In today’s briefing:
- CoreWeave Inc. (CRWV): IPO Valuation Is Fair for AI Industry Believers
- EPAM Systems: AI, Cloud & Expansion—Is This the Next IT Powerhouse?
- Alphabet’s $32 Billion Bet On Wiz: A Desperate Move or a Strategic Masterstroke?
- Tech Supply Chain Tracker (22-Mar-2025): Wingtech sells ODM assets to Luxshare.
- Q3 Follow-Up: Japan System Techniques (4323 JP) – March 11, 2025
- Autodesk Under Seige: Activist Starboard’s Proxy Battle & What It Means for Shareholders!
- Tower Semiconductor: Can It Capitalize On The Emergence Of OLED On Silicon As A Growth Opportunity?
- Onto Innovation: The Advanced Nodes Market Is A SOLID Opportunity But Can They Capitalize?
- Nemetschek (NEM GR): Overdelivering on Promises
- Riskified’s Takeover Buzz: Why This AI Fraud Protection Giant is a Hot M&A Target!
CoreWeave Inc. (CRWV): IPO Valuation Is Fair for AI Industry Believers
- The valuation of the company in our opinion is “fair” and not “stretching the limit” for investors who believe in AI industry trends.
- A channel check of this offering revealed that the deal is considered well-oversubscribed with early 1-on-1 conversions and a strong shadow book.
- The company is a growth story through and through. They have grown from $16m in revenue in 2022 to $1.9bn in 2024 – the year-over-year growth in 2024 was 737%.
EPAM Systems: AI, Cloud & Expansion—Is This the Next IT Powerhouse?
- EPAM Systems Inc. reported its fourth quarter and full-year 2024 performance showing mixed results, noting both achievements and challenges.
- During the fourth quarter, the company experienced revenue growth of 7.9% on a reported basis, including the effects of recent acquisitions, NEORIS and First Derivative.
- On an organic constant currency basis, revenue grew a modest 1% year-over-year, marking a return to organic growth for the first time since early 2023.
Alphabet’s $32 Billion Bet On Wiz: A Desperate Move or a Strategic Masterstroke?
- Alphabet Inc., Google’s parent company, has officially announced its largest acquisition to date, agreeing to purchase cybersecurity startup Wiz for $32 billion in cash.
- The move comes after Wiz rejected a $23 billion offer from Alphabet last year, opting instead to explore an IPO.
- However, with the regulatory landscape shifting under U.S. President Donald Trump’s administration, Wiz’s leadership reconsidered the deal, ultimately securing an extra $9 billion from Google in less than a year.
Tech Supply Chain Tracker (22-Mar-2025): Wingtech sells ODM assets to Luxshare.
- Wingtech sells ODM assets to Luxshare as they shift focus towards semiconductors, a strategic move for the Apple supplier.
- India’s PLI scheme falls short of goals, prompting a shift towards offering factory subsidies instead to incentivize growth in the industry.
- Taiwan’s IPC industry feels the impact of US tariffs, while Foxconn remains tight-lipped on potential collaboration with Mitsubishi Motors.
Q3 Follow-Up: Japan System Techniques (4323 JP) – March 11, 2025
- Japan System Techniques (hereafter, the Company) announced its Q3(9M)
- Key consolidated figures net sales of JPY 20,549 mn (+10.9% YoY), operating profit of JPY 2,041 mn (+26.5% YoY), ordinary profit of JPY 2,116 mn (+28.4% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 1,417 mn (+28.9% YoY).
- Higher sales and profits in the DX&SI business and Package business contributed in Q3 earnings growth.
Autodesk Under Seige: Activist Starboard’s Proxy Battle & What It Means for Shareholders!
- Autodesk Inc. is at the center of a high-stakes battle as activist hedge fund Starboard Value LP moves forward with a proxy fight, citing financial underperformance and management credibility concerns.
- After months of behind-the-scenes pressure, Starboard has decided to nominate a minority slate of directors to Autodesk’s board, setting the stage for a potential leadership shake-up.
- The move comes after a series of turbulent events at Autodesk, including an accounting investigation that led to a CFO replacement, a shift in the company’s sales model, and a recent decision to cut 9% of its workforce.
Tower Semiconductor: Can It Capitalize On The Emergence Of OLED On Silicon As A Growth Opportunity?
- Tower Semiconductor’s recent earnings call for the fourth quarter and fiscal year 2024 highlighted several key financial and strategic elements impacting the company’s market performance.
- The company reported an annual revenue of $1.44 billion, marking a year-over-year growth in its fourth quarter revenue by 10% and overall a sequential annual growth of 18%.
- Net profit stood at $208 million, reflecting a stable financial performance with a net profit margin of about 14%.
Onto Innovation: The Advanced Nodes Market Is A SOLID Opportunity But Can They Capitalize?
- Onto Innovation reported strong financial results for the fourth quarter and full year of 2024, highlighting the company’s continued growth across its markets.
- The company logged its sixth consecutive quarter of growth, achieving a new quarterly revenue record of $264 million, marking a 21% increase from the previous year.
- This growth was largely driven by the specialty devices and advanced packaging markets, particularly propelled by robust demand in AI packaging.
Nemetschek (NEM GR): Overdelivering on Promises
- Nemetschek’s share price has risen 17% since the FY 2024 pre-announcement, with management forecasting a 17-19% revenue increase for 2025, driven by growth in the Build division and Bluebeam subscriptions.
- It has made significant progress in its transition to subscriptions, with these accounting for 57% of revenue. This shift is expected to drive further growth, particularly in Design by 2027.
- Nemetschek is advancing towards becoming a software platform, with adoption of BIM and digital twins, alongside the integration of AI across its solutions to streamline workflows in AEC.
Riskified’s Takeover Buzz: Why This AI Fraud Protection Giant is a Hot M&A Target!
- Riskified, a company focused on e-commerce fraud and risk intelligence, reported its financial performance for the fourth quarter and full year of 2024.
- The company achieved $327.5 million in revenue, marking a 10% year over-year growth and surpassing the high end of its guidance.
- Despite this achievement, the annual dollar retention (ADR) and net dollar retention (NDR) rates fell short of historical benchmarks, a point of concern for potential investors.
Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
Unlock all research summaries