$Alphabet(GOOGL.US) $Alphabet - C(GOOG.US) delivered a solid Q2 print. Cloud revenue growth and a still-healthy expansion in backlog are key proof that AI spend is being put to work.

Global markets left investors stunned last week as rumors and speculation ran rampant amid the sell-off.

After $Meta Platforms(META.US) began weighing compute leasing, it stoked worries that the compute supply chain may be peaking. While the market debated whether this was a stopgap or a long-term strategy, Meta answered with three concrete moves: it is serious about the compute biz.

Expanding data centers is the most straightforward prep. Mass-producing in-house ASICs aims to cut cost and lift ROI.

The newly launched LLM, Muse Spark 1.1, is the true upside surprise in Dolphin Research's view. These three changes will likely push near-term Capex higher...

Memory is one of the hottest—and most crowded—plays in global tech right now. AI has ignited HBM, DRAM, and NAND all at once, sending shares of SK hynix, Samsung, and Micron up several times over in six months.

$Broadcom(AVGO.US) shares have trended lower recently, pressured by chatter around 'Meta selling compute capacity' and by key downstream customers exploring alternate supply options. The former looks like a market-beta overhang, while the latter stokes company-specific alpha concerns.

Initially, investor interest in AVGO centered on its potential to counterbalance Nvidia's ecosystem. Now Broadcom is facing similar questions itself...

Last week, Bloomberg reported that $Meta Platforms(META.US) is building a cloud infra biz and plans to lease compute externally.

Against a persistently weak tape, Jun was a standout for Zhipu. News just before Jun about its Stock Connect inclusion sparked heavy flows and sharp intraday swings.

Dolphin Research's earlier concerns unfortunately materialized, with May retail sales weaker than Apr. YoY growth in total retail sales fell into negative territory at -0.6%, the first decline in the post-pandemic era.

Full-stack AI bellwether $Alphabet(GOOGL.US) has seen some recent softness in its share price.

Over the past year, Google raised over $85bn via bond offerings across six markets. This new raise is the largest single round to date.

As for use of proceeds, management outlined a broad plan. The 80bn will mainly go to scaling AI infrastructure, concurrently buying call options to partially hedge future dilution from convertible preferreds, and covering taxes due when employee options vest...

As Dolphin Research had warned, consumption pressure in Q2 is significant, and April data confirmed a clear slowdown. Retail sales came in notably weaker.