{
  "version": "1.2.0",
  "chapters": [
    {
      "title": "– The Hunt for Earnings Gold Nuggets Ben and Jay open the show by discussing the pervasive capacity constraints across the entire semiconductor industry.\r",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 70
    },
    {
      "title": "– Cyclicality vs. The \"Next Week\" Peak The hosts weigh the debate between a decades-long super-cycle and investor fears that the peak is imminent.\r",
      "startTime": 70,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 253
    },
    {
      "title": "– The 18-Month Visibility Problem A look at why the supply chain only offers a limited window of confidence for future forecasting.\r",
      "startTime": 253,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 343
    },
    {
      "title": "– WFE: Why This Cycle is Structurally Different Ben explains how the shift to advanced nodes like N2 and A16 requires entirely new equipment rather than tool reuse.\r",
      "startTime": 343,
      "endTime": 1
    },
    {
      "title": "",
      "startTime": 1,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 605
    },
    {
      "title": "– TSMC and Intel Driving Expectations Jay analyzes how bullishness from foundries created a \"whisper number\" environment that WFE makers struggled to satisfy.\r",
      "startTime": 605,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 922
    },
    {
      "title": "– Hyperscaler Tension: Internal vs. External Compute An exploration of how Microsoft and Google's internal software teams are fighting their own cloud customers for GPU capacity.\r",
      "startTime": 922,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 1313
    },
    {
      "title": "– The \"AI Hotel\" Analogy and ROI The hosts debate whether building more infrastructure is justified by the current massive backlogs of demand.\r",
      "startTime": 1313,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 2067
    },
    {
      "title": "– The Rise of Neo-Clouds and Bare Metal A discussion on how AI startups are navigating \"hostel\" clouds and the availability of GPU credits.\r",
      "startTime": 2067,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 2466
    },
    {
      "title": "– Storage: The New Memory Glut? Ben and Jay react to the massive earnings beats and subsequent \"irrational\" volatility in storage stocks like SanDisk.\r",
      "startTime": 2466,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 2880
    },
    {
      "title": "– Breaking the Spot Market Cycle The shifting business model of memory and storage toward long-term data center commitments and fixed pricing.\r",
      "startTime": 2880,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 3238
    },
    {
      "title": "– Apple’s High-Stakes Memory Negotiations Insight into why Tim Cook is staying vague on AI to maintain leverage in tense negotiations with suppliers like Samsung.\r",
      "startTime": 3238,
      "endTime": 0
    },
    {
      "title": "",
      "startTime": 0,
      "endTime": 3362
    },
    {
      "title": "– Texas Instruments and the Analog Recovery Jay explains how TI has finally caught up to its peers by reaching \"enough\" inventory to survive future shocks",
      "startTime": 3362,
      "endTime": 0
    }
  ]
}