[DB금융투자 반도체 서승연]
- 리사수 AMD CEO, 탄력적인 공급망 확보를 위해 TSMC 외 파운드리 파트너사 다변화 고려 중이라 밝힘
- 파운드리 공급사를 언급하지 않았지만 TSMC 경쟁사로는 삼성전자파운드리, UMC, 글로벌파운드리가 있음. 현재 미국, 일본 등에서 파운드리 팹이 확대되고 있는 가운데 AMD는 다양한 지역별로 공급망을 구축하길 원한다고 언급함
https://asia.nikkei.com/Business/Tech/Semiconductors/AMD-will-consider-other-partner-foundries-to-TSMC-CEO
- 리사수 AMD CEO, 탄력적인 공급망 확보를 위해 TSMC 외 파운드리 파트너사 다변화 고려 중이라 밝힘
- 파운드리 공급사를 언급하지 않았지만 TSMC 경쟁사로는 삼성전자파운드리, UMC, 글로벌파운드리가 있음. 현재 미국, 일본 등에서 파운드리 팹이 확대되고 있는 가운데 AMD는 다양한 지역별로 공급망을 구축하길 원한다고 언급함
https://asia.nikkei.com/Business/Tech/Semiconductors/AMD-will-consider-other-partner-foundries-to-TSMC-CEO
Nikkei Asia
AMD will consider 'other' partner foundries to TSMC: CEO
U.S. chipmaker is open to diversifying foundries amid Taiwan risks
Tokyo Electron: AI chip equipment demand will boom in 1H24
https://www.digitimes.com/news/a20230721PD203/generative-ai-ic-manufacturing-equipment-japan-tel.html
https://www.digitimes.com/news/a20230721PD203/generative-ai-ic-manufacturing-equipment-japan-tel.html
DIGITIMES
Tokyo Electron: AI chip equipment demand will boom in 1H24
Japanese semiconductor equipment maker Tokyo Electron (TEL) pointed out that the trend of generative AI like ChatGPT has already driven the demand for semiconductor equipment. Despite that, the current scale is still quite minor. Clear contributions to revenue…
Alphabet reported a 7% increase in revenue for the second quarter, boosted by Google’s cloud-computing unit. The stock climbed about 5% in extended trading.
https://www.cnbc.com/2023/07/25/alphabet-googl-q2-earnings-report-2023.html
https://www.cnbc.com/2023/07/25/alphabet-googl-q2-earnings-report-2023.html
CNBC
Alphabet reports better-than-expected quarterly results driven by growth in cloud
Alphabet reported earnings after the bell. Here are the results.
- Microsoft’s Azure cloud revenue growth slower to 26% from 27% in the previous quarter.
- Microsoft CEO Satya Nadella told employees in May that the company won’t lift salaries this year.
- During the quarter, Microsoft announced a new chatbot for data analysis that will draw on technology from startup OpenAI.
https://www.cnbc.com/2023/07/25/microsoft-msft-q4-earnings-report-2023.html
- Microsoft CEO Satya Nadella told employees in May that the company won’t lift salaries this year.
- During the quarter, Microsoft announced a new chatbot for data analysis that will draw on technology from startup OpenAI.
https://www.cnbc.com/2023/07/25/microsoft-msft-q4-earnings-report-2023.html
CNBC
Microsoft shares dip after quarterly revenue guidance misses expectations
Microsoft's public cloud Azure has reached scale, and its growth has slowed in recent months as customers make their existing workloads more efficient.
Analog chipmaker Texas Instruments forecast third-quarter revenue below Wall Street targets on Tuesday, bogged down by sluggish recovery in consumer and enterprise demand that has kept clients from placing fresh chip orders. Shares of the Dallas, Texas-based company fell about 2% in trading after the bell.
https://www.reuters.com/technology/texas-instruments-forecasts-third-quarter-revenue-below-estimates-2023-07-25/
https://www.reuters.com/technology/texas-instruments-forecasts-third-quarter-revenue-below-estimates-2023-07-25/
Reuters
TI forecasts dull third quarter on sluggish chip demand, China weakness
Analog chipmaker Texas Instruments forecast third-quarter revenue and profit below Wall Street targets on Tuesday, bogged down by sluggish recovery in end-market demand that has forced clients to cancel orders.
[DB금융투자 반도체 서승연]
금일 새벽 실적 발표한 Microsoft, Alphabet의 Capex 관련 코멘트 업데이트 드립니다.
