Leading and winning are two very different things.
Mr Altman sounds more like the leader of a religion than a company CEO.
Power constraints play to Arm’s advantage.
Data centre is the elephant the market is ignoring.
AMD Q3 25: Market timing Ouster Q3 25: Narrative in charge.
Microsoft gets a licence for less than 1% of what the region needs in 2026 alone
No one cares until it is too late
Still not much AI going on. Amazon Q3 25 – Still behind. Apple FQ4 25 – Short-term bounce
Spending on AI grabs all the attention from this mixed bag Microsoft FQ1 26 – Spitting distance to AWS. Meta Platforms Q3 25 – Other People’s Money Alphabet Q3 25 – More Justification for spending. Take Home Message – Azure could take leadership.
Richard is founder, owner of research company, Radio Free Mobile. He has 16 years of experience working in sell side equity research. During his 11 year tenure at Nomura Securities, he focused on the equity coverage of the Global Technology sector.
CoreWeave & Intel – Have and Have Not
CoreWeave Q3 2025 – Have. Intel – Have not.