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 M&amp;A this week: Ox Alpha appeared on OpenRouter and Stripe agreed to buy OpenRouter.</li>
<li>DeepSeek added vision to V4 Flash, OpenAI paused Astra RL work, and Alibaba and Baidu reported faster AI-linked growth.</li>
<li>YMTC moved toward a Shanghai IPO, Nvidia backed OpenAI capacity, and Anthropic added IPO banks and credit capacity.</li>
</ul>


We tracked AI models, infrastructure, and M&amp;A this week: Ox Alpha appeared on OpenRouter and Stripe agreed to buy OpenRouter.
DeepSeek added vision to V4 Flash, OpenAI paused Astra RL work, and Alibaba and Baidu reported faster AI-linked growth.
YMTC moved toward a Shanghai IPO, Nvidia backed OpenAI capacity, and Anthropic added IPO banks and credit capacity.


This Week in AI (Aug 16-22): Mysterious Ox Alpha Model; Stripe Buys OpenRouter; YMTC's IPO

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 has made headlines with its definitive agreement to acquire XConn Technologies, a San Jose-based provider of PCIe and CXL switching silicon, in a deal valued at approximately $540 million.</li><li>Structured as a mix of 60% cash and 40% stock—equating to around 2.5 million Marvell shares—the acquisition is poised to close in early 2026.</li><li>This move comes as part of Marvell's broader strategy to enhance its position in the fast-growing AI and cloud data center market, particularly in high-performance connectivity infrastructure.</li></ul>

Marvell Technology has made headlines with its definitive agreement to acquire XConn Technologies, a San Jose-based provider of PCIe and CXL switching silicon, in a deal valued at approximately $540 million.Structured as a mix of 60% cash and 40% stock—equating to around 2.5 million Marvell shares—the acquisition is poised to close in early 2026.This move comes as part of Marvell's broader strategy to enhance its position in the fast-growing AI and cloud data center market, particularly in high-performance connectivity infrastructure.

Marvell Snaps Up XConn: The $540M Play to Beat Nvidia & Broadcom?

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in Shariah compliant companies with superior sustainability features / initiatives.</li><li>These Shariah compliant companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG</li><li>3) included as their business models may not only benefit from but also may drive long-term sustainability outcomes; and 4) committed to generating positive, measurable and additional sustainability outcomes.</li></ul>

The strategy seeks to invest in Shariah compliant companies with superior sustainability features / initiatives.These Shariah compliant companies may be: 1) screened by avoiding issuers with negative ESG; 2) uplifted due to their commitment to improve ESG3) included as their business models may not only benefit from but also may drive long-term sustainability outcomes; and 4) committed to generating positive, measurable and additional sustainability outcomes.

Global Sustainability (Shariah) Portfolio (18-Aug-2026)

<ul><li>The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant. </li><li><p>The fund managers followed are: Berkshire Hathaway Inc (Warren Buffet, Greg Abel) , Duquesne Family Office LLC (Stanley Druckenmiller), etc</p></li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across  countries and industries; and optimised with respect to their expected risks and returns.</li></ul>

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah compliant. The fund managers followed are: Berkshire Hathaway Inc (Warren Buffet, Greg Abel) , Duquesne Family Office LLC (Stanley Druckenmiller), etcBy adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across  countries and industries; and optimised with respect to their expected risks and returns.

Global Top Fund Managers (Shariah) Portfolio (18-Aug-2026)

<ul><li>The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers.</li><li>The fund managers followed are: Berkshire Hathaway Inc (Warren Buffet, Greg Abel), Duquesne Family Office LLC (Stanley Druckenmiller)....</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li></ul>

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers.The fund managers followed are: Berkshire Hathaway Inc (Warren Buffet, Greg Abel), Duquesne Family Office LLC (Stanley Druckenmiller)....By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.

Global Top Fund Managers Portfolio (18-Aug-2026)

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)

This Week in AI (Aug 16-22): Mysterious Ox Alpha Model; Stripe Buys OpenRouter; YMTC's IPO

This week in AI: Ox Alpha appears on OpenRouter; Stripe buys OpenRouter for over USD 7bn; OpenAI pauses Astra RL; YMTC files Shanghai IPO.

Ke Yan, CFA, FRM

Marvell Snaps Up XConn: The $540M Play to Beat Nvidia & Broadcom?

Marvell Technology has made headlines with its definitive agreement to acquire XConn Technologies, a San Jose-based provider of PCIe and CXL...

Baptista Research

Global Sustainability (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in Shariah compliant companies with superior sustainability features / initiatives. These Shariah compliant companies...

Crea8

Global Top Fund Managers (Shariah) Portfolio (18-Aug-2026)

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers, but limited to those that are Shariah...

Crea8

Global Top Fund Managers Portfolio (18-Aug-2026)

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers. The fund managers followed are: Berkshire Hathaway...

Crea8

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