Equity Analyst - Technology & Healthcare

Norm Kumar

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

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Cross-Asset & Quantitative Research

Thematic (Sector/Industry)

For all the talk of crypto mining generating significant revenue for Nvidia it is important to realize that Bitmain Technologies crypto mining ASICs, a private Chinese chipmaker, are thought to generate as much as 80% of the world’s cryptocoins. As we have highlights in a past post, Sanford Bernstein estimates that Bitmain generates up to $3B of profits per year (similar to Nvidia). The Company’s first offering is the Sophon Chip. What makes Bitmain a serious player is the simple fact that they have a strong position in China<a href="https://pennockideahub.us11.list-manage.com/track/click?u=de87fbca24fe3521f22de5c47&amp;id=1365dad3af&amp;e=ff323e252d" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&amp;q=https://pennockideahub.us11.list-manage.com/track/click?u%3Dde87fbca24fe3521f22de5c47%26id%3D1365dad3af%26e%3Dff323e252d&amp;source=gmail&amp;ust=1527263908532000&amp;usg=AFQjCNGK111hwHAb0z7d5gKnROnbLipnWw">The World’s Dominant Crypto-Mining Company Wants to Own AI</a>Our Take:Bitmain poses a real threat in the market to incumbent Nvidia. China has previously announced a desire to become the world leader in AI and has backed this up with funding and incentives. Recent threats to Chinese technology companies from the US government highlight the need to reduce their dependency on US technology. China alone represents a sizeable market opportunity. The Company has a proven track record at developing chips quickly. If they can back this up with innovation then they stand a good chance to become a market leader.

For all the talk of crypto mining generating significant revenue for Nvidia it is important to realize that Bitmain Technologies crypto mining ASICs, a private Chinese chipmaker, are thought to generate as much as 80% of the world’s cryptocoins. As we have highlights in a past post, Sanford Bernstein estimates that Bitmain generates up to $3B of profits per year (similar to Nvidia). The Company’s first offering is the Sophon Chip. What makes Bitmain a serious player is the simple fact that they have a strong position in ChinaThe World’s Dominant Crypto-Mining Company Wants to Own AIOur Take:Bitmain poses a real threat in the market to incumbent Nvidia. China has previously announced a desire to become the world leader in AI and has backed this up with funding and incentives. Recent threats to Chinese technology companies from the US government highlight the need to reduce their dependency on US technology. China alone represents a sizeable market opportunity. The Company has a proven track record at developing chips quickly. If they can back this up with innovation then they stand a good chance to become a market leader.

A Potential New and Formidable Entrant into the AI Semiconductor Space: AI Readings

Canada

Kinaxis, Inc. provides planning and response management solutions. The Company offers a enterprise cloud service for manufacturers and brand owners to drive multiple supply chain management, sales and operations planning, and other connected functions from a single product. Kinaxis serves clients worldwide.

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Kinaxis Inc (KXS CN)

A Potential New and Formidable Entrant into the AI Semiconductor Space: AI Readings

For all the talk of crypto mining generating significant revenue for Nvidia it is important to realize that Bitmain Technologies crypto mining...

Norm Kumar

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