Monday, August 10, 2026. TSMC revenue rips 45%, AI demand isn’t slowing. Monday.com guidance spooks. Macro data week ahead.

TSMC July revenue +45% Y/Y. The AI buildout is real and it’s not pausing. Chip equipment names catching a bid on the read-through. NQ leads, USD flat, JPY soft. The trade is simple: semis up, risk on, funding currencies offered. Watch the correlation hold through CPI. Monday.com beats on Q2 but the revenue outlook disappoints. Stock getting hit. The issue is, growth software multiples have zero room for error. Sony and TSMC planning a $6.4B image sensor plant in Japan. This is interesting—diversifying the chip supply chain beyond Taiwan, one factory at a time. Trump dismisses voter anxiety on AI and data centers. Not sure people appreciate how much deregulation tailwind is priced into that stance.

TSMC July revenue +45% Y/Y. The AI buildout is real and it’s not pausing. Chip equipment names catching a bid on the read-through.