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
2026.09.21
Super Central Bank Week, Stay Defensive!
The Fed raised rates by 25 bps in September to 3.75–4.00%. The latest dot plot signals room for another 25 bps hike in 2026, rates remaining unchanged in 2027, and gradual easing from 2028...