업무에 도움이 되시길 바랍니다. 감사합니다.
■ Microsoft
- FY4Q23 Capex $107억으로 전분기 $78억 대비 증가. AI 인프라 투자를 포함한 클라우드 수요에 기인함. MSFT 클라우드 성장과 AI 플랫폼 수요를 위해 당사는 클라우드 인프라 투자를 가속화할 것임. 차분기 역시 Capex 증가할 것
■ Alphabet
- FY2Q23 Capex의 대부분은 서버에 투자. 특히 AI 컴퓨팅에서 유의미한 투자를 집행함. FY2Q23 Capex 증가가 예상 대비 낮은 이유는 2가지. 1) 인력 증가 속도 둔화에 따른 오피스 시설 투자 영향, 2) 특정 데이터센터 건설 지연 때문. 2023년 하반기 인프라 투자 확대할 계획이며 이러한 흐름은 2024년에도 이어질 것. 데이터센터 캐파 뿐만 아니라 GPU 투자를 포함한 AI 투자 집행할 것
--------------
*실적 컨콜 원문 발췌
[Microsoft]
- Total expenditures, including finance leases, were $10.7 billion to support cloud demand, including investments in AI infrastructure.
- To support our Microsoft Cloud growth and demand for AI platform, we will accelerate investment in our cloud infrastructure. We expect capital expenditures to increase sequentially each quarter through the year, as we scale to meet demand signals.
[Alphabet]
- Finally, as it relates to CapEx in Q2, the largest component was for servers, which included a meaningful increase in our investments in AI compute. The sequential step-up in the second-quarter was lower-than-anticipated for two reasons, first, with respect to office facilities. We continue to moderate the pace of fit-outs and ground-up construction to reflect the slower expected pace of headcount growth. Second, there were delays in certain data center construction projects. We expect elevated levels of investment in our technical infrastructure increasing through the back-half of 2023 and continuing to grow in 2024. The primary driver is to support the opportunities we see in AI across Alphabet, including investments in GPUs and proprietary GPUs as well as datacenter capacity.
금일 새벽 실적 발표한 Microsoft, Alphabet의 Capex 관련 코멘트 업데이트 드립니다.
업무에 도움이 되시길 바랍니다. 감사합니다.
■ Microsoft
- FY4Q23 Capex $107억으로 전분기 $78억 대비 증가. AI 인프라 투자를 포함한 클라우드 수요에 기인함. MSFT 클라우드 성장과 AI 플랫폼 수요를 위해 당사는 클라우드 인프라 투자를 가속화할 것임. 차분기 역시 Capex 증가할 것
■ Alphabet
- FY2Q23 Capex의 대부분은 서버에 투자. 특히 AI 컴퓨팅에서 유의미한 투자를 집행함. FY2Q23 Capex 증가가 예상 대비 낮은 이유는 2가지. 1) 인력 증가 속도 둔화에 따른 오피스 시설 투자 영향, 2) 특정 데이터센터 건설 지연 때문. 2023년 하반기 인프라 투자 확대할 계획이며 이러한 흐름은 2024년에도 이어질 것. 데이터센터 캐파 뿐만 아니라 GPU 투자를 포함한 AI 투자 집행할 것
--------------
*실적 컨콜 원문 발췌
[Microsoft]
- Total expenditures, including finance leases, were $10.7 billion to support cloud demand, including investments in AI infrastructure.
- To support our Microsoft Cloud growth and demand for AI platform, we will accelerate investment in our cloud infrastructure. We expect capital expenditures to increase sequentially each quarter through the year, as we scale to meet demand signals.
[Alphabet]
- Finally, as it relates to CapEx in Q2, the largest component was for servers, which included a meaningful increase in our investments in AI compute. The sequential step-up in the second-quarter was lower-than-anticipated for two reasons, first, with respect to office facilities. We continue to moderate the pace of fit-outs and ground-up construction to reflect the slower expected pace of headcount growth. Second, there were delays in certain data center construction projects. We expect elevated levels of investment in our technical infrastructure increasing through the back-half of 2023 and continuing to grow in 2024. The primary driver is to support the opportunities we see in AI across Alphabet, including investments in GPUs and proprietary GPUs as well as datacenter capacity.
[DB금융투자 반도체 서승연]
SK하이닉스 2Q23 실적 공시 안내드립니다.
