Microsoft plans Maia 300 AI chip unveil in September

Microsoft's custom silicon push to cut Nvidia dependency, targeting 300K+ units by 2027, talks with Anthropic for adoption, TSMC capacity negotiations. Signals growing custom chip race and potential impact on GPU pricing and cloud competition. Meanwhile, Microsoft's $175B capex for fiscal 2026 (up 80%) with Azure growing 43% and Copilot hitting 30M seats highlights the tension between AI infrastructure investment and margin pressure.