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cover of episode The Small AI-Chip Maker That’s Now More Valuable Than Intel

The Small AI-Chip Maker That’s Now More Valuable Than Intel

2024/12/10
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WSJ Tech News Briefing

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Belle Lynn
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Dan Gallagher
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Telus Demos
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Telus Demos:Robinhood转向发展桌面用户群,旨在吸引那些进行更活跃和专业交易的零售投资者。他们认为,这类投资者更倾向于使用桌面电脑进行交易,因此推出新的桌面平台Legend.com以满足他们的需求。这与Robinhood以往专注于移动端交易的策略有所不同,也反映了其对未来投资者行为的判断。 Robinhood此举并非完全放弃移动端,而是为了拓展用户群体和盈利模式。移动端交易易于上手,但利润相对较低,而桌面端交易则能吸引更活跃的交易者,带来更高的交易量和利润。 Robinhood的策略也与其他券商有所不同,它更专注于吸引活跃交易者,而不是依赖于更稳定的银行业务收入,这体现了其对市场和投资者行为的独特理解。 Belle Lynn:Marvell是一家AI芯片制造商,其市值近期超过了英特尔。Marvell的成功主要源于其与科技巨头(如亚马逊和谷歌)的合作,这些公司需要Marvell的芯片和硬件来支持其数据中心和AI业务。Marvell的芯片在帮助这些科技巨头定制化设计其数据中心芯片方面发挥着关键作用。 Dan Gallagher:Marvell是一家芯片设计公司,长期以来一直涉足各种芯片领域,包括电视机顶盒、汽车和数据中心。然而,其核心竞争力在于帮助大型科技公司定制设计数据中心芯片,这使得这些公司能够更有效率地运行其AI任务。 Marvell的股价上涨与亚马逊的年度用户大会有关,亚马逊在大会上宣布了新的芯片系列,而Marvell是其合作伙伴。此外,Marvell自身的数据中心业务也实现了强劲增长,这推动了其整体业绩的提升。 Marvell与英特尔形成对比,尽管英特尔的营收规模远大于Marvell,但Marvell的市值已超过英特尔,这反映了英特尔当前的困境和Marvell的快速增长。Marvell的CEO在业绩发布期间否认了转投英特尔的传闻,这突显了其在公司发展中的重要作用。 Marvell的未来发展面临着人工智能支出下降的风险,因为这是一个周期性行业,大型科技公司可能会放慢支出速度。

Deep Dive

Key Insights

Why is Robinhood focusing on desktop users?

Robinhood aims to attract active traders who rely heavily on desktop platforms for their trading activities, such as chart analysis and research. The company launched Legend.com to compete with professional trading tools.

What is Marvell's role in the tech industry?

Marvell designs chips for various applications, including data centers, AI, autos, and TV set-top boxes. It also helps tech giants like Google and Amazon customize chips for specific tasks, enhancing efficiency in their data centers.

Why has Marvell's market cap surpassed Intel's?

Marvell's market cap briefly exceeded Intel's due to its strong growth in the data center and AI chip sectors, while Intel faces challenges with declining market share and struggling segments like PCs.

What was significant about Marvell's recent earnings report?

Marvell's earnings showed substantial growth in its data center business, reaching a tipping point where it now drives overall company growth, despite weaker performance in other legacy areas.

What risks does Marvell face in its business?

Marvell, like other chipmakers, is vulnerable to cyclical downturns in AI spending. Big tech companies may slow down spending to manage their inventory, and if AI demand doesn't materialize with end customers, it could impact chip sales.

Shownotes Transcript

Marvell’s role in helping tech titans create their own data center chips has boosted its revenue and valuation, but you may not have heard of the company. WSJ columnist Dan Gallagher) joins host Belle Lin to talk about how the tiny chip maker’s market capitalization briefly catapulted above $100 billion). Plus, a look at Robinhood’s hot new tech bet): the desktop computer.

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