Goldman Upgrades CoreWeave to Buy, Lifting Peers, Samsung taps TSMC to build Nvidia memory die, AMD, ARM, Nvidia - Big Tech Report

Goldman Sachs upgraded CoreWeave to Buy from Neutral, reversing course after a selloff last week in which rising yields on the company's bonds stoked concern over its debt-heavy balance sheet. Debt funds much of CoreWeave's data centre build-out, so borrowing costs feed directly into its economics. The upgrade follows improved operating metrics: CoreWeave's operating cash flow turned positive in the period ended in June, its active power capacity expanded, and the company was added to the Nasdaq 100.

The rebound spread beyond CoreWeave itself, with Nebius Group shares rising even though Goldman's note did not cover the company. Oracle, whose Cloud Infrastructure business has become its primary growth engine alongside its database and enterprise software lines, was up 1.27% to $129.84. CoreWeave's bull case rests on converting its signed customer backlog into revenue quickly enough to cover rising interest costs, a question its next quarterly report may help answer.

Samsung will use Taiwan Semiconductor Manufacturing Co.'s 3-nanometer process to produce the base die for Nvidia's custom high-bandwidth memory, according to the Seoul Economic Daily, citing industry sources. The base die is the logic layer at the bottom of the HBM stack; Nvidia has asked all three of its NVHBM suppliers — Samsung, SK Hynix and Micron — to manufacture it on TSMC's process, and wants the core die standardized on the sixth-generation 1c DRAM process. Samsung's Device Solutions division approved the request after an internal review. It is the first time Samsung and TSMC have worked together at the HBM manufacturing stage, following a packaging-compatibility collaboration four years ago; Samsung will keep its turnkey model for standard HBM and custom HBM built for other customers.

Nvidia unveiled NVHBM in August, a design that folds the memory controller into the base die for up to 30% more bandwidth and 15% lower power use than standard HBM4E. Futurum Equities chief market strategist Shay Boloor said the arrangement gives Nvidia "more flexibility to shift orders between suppliers as HBM prices rise," while TSMC benefits "regardless of which memory maker wins the business." JPMorgan projects HBM shortages of 20% in 2026, 19% in 2027 and 16% in 2028, as China's ChangXin Memory Technologies works on a denser DRAM design it plans to bring to server memory by the end of 2026. TSMC shares were up 0.90% at $416.30.

Arm says its AGI CPU, built for agentic AI workloads, delivers roughly double the performance per rack of AMD's EPYC 9755, according to an independent analysis by Signal65 commissioned by Arm. The claim rests on a new CPU evaluation methodology Arm developed with support from Fujitsu, Meta and OpenAI, which measures how CPUs handle the tooling, data retrieval and task coordination that surround AI agents, rather than the inference work done by accelerators. Across seven workloads, Arm's chip beat the EPYC 9755 in five, posting an average per-chip lead of 20%, including a 97% advantage on fastText, while trailing on MySQL and Milvus throughput by 12% and 5% respectively.

The rack-level gap widens mainly because of power efficiency: Arm's modelling assumes 950W to 1,050W per server against 1,700W for AMD's, letting operators fit 21 to 23 Arm-based servers into a 24kW rack budget versus 13 AMD servers. Arm frames the methodology as a proposed industry standard for agentic workloads, though it stresses the results apply only to the specific chips, workloads and configurations tested, and other vendors continue to use different benchmarks. ARM shares were up 2.01% at $232.38; AMD, which recently unveiled its own open Helion rack blueprint for agentic AI, rose 3.44% to $546.96.

Kristina Bartley has joined Microsoft as Director, Cloud Operations & Innovation after nearly seven years at AWS, where she most recently served as Senior Manager, Data Center Engineering Operations. At AWS she led hyperscale data centre operations, including GPU-accelerated platforms and systems built on Nvidia's GB300 architecture, working with engineering and capacity planning teams to launch new regions and scale capacity for AI and high-performance computing workloads.

Bartley's two-decade career spans enterprise IT, managed services and hyperscale cloud operations, including earlier AWS roles as Area Manager and Manager of Data Center Operations. At Microsoft she is expected to apply that experience to cloud operations and reliability practices as the company scales infrastructure for AI workloads.

Norway's Ministry of Children and Families plans to bar children under 16 from using social media platforms it deems harmful to their emotional, cognitive or physical development, with TikTok, Roblox and Snapchat named as services likely to fall under the law. Technology companies would be responsible for verifying users' ages. The ministry has not specified which other apps might be added to the list, and the government said in April it intends to submit the bill to parliament by the end of the year.

Minister Lene Vågslid said the law is meant to address harmful content, addictive design features, illegal marketing and unwanted contact from strangers, while allowing children to continue using messaging services and games considered harmless. Norway joins a wave of European countries tightening rules on minors' social media use following Australia's under-16 ban, introduced in December. Roblox shares were up 1.71% at $50.38 in regular trading.

A High Court judge has dismissed claims worth about £340m brought against Uber by roughly 13,000 London black cab drivers and two defunct private hire firms, Kabbie and Iride. The claimants alleged Uber gave Transport for London misleading information when it first secured an operating licence in 2012. Mr Justice Birt ruled the cases, filed in 2024, were brought too late, finding the claimants could have discovered the alleged deception before 2018, and threw them out without ruling on whether the allegations were true.

Uber, which denied the claims, said it was pleased the cases were dismissed "at the earliest opportunity." RGL Management, which ran the litigation on behalf of the claimants, said it was considering its options. The ruling comes days before Uber faces a separate High Court challenge from HM Revenue and Customs in a tax dispute worth more than £1bn. Uber shares were down 0.23% at $70.18 in regular trading.

Netflix will stream the first three seasons of "From," MGM+'s horror series starring Harold Perrineau, starting 19 October. The show follows a sheriff trying to help residents survive in a town they cannot leave, besieged nightly by monsters. MGM+ aired the show's fourth season finale in June, with a fifth and final season expected on the network in 2027.

Netflix shares were down 1.14% at $69.73 in regular trading.