No, we're not talking about Social Security. "Generational" is how some analysts describe the current transfer of money from hyperscalers to chipmakers.
Why it matters: The chip stock boom that preceded the current malaise was based on that simple reality, which is reflected in the above chart.
In short, the massive investments that hyperscalers are making in "compute" are pumping cash into the coffers of the companies that make the products they need — computer chips foremost among them.
