Advanced Micro Devices Inc (AMD) — the peer cohort

Long reads

• Where to Invest in the AI Chip Constraint ChainDossier · $29 · 3 Mar 2026The market is paying a massive premium for AI chip design (Nvidia, AMD) while underpricing the physical supply chain that makes those chips real.
• Agentic Infrastructure Software: The Orchestration LayerDossier · $39 · 24 Feb 2026
• Who Owns the AI Chip Buildout?Dossier · $39 · 12 Feb 2026Nvidia/AMD/Broadcom = AI chip architecture.
• Calendar — The Funds’ New Year and the Midterms: a Fresh Start?Weekly Signal · 1 Nov 2026Tuesday: the midterm vote; AMD reports; three more windows — Amazon, Twilio, Intel — are graded.
• Memory chips — the basket that more than doubled in three months, then went sideways for seven weeks while every maker inside it posted record profitsChart Pick · 2 Oct 2026Morgan Stanley estimates that Nvidia (37%), Alphabet (36%) and AMD (about 12%) will take 85% of all such memory made in 2027, leaving about 15% for every other AI chip program.
• This company makes every AI chip that matters and 73% of the world’s outsourced chips — sales are up 53% in a month, and the stock is coiled in a triangle whose apex is this weekChart Pick · 11 Sept 2026This company is the factory behind Nvidia, Apple, AMD, Broadcom and MediaTek: 73% of the pure-foundry market, more than nine-tenths of the leading edge, a 2-nanometre node in volume that no one else can sell at scale, and advanced…
• Two and a half months of lower highs, then a second low that held above the first — and on Friday the oscillator turned.Chart Pick · 4 Sept 2026All ten of the fund’s largest holdings are constituents of the Rubin Build-Out 100, our index of companies monetising the physical scarcity of AI compute: Nvidia, Broadcom, AMD and Qualcomm in our S2 accelerator cohort, Marvell and Astera…
• Situational Awareness — Crushed While CorrectReport · 2 Aug 2026The fund evidently distinguished between first-wave names it considered finished (Nvidia, ASML, Broadcom, AMD, Oracle, the SMH complex — puts without meaningful offsetting calls) and constraint-chain names caught in first-wave wrappers…

101 and glossary

• AI Barbell Strategy: Long Infrastructure, Short Disrupted Incumbents101TSMC fabricates chips for NVIDIA, AMD, Google, and Amazon.
• ChipletGlossaryAMD pioneered the approach commercially, and Intel and increasingly NVIDIA have adopted it for high-end products.
• Cloudflare as Agentic Toll Booth: The Infrastructure Tax on Every Agent101The Relative Strength Signal While NVIDIA, AMD, and semiconductor names corrected 15-25% in the Q1 2026 rotation, Cloudflare held firm and outperformed the Nasdaq.
• CoWoS (Chip-on-Wafer-on-Substrate)GlossaryTSMC has been aggressively expanding CoWoS capacity, but demand from NVIDIA, AMD, and Broadcom continues to outstrip supply.
• Foundry Economics: Why TSMC Captures the Scarcity Premium101It manufactures the vast majority of advanced-node chips for NVIDIA, AMD, Broadcom, Apple, and the entire AI ecosystem.
• FPGA (Field-Programmable Gate Array)GlossaryAMD (via Xilinx) and Intel (via Altera) are the principal suppliers.
• ROCmGlossaryAMD's open-source GPU compute platform; the principal alternative to CUDA, but lagging in ecosystem maturity.
• Seasonal WindowGlossaryWhy it matters for the AI trade In September 2026 the fund Situational Awareness was reported to have bought calls on AMD, Bloom Energy, CoreWeave, SK Hynix, SanDisk and a memory ETF in the first days of the month — the thesis…

Dailies

• AI Sell-Off — What Monday RepairedDaily Pulse · 10 Nov 2026AMD is back above it as well, after an analyst upgrade.
• AI Trade — Korea Jumps 4.4%, SoftBank Soars 14% After Wall Street's Best Day Since AprilMorning 10 · 10 Nov 2026The S&P 500 gained 2.35% on Monday and chip stocks 7.5%, with AMD up 13% and Nvidia down 4.3% as its board investigates its chief executive.
• Inflation — Prices Rise 0.4%, the 10-Year Yield Hits 5% and Nvidia Slides Another 6%Midday 10 · 10 Nov 2026Nvidia falls another 6.5% to 167.08, and the chip fund SOXX, up 2.0% early, is now down 1.9%; AMD and Broadcom hold small gains.
• Chips — Up 6% Without Nvidia: AMD Jumps 11%, Broadcom 8%, Nvidia Slides 6%Midday 10 · 9 Nov 2026The chip fund SOXX is up 6.3% and AMD 10.9%, while Nvidia falls 6.3% as its board reviews its chief executive.
• Nvidia — Down 5% as Its Suppliers RiseDaily Pulse · 9 Nov 2026AMD traded 3.3% higher and the chip ETF 0.2%.
• AI Builders — Chips Bounce 4%, AMD Jumps 10% and IREN 20% After a Strong Jobs ReportMidday 10 · 6 Nov 2026AMD rises 9.8% to 444.21 from Thursday’s close of 404.40.
• AI Trade — Kospi Halted, Nikkei Enters a Bear Market After US Chip Stocks Lose 12%Morning 10 · 6 Nov 2026The chip index SOX fell 12.25%, Micron and AMD 17%, Nvidia 9.3%.
• Usage Software — Cloudflare Jumps 19%Daily Pulse · 6 Nov 2026Micron traded 9.4% higher, AMD 8.3%, Broadcom 5.0% and Nvidia 4.9%, after falls of 9% to 17% on Thursday.