SCMI stock split
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Hi team
Do today's updated values include the SCMI stock split, or is that still to be factored in (posting hopefully
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Hi LP,
The valuations are based on yesterdays stock holdings and price which had yet to split. Today SMCI will open, split. The custodian tells me they will journal the extra units (9 additional) whilst they await receipt of the new shares.
As an aside I read last night that Bank of America has given them a waiver on their debt covenant which required filing of their 10-k by 27 September AND advanced them a further $70M. This can only been seen as a positive.
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Yeah ... the stock split .... if only someone who writes the Google Shares app could have factored this into their display which currently shows a 90% drop in value and did my heart health a load of no good this morning. >InsertNumptySmileyHere<
Thanks Adam for the news about the waiver. I don't understand it but I DO understand the phrase 'Good News'.
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Debt covenants are the restrictions placed on borrowers. You would find them in residential mortgages too, such as the borrower won't demolish the house without consent and you must insure the property, etc.
In this case the lender has given them a waiver because they would have been in breach of that term.
SMCI is a tier 1 partner of Nvidia and we believe has priority allocation of 25% of Blackwell chips. And on that(supply), total Hopper supply in 2023 was circa 550k chips and estimated 1.8-2m for all of 2024. Recent reports (today) show an estimated 2025 supply of 3M Hopper +4M Blackwell. No one expected Hopper, 'the old' architecture to continue to increase through 2025. By the time these chips are assembled in servers they are $40k per unit. The math is interesting!