■ 매출 7.3조원 (컨센서스 6.1조원)
- DRAM b/g +30% 중반 QoQ, ASP +한자릿수 후반% QoQ
- NAND b/g +50% QoQ, ASP -10% QoQ
■ 영업손실 2.9조원 (컨센서스 -2.9조원)
- DRAM 가격 환경 개선되며 재평손 규모 축소
■ 지배순손실 3.0조원 (컨센서스 -2.5조원)
공시 링크: https://bit.ly/3pVse5e
SK하이닉스 2Q23 실적 공시 안내드립니다.
■ 매출 7.3조원 (컨센서스 6.1조원)
- DRAM b/g +30% 중반 QoQ, ASP +한자릿수 후반% QoQ
- NAND b/g +50% QoQ, ASP -10% QoQ
■ 영업손실 2.9조원 (컨센서스 -2.9조원)
- DRAM 가격 환경 개선되며 재평손 규모 축소
■ 지배순손실 3.0조원 (컨센서스 -2.5조원)
공시 링크: https://bit.ly/3pVse5e
Lam Research forecasts strong quarterly revenue on AI boom | Reuters
https://www.reuters.com/technology/lam-research-forecasts-strong-quarterly-revenue-ai-boom-2023-07-26/
https://www.reuters.com/technology/lam-research-forecasts-strong-quarterly-revenue-ai-boom-2023-07-26/
Reuters
Lam Research sales forecast beats estimates on AI boom
Chip-making tools supplier Lam Research forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising adoption of artificial intelligence (AI) technology.
[DB금융투자 반도체 서승연]
금일 실적 발표한 Meta의 Capex 관련 코멘트 업데이트 드립니다.
업무에 도움이 되시길 바랍니다. 감사합니다.
■ Meta
- 23년 Capex 가이던스를 기존 $300~330억에서 $270~300억으로 하향 조정. 하향 조정 배경에는 비용 절감, 특히 non-AI 서버에는 캐파를 보다 효율적으로 배분하기 위해 노력 중. 데이터센터 프로젝트 및 서버 출하 지연으로 24년으로 Capex 이연. 현재 24년 Capex 계획 수립 중이기에 최종 결정되지는 않았으나, 24년 Capex는 AI 위주 데이터센터와 서버 투자로 23년 대비 증가할 전망. 이는 지난해 이야기했던 신규 데이터센터 건설과 AI향 서버 추가 투자가 예상되기 때문
---------------
*실적 컨콜 원문 발췌
- We currently expect total capital expenditures to grow in 2024, driven by our investments across both debt datacenters and servers, particularly in support of our AI work.
- Now we're spending so much on AI CapEx that all the help that we can get from the community to make the stuff more efficient to run will be helpful. Not just for individuals to help to run powerful models on their laptop or locally or without a huge amount of compute. So we Individuals can afford it, but that should hopefully translate over-time into just a more efficient infrastructure for us, which hopefully could be quite a big savings.
- Q1) Thanks for taking the questions, one for Mark, one for Susan. Mark you touched on it a bit, but can you just talk a little bit more about what you've learned from threads early-on not just for that product specifically but also, as you look to leverage the family of apps platform to launch additional products over time. And then Susan, you lowered the CapEx outlook this year-by $3 billion. Can you just provide more color on the delays in projects and equipment in '23 in is there any way to frame how meaningful the CapEx increase could be in '24, thank you.
- A1) And Doug, on your second question about our 2023 CapEx forecast and the impact on '24, so I'll start with 2023, the reduced forecast that we gave for '23, I mentioned on the call is driven both by some cost-savings. Particularly on non-AI servers where we previously had some underutilized capacity and we've been identifying ways to be more efficient in the way that we allocate that capacity towards all of our various needs. As well as shifts in CapEx in 2024 that's coming from delays in data center projects and server deliveries and that'll just push that Associated CapEx which we were planning for and '23 in '24. We're still working on our '24 CapEx plans. We haven't yet finalized that and we'll be working on that through the course of this year. But I mentioned that we expect that CapEx in '24 will be higher than in '23, we expect both datacentre spend to grow in '24 as we ramp-up construction on-sites, with the new data center architecture that we announced late last year and then we certainly also expect to invest more in servers in 2024 for both AI workloads to support all of the AI work that we've talked about across the core AI ranking recommendation work along with the NextGen AI efforts.
