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Worth it or not hinges on how long the InP shortage lasts. Duration is the key driver.

On Oct 26, $Anthropic.US finally filed its prospectus. The opening page reads like a study in contrasts. Dolphin Research wrote in Jan in 'Deep Dive on Minimax and Zhipu: Large Models...'

On one hand, Q2 revenue was $11.56 bn (+14x YoY). It posted GAAP operating profit for the first time.

On the other hand, over the past ten months it signed compute contracts totaling nearly $1 tn. That equals 22x its annualized revenue.

Below is Dolphin Research's Trans of the NVIDIA GTC Europe (Oct 21, 2026; Berlin) CEO keynote. This session was a keynote with no Q&A.

Last Fri., DeepSeek pushed a 4.1 update; while only a minor point release, the performance uplift is clear. Coupled with same-day headlines that DS plans to use Ascend for its next-gen pretraining and a ban issued by the U.S. Dept. of Homeland Security, the recent DS newsflow has meaningful implications for the sector and the supply chain.

$Z.AI(02513.HK) $MINIMAX-W(00100.HK) core takeaways compiled. Core takeaways:

1. How is the model? V4.1-Flash-1017 is not a 'China beats Opus' narrative...

$长鑫科技.SH announced major breakthroughs in DRAM devices, 4F² cell architecture, and hybrid bonding. The news spooked shares of the three leading overseas memory makers, which sold off across the board.

$CXMT(688825.SH) announced major breakthroughs in DRAM devices, 4F² cell architecture and hybrid bonding. Shares of the three leading overseas memory makers slumped on the headline.What the market fea...

Marvell hosted its Investor Day in New York last night (ET Oct 6, 2026), led by Chairman & CEO Matt Murphy and the executive team. This marked the first comprehensive update to its long-term outlook since the company postponed its 2025 Investor Day, and the first time it set targets for FY2031. Earlier, $Marvell Tech(MRVL.US) signed a new collaboration with Alphabet on custom ASICs, offering warrants to win orders; cf. 'Marvell: teaming with Alphabet with sweeteners — can it pry share from Broadcom?'

On Muse's impact on CPUs, there is a different take circulating on X: 'In a base case, serving 100 mn DAUs requires ~1 GW of power, and only ~0.1 GW comes from the CPU/VM layer.' Depending on how many inference-equivalent model calls each Muse DAU generates per day, 3–4 GW makes complete sense. ...

Meta launched Muse on Sep. 8. Each Muse runs on a dedicated virtual machine, the Muse Secure VM, which stores both the agent and user data. Long-running jobs keep executing even after the app is closed, then re-engage the user when something changes or an approval is needed.

$Meta Platforms(META.US) Since Muse's US launch on Sept 8, it has been live for over two weeks. Dolphin Research shared an initial quick take, but as user reviews piled up, interest stayed high in recent days. As of today, Muse still ranks No.1 on the iOS US free download chart.