OpenAI’s Custom Chip Challenges Nvidia

OpenAI’s first custom AI chip, built with Broadcom and nicknamed “Jalapeño,” reportedly matched Nvidia’s newest Vera Rubin chip and outperformed Blackwell on tokens produced per megawatt in independent benchmarks.

The move could challenge Nvidia’s CUDA (Compute Unified Device Architecture) moat, while Anthropic is reportedly pursuing a similar strategy. Broadcom may benefit as demand for custom AI silicon grows.

AI-Driven Cyberattacks Put Cybersecurity in Focus

Researchers disclosed a near-autonomous AI-driven cyberattack targeting government and critical infrastructure, with suspected Chinese state hackers using open-source AI models to steal more than 2,500 records (Source: Cantor FitzgeraldWeekly Cyber Watch, 23 Aug 2026).

The attack highlights growing demand for AI-native defenses. Palo Alto Networks launched a new AI-defense program with Anthropic and OpenAI, while Fortinet acquired an AI red-teaming startup. Despite the developments, Cantor’s cybersecurity coverage index fell 4.8% for the week.

Exhibit: Cybersecurity Stocks Fell Despite Rising AI-Driven Threats

The S&P 500 (Standard & Poor's 500) is a stock market index that tracks the performance of 500 of the largest publicly traded companies in the United States.

The Cyber Index refers to Cantor Fitzgerald Cybersecurity Index. CrowdStrike is an individual security and is not directly comparable to a diversified index. Indexes are unmanaged, do not reflect fees or expenses, and cannot be invested in directly. Past performance does not guarantee future results.

Nvidia Growth Continues as AMD Targets Agentic AI

Nvidia’s fiscal Q2 revenue more than doubled year-over-year to $96.2 billion, while management guided to roughly 69% revenue growth for the next fiscal year—well above Wall Street’s ~44% expectation. Shares rose nearly 9% following the results.

Meanwhile, Raymond James upgraded AMD to Strong Buy, citing autonomous AI agents as a potential growth engine for server processors. The firm forecasts AMD data-center revenue could reach ~$201billion by 2030, including roughly $85 billion tied to agentic AI (Source: Raymond James, via Seeking Alpha, 25 Aug 2026)

Exhibits: Nvidia’s Quarterly Revenue Keeps Compounding / Agentic AI Anchors AMD’s Long-Term Growth Story

AI Models Are Getting Cheaper—But Compute Remains Scarce

Frontier-model median pricing has fallen 41% to $8, while open-weight pricing is down 66%to $0.21. Token usage has also surged, growing roughly 34× for frontier models, 84× for small models and 386× for open-weight models.

Yet GPU prices remain elevated. All five tracked GPUs are above their 2026 lows, with the A100-80GB still roughly 35% above its low.

‍

Exhibit:Compute Shortage Continues — GPU Pricing

Source: SkyPilot catalog git history ·$ per single GPU-hour · 5-week centred mean over every week · markers = the last 3 weeks, raw · indexed to 100 at 08/25, B200 at its 10/25 floor · average excludes B200.

----------------------------------------------------------------------------------------

As AI continues to reshape computing, software, and the broader economy, identifying the companies positioned to benefit from these long-term trends is becoming increasingly important. LRNZ seeks to provide concentrated exposure to companies at the forefront of AI and deep learning, focusing on businesses where advanced AI applications may create a distinct competitive advantage.

Learn more about the TrueShares Technology, AI & Deep Learning ETF(LRNZ)

Please click on the link to view the funds top ten holdings. Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security.

‍

TRUE779

Please click on the link to view the funds top ten holdings. Fund holdings and allocations are subject to change and should not be consideredrecommendations to buy or sell any security.

Before investing, carefully consider theTrueShares ETFs investment objectives, risks, charges and expenses. Specific information about TrueShares is contained in the prospectus and a summary prospectus, copies of which may be obtained by visiting www.www.true-shares.com. Read the prospectus carefully before you invest.

The fund is distributed by Paralel Distributors LLC,Member FINRA. Paralel is not affiliated with TrueMark Investments, LLC and BlackHill Capital Management.

For informational purposes only. The information provided does not constitute investment advice or a recommendation to buy, sell, or hold any security. References to specific securities are provided solely for illustrative purposes.  Opinions and forecasts are current only as of the date indicated, are subject to change without notice, and are not guarantees of future results. Forward-looking statements involve risks and uncertainties, and actual results may differ materially.

‍