Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Marvell Technology Inc. recently reported its fourth quarter and fiscal year 2026 results, showcasing substantial growth and strategic positioning within the AI-empowered data center market.</li><li>The company achieved record revenue of $2.219 billion in the fourth quarter, a 7% sequential growth, indicating strong demand in the data center end market.</li><li>The full fiscal year 2026 saw a 42% year-over-year revenue increase to $8.2 billion, attributed mainly to the data center segment, growing 46% year-over-year.</li></ul>

Marvell Technology Inc. recently reported its fourth quarter and fiscal year 2026 results, showcasing substantial growth and strategic positioning within the AI-empowered data center market.The company achieved record revenue of $2.219 billion in the fourth quarter, a 7% sequential growth, indicating strong demand in the data center end market.The full fiscal year 2026 saw a 42% year-over-year revenue increase to $8.2 billion, attributed mainly to the data center segment, growing 46% year-over-year.

Marvell Technology: XPU Attach, AI Networking & Custom Solutions—A New Semiconductor Powerhouse?

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Thematic (Sector/Industry)

<ul>
<li>We tracked AI models, infrastructure, and deals this week: Zhipu identified Ox Alpha, OpenAI showed Jalapeno, and Nvidia pursued Hugging Face.</li>
<li>China labs added Qwen, Tencent Hunyuan and Doubao updates, while DeepSeek changed weekend pricing and MiniMax and SenseTime reported results.</li>
<li>Hyperscaler movements covered Nscale, Amazon, Lambda, Volta, Iren, MTN and Yotta. OpenRouter still showed Anthropic ahead in revenue share.</li>
</ul>


We tracked AI models, infrastructure, and deals this week: Zhipu identified Ox Alpha, OpenAI showed Jalapeno, and Nvidia pursued Hugging Face.
China labs added Qwen, Tencent Hunyuan and Doubao updates, while DeepSeek changed weekend pricing and MiniMax and SenseTime reported results.
Hyperscaler movements covered Nscale, Amazon, Lambda, Volta, Iren, MTN and Yotta. OpenRouter still showed Anthropic ahead in revenue share.


This Week in AI (Aug 23-29): Ox Alpha and Jalapeno; Nvidia Eyes Hugging Face

<ul><li>Marvell Technology has entered 2026 with accelerating momentum in artificial intelligence infrastructure, record quarterly revenue, and a sharpened focus on high-performance connectivity.</li><li>Following the divestiture of its Automotive Ethernet business and the strategic acquisition of Celestial AI to strengthen its photonics roadmap, the company has now completed the acquisition of XConn Technologies, a specialist in advanced PCIe and CXL switching silicon.</li><li>The transaction adds scale-up connectivity capabilities at a time when hyperscalers are rapidly evolving AI clusters from single-rack deployments to multi-rack, high-bandwidth architectures.</li></ul>

Marvell Technology has entered 2026 with accelerating momentum in artificial intelligence infrastructure, record quarterly revenue, and a sharpened focus on high-performance connectivity.Following the divestiture of its Automotive Ethernet business and the strategic acquisition of Celestial AI to strengthen its photonics roadmap, the company has now completed the acquisition of XConn Technologies, a specialist in advanced PCIe and CXL switching silicon.The transaction adds scale-up connectivity capabilities at a time when hyperscalers are rapidly evolving AI clusters from single-rack deployments to multi-rack, high-bandwidth architectures.

Marvell’s AI Roadmap Just Got Deeper—Thanks To The XConn Acquisition!

<ul><li>Marvell Technology has announced a major strategic leap with the acquisition of Celestial AI in a $3.25 billion cash-and-stock deal, signaling its most aggressive push yet into next-generation photonic interconnects.</li><li>The deal, unveiled alongside its record-setting Q3 FY2026 earnings, arrives amid a sharp inflection point in AI infrastructure and hyperscale data center buildouts.</li><li>Celestial AI’s core technology—a disruptive Photonic Fabric platform designed for ultra-high bandwidth and low-latency optical connectivity—is expected to slot directly into Marvell’s Data Center Group portfolio, fueling growth well beyond traditional copper-based architectures.</li></ul>

Marvell Technology has announced a major strategic leap with the acquisition of Celestial AI in a $3.25 billion cash-and-stock deal, signaling its most aggressive push yet into next-generation photonic interconnects.The deal, unveiled alongside its record-setting Q3 FY2026 earnings, arrives amid a sharp inflection point in AI infrastructure and hyperscale data center buildouts.Celestial AI’s core technology—a disruptive Photonic Fabric platform designed for ultra-high bandwidth and low-latency optical connectivity—is expected to slot directly into Marvell’s Data Center Group portfolio, fueling growth well beyond traditional copper-based architectures.

Marvell Technology Acquires Celestial AI—A $3.25B Gamble on the Future!

Weekly podcast series by SemiWiki.com, SemiWiki.com

SemiWiki.com

Weekly podcast series by SemiWiki.com

Semiconductor Insiders: A weekly podcast series by SemiWiki.com, the open forum for semiconductor professionals.

<ul>
<li>Acquisition of business in 2019 led to creation of Avera Semi, later acquired by Marvell</li>
<li>Power constraints in data centers driving focus on power-efficient technologies like dye to dye interfaces</li>
<li>Marvell's bidirectional data transfer over a single wire is key for optimizing power consumption and increasing bandwidth density</li>
</ul>
<p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>


Acquisition of business in 2019 led to creation of Avera Semi, later acquired by Marvell
Power constraints in data centers driving focus on power-efficient technologies like dye to dye interfaces
Marvell's bidirectional data transfer over a single wire is key for optimizing power consumption and increasing bandwidth density

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Podcast EP329: How Marvell Is Addressing the Power Problem for Advanced Data Centers

United States

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

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Marvell Technology (MRVL US)

Marvell Technology: XPU Attach, AI Networking & Custom Solutions—A New Semiconductor Powerhouse?

Marvell Technology Inc. recently reported its fourth quarter and fiscal year 2026 results, showcasing substantial growth and strategic positioning...

Baptista Research

This Week in AI (Aug 23-29): Ox Alpha and Jalapeno; Nvidia Eyes Hugging Face

This week in AI: Ox Alpha is Zhipu's GLM-5.3-Flash; OpenAI tests Jalapeno against GB300; Nvidia eyes Hugging Face as Moonshot talks with US cloud...

Ke Yan, CFA, FRM

Marvell’s AI Roadmap Just Got Deeper—Thanks To The XConn Acquisition!

Marvell Technology has entered 2026 with accelerating momentum in artificial intelligence infrastructure, record quarterly revenue, and a...

Baptista Research

Marvell Technology Acquires Celestial AI—A $3.25B Gamble on the Future!

Marvell Technology has announced a major strategic leap with the acquisition of Celestial AI in a $3.25 billion cash-and-stock deal, signaling its...

Baptista Research

Podcast EP329: How Marvell Is Addressing the Power Problem for Advanced Data Centers

Marvell's acquisition in 2019 highlighted their focus on custom semiconductors, particularly in optimizing power through their dye to dye interface...

SemiWiki.com

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