Nvidia moves to revenue-sharing with AI clouds — Nvidia will take a cut of some customers’ cloud revenues rather than selling hardware outright, while Meta plans a cloud business selling excess compute. Vendor economics shifting from capex sale to recurring share — directly relevant to the GaaS thesis. Semiconductor Engineering

Korea’s $1.3T chip gamble — Samsung and SK Hynix outlined roughly $1.3 trillion in decade-long Korean fab and AI data centre investment, tied into a single state industrial plan. The largest sovereign concentration bet of the AI cycle. Semiconductor Engineering