2026.09.14
The Glass Ceiling Of AI Development - Security, Social and Political Acceptance Matter More Than AI Technology and Hardware
► The market has rarely factored security, social and political-regulatory constraints into forecasts for hardware-demand growth
► This challenges the assumption that demand for AI semiconductors will rise indefinitely.A sharp reset in market expectations could trigger a de-rating of semiconductor companies
► A slowdown in semiconductor suppliers’ cash inflows would translate into stronger free cash flow for hyperscalers
2026.09.15
Bond Supply Shock: Where Is the Safe Haven?
Stronger-than-expected U.S. nonfarm payrolls highlighted the resilience of the labor market and broader economy. However, persistent inflation pressures have reinforced expectations that the Fed could resume rate hikes as early as...