What if GPU gross-margin compression as competition arrives?
Credible competing accelerators and customer ASICs force the GPU leader to defend share on price, compressing its ~75% gross margin and re-rating the stock.
how we built this number — every step
The class rate is measured from our dated, sourced event library (decade-normalized Poisson — the full table is public at base_rates.json). The variant’s share within its class is the analyst’s editorial call, published so you can audit it. A wider range means thinner precedent. Full recipe: methodology · scored at Reality Check.
The butterfly cascade
How this trigger trickles across markets, left → right — the root shock, its first‑order moves, then the ripple effects. Drag any node; tap a market for its real price history.
Resolution timeline — how this probability is moving
Our model's odds (gold) over time vs the crowd's (Polymarket, blue), from the past toward the 6–18 months horizon. Each dot is a real macro event that nudged the probability — green pushed it up, red pushed it down. Tap a dot for the source. The gold path is an illustrative reconstruction anchored to today's estimate — real dated events, not a live re-estimate history.
What it would mean
If this plays out, it is a risk-off shock. Credible competing accelerators and customer ASICs force the GPU leader to defend share on price, compressing its ~75% gross margin and re-rating the stock. The trigger decomposes into signed root‑shocks — AI capex ▼ · Risk appetite ▼ · Semiconductor supply risk ▲ — which propagate through our causal graph to the markets below.
If it happens — the markets it would move
Biggest moves first. Projected moves are cascade-model priors; hist A–B% = what comparable past events actually did (measured abnormal returns), and model prior · unmeasured marks markets with no analogue backing yet. Tap any market for its price history.
| Market | Class | Projected move | |
|---|---|---|---|
| 1 | Nvidia NVDAon Hyperliquid 📈 chart | Equity | ▼ -1.1% hist -0.85–-0.1% · other way +4.13% (n=12) |
| 2 | TSMC TSMon Hyperliquid 📈 chart | Equity | ▼ -0.9% hist -0.89–+0.37% · other way +1.64% (n=12) |
| 3 | Semiconductors SMHon Hyperliquid 📈 chart | Equity | ▼ -0.7% hist -0.57–+0.37% · other way +1.4% (n=12) |
| 4 | Broadcom AVGOon Hyperliquid 📈 chart | Equity | ▼ -0.7% hist -0.97–+0.93% · other way +5.76% (n=12) |
| 5 | Micron MUon Hyperliquid 📈 chart | Equity | ▼ -0.7% hist -3.56–+0.55% · other way -1.7% (n=12) |
| 6 | ASML ASMLon Hyperliquid 📈 chart | Equity | ▼ -0.6% hist -2.26–+0.74% · other way -0.91% (n=12) |
| 7 | Solana SOLon Hyperliquid 📈 chart | Crypto | ▼ -0.5% hist -10.59–+1.42% · other way -17.76% (n=11) |
| 8 | AMD AMDon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -0.54–-0.04% · other way -2.72% (n=12) |
| 9 | Marvell MRVLon Hyperliquid 📈 chart | Equity | ▼ -0.5% hist -1.02–+1.92% · other way -0.28% (n=12) |
| 10 | Hyperliquid (HYPE) HYPEon Hyperliquid | Crypto | ▼ -0.4% model prior · unmeasured |
| 11 | MicroStrategy MSTRon Hyperliquid 📈 chart | Equity | ▼ -0.4% hist -1.56–+2.6% · other way +8.12% (n=12) |
| 12 | Ether ETHon Hyperliquid 📈 chart | Crypto | ▼ -0.4% hist -8.77–+2.26% · other way -0.19% (n=11) |
| 13 | Nasdaq 100 NDXon Hyperliquid 📈 chart | Index | ▼ -0.3% hist -0.4–-0.02% · other way -0.05% (n=12) |
| 14 | Qualcomm QCOMon Hyperliquid 📈 chart | Equity | ▼ -0.3% hist -2.14–+0.72% · other way -3.2% (n=12) |
Probable recommendation
Historical precedent — what analogous events actually did
Across 40 analogous events (overlap‑weighted), as abnormal returns — market beta stripped, so it's the event's own effect, not the market backdrop. Shown at 20 days (persistent) and 5 days (immediate); ↺ fades = the two horizons disagree. Confidence = consistency × sample × significance.
| Asset | History says | Abnormal (20d · 5d) | Hit | n | Confidence | vs cascade |
|---|---|---|---|---|---|---|
| SOL SOL | SHORT | -8.6% · 5d -6.8% | 74% | 39 | 0.37 | ✓ matches cascade |
| INTC INTC | SHORT | -4.4% · 5d -3.1% | 65% | 40 | 0.30 | ✓ matches cascade |
| MU MU | SHORT | -2.8% · 5d -3.1% | 69% | 40 | 0.29 | ✓ matches cascade |
| ETH ETH | SHORT | -7.6% · 5d -5.6% | 65% | 40 | 0.24 | ✓ matches cascade |
| Gold XAU | LONG | +0.7% · 5d -0.2% ↺ fades | 63% | 40 | 0.22 | · |
| NDX NDX | SHORT | -0.2% · 5d -1.1% | 63% | 40 | 0.18 | ✓ matches cascade |
| AMD AMD | SHORT | -0.3% · 5d -2.1% | 61% | 40 | 0.17 | ✓ matches cascade |
| Bitcoin BTC | SHORT | -4.3% · 5d -3.1% | 61% | 40 | 0.17 | ✓ matches cascade |
| US dollar DXY | SHORT | -0.2% · 5d -0.0% | 59% | 40 | 0.16 | · |
| SMH SMH | LONG | +0.7% · 5d -0.7% ↺ fades | 57% | 40 | 0.13 | ⚠ differs |
| MRVL MRVL | LONG | +2.0% · 5d -1.9% ↺ fades | 57% | 40 | 0.11 | ⚠ differs |
| QCOM QCOM | SHORT | -1.9% · 5d -2.6% | 55% | 40 | 0.08 | ✓ matches cascade |
| MSTR MSTR | LONG | +2.8% · 5d -1.3% ↺ fades | 51% | 40 | 0.02 | ⚠ differs |
| Volatility VIX | LONG | +0.7% · 5d -0.8% ↺ fades | 51% | 40 | 0.02 | ✓ matches cascade |