ForumMiningMaster

Wow, $WULF signs a $19B DC lease with Anthropic today.
Probably a very positive tailwind for the Neocloud/Colo sector.

I find it hard for any bears to defend against this humanoid bull case.

Kelper upgrades $XFAB to "Buy" citing:
- Melexis demand strengthening “week-after-week, day-after-day” (their lead customer).
- AI giving XFAB a structural growth leg with SiC, GaN, and photonics offsetting auto cyclicality.
- Scarce Western speciality foundries like $SILEX commanding higher multiples.
"X-Fab remains the cheapest specialty foundry peer on every multiple, trading at 4.8x 2027 EV/EBITDA versus a peer median of 14.5x"
I treat this as good signal for the core fundamentals improving like auto players.
But in terms of unpriced long term growth vectors, I'm personally looking at

Nomura’s report cites $AXTI and $IQE as the leading players.
Then regarding ASP updates:
- 2in InP substrate price hike 42-76%
- 3in InP substrates price hike 78%
- 2in EML Epiwafer price hike 50-75%
- 3in CW Epiwafer price hike ~40%+
- Prices lower domestically in China as expected.
Hyperscalers bottlenecking upstream photonics confirmation validation… on all fronts from pricing, demand, to supply shortages.
My personal expectation was that price hikes would keep going up like $SNDK given ramping optical demand.
We’ll see if this turns out right given another 2 years of the demand curve.

Came across an interesting report from SVRC Research called "State of Robotics 2026", published in April.
Which listed:
1. Figure AI
2. Agility Robotics $CCXI
3. Apptronik
4. $TSLA
5. Boston Dynamics
6. Physical Intelligence
7. 1X Technologies
8. $AMZN Robotics
9. Covariant
10. Skild AI
As the National Champions of the United States robotics program.
"The United States leads the world in where robotics is heading: Fundation models, OpenAI-style scaling laws applied to action, autonomous vehicles.
While losing the race on where robotics is shipping today."
Then it frames:
1. Rare Earth

Looks like there's a high power cylindrical cell / BBU cell shortage (aka: bottleneck):
- Samsung SDI supplies the cells to Simplo, which assembles them into BBUs for $META to $AMZN.
- As demand from data centers has increased, production of Samsung SDI's cylindrical cells has also risen sharply.
- Industry sources said Panasonic, Samsung are experiencing supply shortages for BBU cells.
So main beneficiaries imo look like:
- Samsung SDI (KRX: 006400) / Panasonic Energy as cleaneset winners
- Murata (6981) / this keeps showing up everywhere with MLCC and others lol
- LG Energy (KRX: 373220) /

Leaked Anthropic docs show plans to secure 1.4GW capacity from Australia, amounting to ~$21.6B.
Recently $IREN, $SHAZ, and other Neoclouds have been building sovereign DCs in Australia.
Guess like a lot of things are stating to make more sense connection wise?
(disclosure: no open positions in any of the above).

Nikkei - $JD E-Commerce Giant CEO warns "Robots Will Replace 700,000 Delivery Workers".
Per FT's earlier piece last month: The 700,000 delivery personnel working for the firm will be replaced by robots, highlighting how rapid automation has become a new threat to China's already severe job market.
Liu Qiangdong, revealed that the company has signed contracts with approximately 120 schools to retrain its delivery workers, enabling them to transition into new roles such as robot repair and maintenance...
"Beijing has started to track AI’s hit to jobs as a national priority."
This follows other

UDN Money report "殺翻光通訊後 SemiAnalysis 惹議 業界揭其劣跡 許多公司慘遭魔手":
- SemiAnalysis, released a report in June, questioning the timing of the launch of the CPO on the grounds of low yield and delay, which caused the photonics sector to collapse.
- The agency then partnered with Tema to launch a photonics ETF.
- The shares held in the ETF under the trading code LAZR happened to be the photonics stocks that were mentioned negatively in the report
$HIMX and $LITE, which were specifically targeted negatively in their article "Powered Down, Lights Off", have been bought in Semianalysis and Tema's new ETF a

TIL floating DC and ocean compute exists?
Apparently it’s free cooling + optimal for places in tight geography…
It’s going to be wild taking a cruise ship, and passing by a bunch of $NBIS or Samsung floating AI DCs one day.
If this ever becomes a thing like orbital compute?

Just some public market read through from Chinese private VC markets:
Institutions are pouring funds into physical AI and world models.
1. Large models / LLMs: ~$23.56B
2. AI infrastructure + technical layer: ~$15.74B
3. Embodied intelligence / physical AI: ~$13.36B
4. AIGC applications: ~$8.79B
5. Autonomous driving + other Top-20 cluster: ~$3.82B, but not apples-to-apples with the above.
Some notes:
- "Early-stage pure foundation-model funding is basically closed".
Looks like more funding is just being put into existing leaders and going into World Model companies. My guess is that we'll

So positive readthrough on the upstream glass substrate supply chain:
- Sumitomo Chemical and Samsung Electro-Mechanics formally establish JV in Korea within the year to handle the glass core substrate business (GlaSSEM).
Main thing was timeline/funding was finalized: "full scale commercialization targeted H2 2027" for the Samsung/Dongwoo JV / KRW 482.1B planned capital.
Think the "full scale commercialization" is the word to highlight, since that would imply timeline moving faster than expected than starting ramp or early production H2 2027.
So... TGV/LIDE with $LPK (that I own)/E&R and Ont

SemiAnalysis on $META “overcapacity” and market reactions with $NBIS and others:
“We believe Meta’s datacenter and compute will accelerate”.
“Capex in 2027 will be shockingly high”.
Recent global crash, especially in the photonics sector was stupid… Off misleading narratives of Meta dropping out of AI race to sell excess compute…
When in fact things are likely to accelerate from Meta catching up to GPT5.5.
I’m personally expecting a sharp V recovery, especially with the names that crashed 50%+ from this narrative.

$META: upcoming AI model “Watermelon” has caught up to OpenAI’s GPT 5.5.
Wang noted it uses an "order of magnitude" more compute than its predecessor “Avocado”.
Who said they were out of the AI race again?

$AXTI signs 3-year wafer deal with $COHR.
"Coherent will make a prepayment of $22,288,500 to AXT-Tongmei in exchange for a committed supply capacity."