Payrolls rose 29,000 in September against roughly 90,000 expected, and unemployment ticked up to 4.2%. Micron guided its next quarter to $61.5 billion at an 87% gross margin, and AMD agreed to buy Fei-Fei Li's World Labs for about $8.2 billion in stock. Daniel Newman and Shay Boloor take the jobs report, Micron, Synopsys, AMD and Nvidia's agent safety platform on episode 59, then take your questions.
Shay calls the jobs report Goldilocks: labor cooled without falling apart, and he does not see the Fed needing to raise rates again. His worry is the consumer, with wage growth of about 3% roughly matching core inflation. Daniel says the hikes were justified on war-driven inflation that should fade, while jobs keep getting revised lower, and that the bond market has already done the hiking for the Fed. Both hosts say the end of the war in Iran is the catalyst for a year-end rally.
Daniel calls Micron the World Series of Earnings. He says the revenue growth came on roughly the same supply as a year ago, so the story is pricing, mix and margin, and that memory supply may stay tight until 2030. He expects Micron to use its growing cash pile to invest across the ecosystem the way Nvidia has. Shay walks through how much of the quarter came from pricing rather than bit growth and why the market still prices Micron like a commodity. On Synopsys, Daniel says OpenAI found that chip design tools cannot be vibe coded, and that GPT-Synopsys adds AI to the tools instead. He calls ServiceNow's Flow the right way to package vibe-coded software for the enterprise, and Shay calls ServiceNow fair at 30x earnings. Shay calls AMD's World Labs deal a genius acquisition that ties model research to AMD's chip roadmap, with the payoff in products around 2028. Daniel reads Nvidia's safety platform as zero trust for agents, which start with no permissions and are granted them, and argues AI companies should carry liability when their systems cause harm.
The Q&A covers cybersecurity valuations, Muse use cases and why Apple should have built it, IREN's Horizon handoffs, why Shay bought Cerebras, Axon after the Flock backlash, oil and gas, SoFi, and Oracle LEAPs against its credit rating.
Watch the full episode with chapters on YouTube: https://youtube.com/live/ruhlhBovNLM?feature=share
The show is live every Friday at 1 PM ET. Bring your tickers and questions to the chat and the guys will take them on air.
