On June 24, shares of multiple chipmakers rose after Micron forecast quarterly earnings above estimates and Qualcomm projected $15 billion in data-center sales by 2029. OpenAI and Broadcom separately announced the Jalapeño ASIC, an inference chip developed in nine months. The PHLX chip index fell 8 percent that day but remains up 90 percent year to date.
“OpenAI and Broadcom announce chip designed for LLM inference at scale”
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The rally concentrates gains among shareholders while AI deployment risks job displacement and private priorities shape hardware with little public oversight.
“Wealth concentration and need for democratic input on AI infrastructure”
Private-sector innovation and market signals are directing capital toward high-growth AI hardware without central planning.
“Advantages of limited government and technological leadership”
Decentralized markets and uncoerced price signals rapidly allocate resources to profitable AI-inference hardware.
“Property rights and voluntary exchange over industrial policy”
All three views accept corporate forecasts and the nine-month ASIC announcement at face value while overlooking the same-day index reversal and unverified long-term economics.
“Unexamined demand trajectory and potential for guidance revisions”
Ratings by MBFC