Chip Stock Investor Podcast

Chip fab capacity is maxed out — and TSMC is the biggest winner. But new risks are emerging fast.

In this episode, Nick and Kasey break down TSMC's Q2 2026 earnings guidance: $39–40 billion in quarterly revenue, 30% year-over-year growth, and gross margins approaching 67.5%. Then they dig into what could actually slow TSMC down.

Topics covered:
— Helium and LNG shortages driven by the Strait of Hormuz closure
— Taiwan's energy security and how long government-secured supply lasts
— The Intel-Tesla chip "refactoring" announcement decoded
— Could Elon Musk's consortium acquire Intel Foundry after the SpaceX IPO?
— Samsung Foundry, Nvidia's Groq acquisition, and supply chain diversification

TSMC has navigated supply chain disruptions before. But with AI chip demand exploding and new competitors circling, the pressure is unlike anything the industry has seen.

For the full earnings breakdown and supply chain chart, visit chipstockinvestor.com and check out the Semi Insider subscription.

Chip Stock Investor covers semiconductors, AI infrastructure, and the companies powering the next wave of technology.

For informational and entertainment purposes only — not individual investment advice. All investing involves risk and you may lose principal. Forecasts are not guaranteed. Nick and Kasey own shares of TSM.

Veeva Systems has been hammered by the AI-driven software selloff — but when you look past the stock chart, the fundamentals tell a completely different story. Zero debt, over $6 billion in cash, $1.4 billion in free cash flow, and a reverse DCF suggesting the market is pricing in only 5% growth. That seems like a very easy hurdle for Veeva to clear.
In this episode, Kasey breaks down why Veeva is far more than a boring CRM company. Built specifically for the biopharma and life sciences industry,
Veeva has embedded itself into every stage of the drug development process — from R&D and clinical trials through manufacturing compliance and global regulatory filings.

We cover:
- What Veeva actually does — the four-segment cloud stack explained
- FY2026 results: $3.2B revenue, 16% year-over-year growth
- The balance sheet: $6B+ cash, zero debt
- Free cash flow growing at a 16% CAGR on a per-share basis
- Is AI a genuine threat to Veeva — or a tailwind?
- CEO Peter Gassner's case for AI as symbiotic, not disruptive
- The real bottleneck in getting drugs to patients — and where Veeva fits
- A reverse DCF valuation walkthrough: what growth rate is actually priced in?
We lay out the full case and leave the conclusion where it belongs — with you.
Want deeper research and live discussion? Join our Semi Insider community at chipstockinvestor.com. New members can access the Discord server until April 15th.
Disclaimer: Content is for general information and educational purposes only and does not constitute specific investment advice. All investing involves risk. Nick and Kasey hold a position in Veeva Systems.

Circle Internet Group (CRCL) just dropped its first annual report — and this "crypto stock" operates more like a bank than most investors realize.
We dig into reserve income, USDC in circulation, the Circle Reserve Fund managed by BlackRock, and exactly what the Federal Reserve's rate moves mean for this business.
We also break down Arc Blockchain, the Circle Payments Network, and run a Reverse DCF to show what growth rate is already baked into the stock at 80x forward earnings.We still hold a small position — we'll tell you why, and what would change our mind.Data powered by Fiscal.ai — 15% off at fiscal.ai/csi.More research at chipstockinvestor.com
Nick and Kasey own shares of CRCL.
Content is for general information and entertainment only — not individual investment advice. All investing involves risk.

Sony quietly controls 50% of the world's CMOS image sensors — including every camera inside every iPhone. But most investors still think of them as a gaming company.
In this episode, Bob Ma, investor at WIND Ventures and physical AI specialist, breaks down why Sony Semiconductor could be one of the most undervalued positions in the entire AI hardware stack — and what the shift from digital AI to physical AI means for demand.
Robots. Self-driving cars. AI glasses. Every single one needs multiple cameras and sensors. The smartphone era already did the heavy lifting on cost and manufacturing scale. Now that infrastructure is about to be redeployed into the physical world — and Sony sits at the foundation of all of it.
WHAT WE COVER:
How CMOS image sensors work and why Sony's stacked architecture is nearly impossible to replicate
Bob's Physical AI investment framework: GPUs → ASICs → perception sensors
The three physical AI embodiments driving the next wave: humanoid robots, autonomous vehicles, and AI wearables
Why specs like global shutter, HDR, and zero latency matter for robots in ways smartphones never required
Sony's SPAD lidar play and how it's built on the same CIS foundation
Market share breakdown: Sony, Samsung, OmniVision, and ON Semi
The real risks: Samsung threatening Apple supply share, AI memory shortages hitting PlayStation, the conglomerate discount, and yen exposure
LINKS & RESOURCES:
Bob's full article on the thesis:https://aijourn.com/from-training-to-inference-to-perception-the-still-overlooked-chip-driving-the-next-ai-supercycle/
Free Weekly Newsletter:https://mailchi.mp/b1228c12f284/sign-up-landing-page-short-form
More Episodes:https://podcasters.spotify.com/pod/show/chipstockinvestor
Semiconductor Insider — deeper data and financial analysis:https://chipstockinvestor.com/pricing/
15% off Fiscal.ai:https://fiscal.ai/csi/
This podcast is for general information and entertainment purposes only and does not constitute individual investment advice. All investing involves risk.

The 2026 CPU shortage is making headlines — but the real story isn't a supply crisis. It's Intel losing its data center CPU dominance at exactly the wrong moment, and AMD stepping in to fill the gap.
In this episode we break down:

Why the CPU bottleneck is an Intel market share problem, not a shortage
AMD's EPYC Turin and Venice CPUs and why they're positioned to win
Intel's Apollo equity buyback and what it signals about their manufacturing strategy
ARM's pivot from IP licensing to chipmaking — and why we're still watching from the sidelines
Who is best positioned financially to meet the growing AI inference CPU demand

This is Part 2 of our CPU series. Part 1 covered ARM's new AI CPU — search "ARM Holdings Is Threatening x86 Dominance. Here's Why We're Still Not Buying the Stock"on this podcast feed to catch up.

Nick and Kasey own shares of AMD.
Content is for general information and entertainment only — not individual investment advice. All investing involves risk.

Semiconductor Insider (Discord + deeper analysis): chipstockinvestor.com/pricing
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