Technology / Semiconductor / Internet Research

Nicolas Baratte

Equity Bottom-Up

<ul>
<li>Companies exude confidence and unanimously explain that AI is the fastest growing revenue segment ever.  AI leads to revenue growth, increase in volume, higher pricing, higher engagement. </li>
<li>Companies also explain that AI today only reflects a small part of long-term planning. AI is a decade long transformation of how we work, search for information or buy products.  </li>
<li>Meta and Microsoft see equipment delays and are capacity constrained in 2024. Capex will increase in 2025. </li>
</ul>


Companies exude confidence and unanimously explain that AI is the fastest growing revenue segment ever.  AI leads to revenue growth, increase in volume, higher pricing, higher engagement. 
Companies also explain that AI today only reflects a small part of long-term planning. AI is a decade long transformation of how we work, search for information or buy products.  
Meta and Microsoft see equipment delays and are capacity constrained in 2024. Capex will increase in 2025. 


Google, Meta, Microsoft: What Did They Say About AI, Capex and Revenues?

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Advanced Micro Devices / Equity Bottom-Up

<ul>
<li>Q324 revenues of $6.8 billion, $100 million above the guided midpoint, up 17% QoQ and up18% YoY.</li>
<li>Q424 forecast $7.5 billion, plus or minus $300 million. At the midpoint of the revenue range, this represents YoY growth of ~22% and sequential growth of ~10%.</li>
<li>AMD's share price is now roughly the same as it was at the start of 2022, <em><strong>before</strong></em> their DC GPU goldmine was uncovered. Feel free to help yourself...</li>
</ul>


Q324 revenues of $6.8 billion, $100 million above the guided midpoint, up 17% QoQ and up18% YoY.
Q424 forecast $7.5 billion, plus or minus $300 million. At the midpoint of the revenue range, this represents YoY growth of ~22% and sequential growth of ~10%.
AMD's share price is now roughly the same as it was at the start of 2022, before their DC GPU goldmine was uncovered. Feel free to help yourself...


AMD Q324. Now Trading At Early 2022 Levels, Prior To The DC GPU Goldmine..

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations</li>
<li>MediaTek Poised to Benefit from the ARM and Qualcomm Dispute</li>
<li>Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece</li>
</ul>


TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations
MediaTek Poised to Benefit from the ARM and Qualcomm Dispute
Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece


Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>Nvidia is not upset with TSMC after all. Samsung is losing another customer to TSMC at 3nm</li>
<li>Legacy Foundry Overcapacity as Chinese firms are over-extending, expect Pricing Pressure (GlobalFoundries, Hua Hong, SMIC, UMC)</li>
<li>Progress in China: new Loongson CPU and GPU. Lithography Photoresist</li>
</ul>


Nvidia is not upset with TSMC after all. Samsung is losing another customer to TSMC at 3nm
Legacy Foundry Overcapacity as Chinese firms are over-extending, expect Pricing Pressure (GlobalFoundries, Hua Hong, SMIC, UMC)
Progress in China: new Loongson CPU and GPU. Lithography Photoresist


Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Nvidia and Reliance Partner to Build AI Infrastructure in India</li>
<li>NMDC Raises Iron Ore Prices by Over 18% Since August</li>
<li>GMR Group Raises INR 6,300 Crore from ADIA for Debt Refinancing</li>
</ul>


Nvidia and Reliance Partner to Build AI Infrastructure in India
NMDC Raises Iron Ore Prices by Over 18% Since August
GMR Group Raises INR 6,300 Crore from ADIA for Debt Refinancing


# 68 India Insight: Nvidia & Reliance Partnership, NMDC Price Raise, GMR INR 6,300 Crore from ADIA

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Google, Meta, Microsoft: What Did They Say About AI, Capex and Revenues?

Is AI really increasing revenues, profitability? There is still considerable doubt within the investors community on the "reality" of AI, or its...

Nicolas Baratte

AMD Q324. Now Trading At Early 2022 Levels, Prior To The DC GPU Goldmine..

Q324 revenue $6.8 billion, +17% QoQ, +18% YoY. Q424 forecast $7.5 billion, +10% QoQ, +22% YoY. Share fall 8% after hours, now trading back at early...

William Keating

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nicolas Baratte

# 68 India Insight: Nvidia & Reliance Partnership, NMDC Price Raise, GMR INR 6,300 Crore from ADIA

Nvidia and Reliance collaborate on AI infrastructure in India, NMDC hikes iron ore prices by 18%, GMR Group secures INR 6,300 crore from ADIA for...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Google, Meta, Microsoft: What Did They Say About AI, Capex and Revenues?

Is AI really increasing revenues, profitability? There is still considerable doubt within the investors community on the "reality" of AI, or its...

Nicolas Baratte

AMD Q324. Now Trading At Early 2022 Levels, Prior To The DC GPU Goldmine..

Q324 revenue $6.8 billion, +17% QoQ, +18% YoY. Q424 forecast $7.5 billion, +10% QoQ, +22% YoY. Share fall 8% after hours, now trading back at early...

William Keating

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

​TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

Tech News This Week: TSMC, NVIDIA, Samsung, Legacy Semi, China Semi

​Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nicolas Baratte

# 68 India Insight: Nvidia & Reliance Partnership, NMDC Price Raise, GMR INR 6,300 Crore from ADIA

​Nvidia and Reliance collaborate on AI infrastructure in India, NMDC hikes iron ore prices by 18%, GMR Group secures INR 6,300 crore from ADIA for...

Sudarshan Bhandari

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Nvidia's Blackwell GPU problems were Nvidia's doing, not TSMC. Samsung loses customer to TSMC at 3nm. Legacy Foundry face overcapacity, pricing...

Nvidia and Reliance collaborate on AI infrastructure in India, NMDC hikes iron ore prices by 18%, GMR Group secures INR 6,300 crore from ADIA for...