVL72 BOM at ~$6.3 million, a 90% increase from GB200. NAND and HBM accounting for ~10% of the BOM. $NVDA

J.P. Morgan: AI memory % share of CSP capex to reach 49% in 2027E and 60% in 2028E, up from 31% in 2026. $MU $DRAM $EWY $DISK $SNDK

J.P. Morgan: We expect the memory shortage to persist for the next two years, worsening in 2027 (70–80% of demand fulfillment) before easing somewhat in 2028. $MU $DRAM $DISK $EWY $SNDK

J.P. Morgan: CSP revenue moving along with rising capex spend. $GOOGL $AMZN $META

J.P. Morgan: SK Hynix to sustain HBM market leadership, above 40% revenue share next year. HBM ASP forecasted to increase by 48% vs 35% previously in FY27. $SKHY $DRAM $MU $DISK $EWY

J.P. Morgan: we believe the memory cycle is still in the mid-cycle with positive ASP growth trajectory through Q4'28 and beyond. $MU $DRAM $DISK $EWY

A far more reasonable estimate from Goldman Sachs on Chinese AI chip shipments. 5.9 million in 2026, 21.2 million in 2028, and 39.2 million in 2030. Compared to J.P. Morgan with only 5 million by 2028. 2026E–2030E CAGR: ~60.5%

$CCXI 🤖 $AGLT @agilityrobotics J.P. Morgan just outlined the upcoming Humanoid robotics bottleneck Demand will be outweighing supply by a large margin Q4 2026 Should be interesting as Agility becomes the first public USA pure play…

They shut down Model S and Model X at Fremont so Optimus could take the line. JPMorgan walked that floor this month. Tesla is still on the 4-month conversion after S/X went dark in May. Target: ~1 million humanoids a year there. Then ~10…