- Q2) Yeah, thanks. Just had a follow-up. I guess, on the CapEx, just in that planning process, you keep alluding to for the '24 CapEx outlook. I think lot of your commentary here implies that new product, it sounds like you're going to be really central to instructing that number. Just curious how dependent, it also is based on just view the revenue growth in '24 and the relationship there. Thanks.
- A2) Yeah, thank you, Brad and I can go-ahead and take that one. So our growth in AI investments is really the thing that is driving the growth in our 2024 CapEx outlook and. I think there are a couple of components to that, there is both the core AI work, which powers our ranking and recommendation systems, which underpins both a lot of our. Content ranking and engagement growth as well as the monetization work and that's an area where we're able to measure the ROI of our investments there, and we feel-good about the ROI of those investments and we want to continue investing appropriately to drive revenue growth.
금일 실적 발표한 Meta의 Capex 관련 코멘트 업데이트 드립니다.
업무에 도움이 되시길 바랍니다. 감사합니다.
■ Meta
- 23년 Capex 가이던스를 기존 $300~330억에서 $270~300억으로 하향 조정. 하향 조정 배경에는 비용 절감, 특히 non-AI 서버에는 캐파를 보다 효율적으로 배분하기 위해 노력 중. 데이터센터 프로젝트 및 서버 출하 지연으로 24년으로 Capex 이연. 현재 24년 Capex 계획 수립 중이기에 최종 결정되지는 않았으나, 24년 Capex는 AI 위주 데이터센터와 서버 투자로 23년 대비 증가할 전망. 이는 지난해 이야기했던 신규 데이터센터 건설과 AI향 서버 추가 투자가 예상되기 때문
---------------
*실적 컨콜 원문 발췌
- We currently expect total capital expenditures to grow in 2024, driven by our investments across both debt datacenters and servers, particularly in support of our AI work.
- Now we're spending so much on AI CapEx that all the help that we can get from the community to make the stuff more efficient to run will be helpful. Not just for individuals to help to run powerful models on their laptop or locally or without a huge amount of compute. So we Individuals can afford it, but that should hopefully translate over-time into just a more efficient infrastructure for us, which hopefully could be quite a big savings.
- Q1) Thanks for taking the questions, one for Mark, one for Susan. Mark you touched on it a bit, but can you just talk a little bit more about what you've learned from threads early-on not just for that product specifically but also, as you look to leverage the family of apps platform to launch additional products over time. And then Susan, you lowered the CapEx outlook this year-by $3 billion. Can you just provide more color on the delays in projects and equipment in '23 in is there any way to frame how meaningful the CapEx increase could be in '24, thank you.
- A1) And Doug, on your second question about our 2023 CapEx forecast and the impact on '24, so I'll start with 2023, the reduced forecast that we gave for '23, I mentioned on the call is driven both by some cost-savings. Particularly on non-AI servers where we previously had some underutilized capacity and we've been identifying ways to be more efficient in the way that we allocate that capacity towards all of our various needs. As well as shifts in CapEx in 2024 that's coming from delays in data center projects and server deliveries and that'll just push that Associated CapEx which we were planning for and '23 in '24. We're still working on our '24 CapEx plans. We haven't yet finalized that and we'll be working on that through the course of this year. But I mentioned that we expect that CapEx in '24 will be higher than in '23, we expect both datacentre spend to grow in '24 as we ramp-up construction on-sites, with the new data center architecture that we announced late last year and then we certainly also expect to invest more in servers in 2024 for both AI workloads to support all of the AI work that we've talked about across the core AI ranking recommendation work along with the NextGen AI efforts.
- Q2) Yeah, thanks. Just had a follow-up. I guess, on the CapEx, just in that planning process, you keep alluding to for the '24 CapEx outlook. I think lot of your commentary here implies that new product, it sounds like you're going to be really central to instructing that number. Just curious how dependent, it also is based on just view the revenue growth in '24 and the relationship there. Thanks.
- A2) Yeah, thank you, Brad and I can go-ahead and take that one. So our growth in AI investments is really the thing that is driving the growth in our 2024 CapEx outlook and. I think there are a couple of components to that, there is both the core AI work, which powers our ranking and recommendation systems, which underpins both a lot of our. Content ranking and engagement growth as well as the monetization work and that's an area where we're able to measure the ROI of our investments there, and we feel-good about the ROI of those investments and we want to continue investing appropriately to drive revenue growth.