ASML Can't Build Machines Fast Enough: The AI Chip Boom Just Hit a Supply Wall
ASML just posted a record €11.7 billion quarter, but the real headline is what it said about the future: even with 30% more capacity planned, it can't build enough chipmaking machines to meet demand in 2027 and 2028. Customers are already asking about 2030. Here's why the AI trade's bottleneck is shifting from money to machines, and what to watch as TSMC reports next.
Nvidia's $150 Billion Buyback Just Made History: Why the Pace of Spending Matters More Than the Headline
Nvidia just approved the biggest buyback increase ever — $150 billion on top of its existing program, for a total of $235 billion. But a buyback authorization is permission, not spending. To use it all by fiscal 2028, Nvidia would have to roughly double its record repurchase pace. Here's the math, the 3 scenarios, and the numbers that will decide whether this is a real capital-return machine or just a very large permission slip.