To The Moon

Broadcom reports fiscal Q3 earnings after the market closes on September 2.Wall Street expects about $29.4 billion in revenue and $3.23 in adjusted EPS. $Broadcom(AVGO)$ The bigger story is custom AI chips. OpenAI has been working with Broadcom on a custom inference chip called Jalapeño. Early tests reportedly showed better power efficiency and faster response times than Nvidia’s GB300. That does not mean Broadcom is about to replace Nvidia.It is still early. The chip is focused on inference, has not been tested against Rubin, and large-scale production is not expected until late next year. But the trend matters: More AI companies want chips built around their own models and costs — and Broadcom could be one of the biggest winners. What to expect？

Nvidia has largely answered the question of whether AI demand remains strong. Investors are now examining how its customers finance GPU purchases—and how much risk Nvidia is assuming to keep the infrastructure boom moving. Nvidia jumped 8.7% in the first session after earnings, lifting the Philadelphia Semiconductor Index by 2.3%. One day later, NVDA fell 4.6%. Fed Chair Kevin Warsh’s hawkish remarks pushed Treasury yields and rate-hike expectations higher, but monetary policy was not the whole story. Friday’s decline was likely driven by three overlapping factors: Higher rates pressured technology valuations. Investors took profits after Thursday’s 8.7% surge. Concerns about circular financing, customer spending and falling margins returned to the spotlight. The earnings were genuinely st