EP 161: TSMC Earnings, Cerebras S1, Custom Semi Rumors, Apple CEO Change

About this episode

Ben Bajarin and Jay Goldberg analyze TSMC's earnings, AI demand, and the implications of Tim Cook's departure from Apple.

In this episode of The Circuit , Ben Bajarin and Jay Goldberg analyze a pivotal week in tech, beginning with TSMC’s strong earnings and their strategic decision to ramp up CapEx and N3 production specifically to meet massive AI demand. The duo explores the industry-wide compute deficit impacting firms like Anthropic and the potential IPO of Cerebras, while discussing the fragmenting market for custom ASICs as Google explores design partners like Marvell and MediaTek. Finally, they weigh in on the end of an era at Apple with Tim Cook stepping down; they argue his greatest legacy was preserving the company’s unique culture while handing the reins to John Ternus to lead a new hardware and AI growth cycle.

People in this episode

Hosts: Ben Bajarin, Jay Goldberg

Topics covered

• TSMC earnings
• AI demand
• Cerebras IPO
• custom ASICs
• Apple leadership change
• compute deficit

Keywords

• TSMC
• Cerebras
• AI
• custom ASICs
• Apple
• Tim Cook
• John Ternus
• compute deficit

Mentioned in this episode

Organizations: TSMC, Cerebras, Anthropic, Google, Marvell, MediaTek

More episodes of The Circuit

• EP 176: Earnings! Marvell, Synopsis, Dell and more thesis time. · June 1, 2026 · 45 min
• EP 166: NVIDIA Earnings, Dell Tech World and Storage Shock, Tech IPOs · May 26, 2026 · 59 min
• EP 165: Cerebras IPO, Premium Tokens, Neo Clouds, and the Angstrom Era · May 18, 2026 · 56 min
• EP 164: ARM, ARM Earning, Agentic CPU Inflections, A World of Constraints · May 11, 2026 · 1h 2m
• EP 163: Breaking the Memory Wall: Micron’s Strategy for the AI Era · May 5, 2026 · 52 min
• EP 162: TPUs Via Cloud Next, Intel Earnings, Foundry Scarcity · April 27, 2026 · 49 min