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>Broadcom Inc. reported a strong start to fiscal 2026, with results driven primarily by accelerated demand in artificial intelligence semiconductors and continued operating leverage across its business.</li><li>Revenue reached a record level, supported by significant growth in semiconductor solutions, particularly custom AI accelerators and networking components.</li><li>This translated into high profitability, with adjusted EBITDA margins remaining elevated, reflecting both scale advantages and disciplined cost management.</li></ul>

Broadcom Inc. reported a strong start to fiscal 2026, with results driven primarily by accelerated demand in artificial intelligence semiconductors and continued operating leverage across its business.Revenue reached a record level, supported by significant growth in semiconductor solutions, particularly custom AI accelerators and networking components.This translated into high profitability, with adjusted EBITDA margins remaining elevated, reflecting both scale advantages and disciplined cost management.

Broadcom Inc. Is Building Gigawatt-Scale AI Infrastructure—Could This Trigger A Massive Revenue Surge?

<ul><li>Broadcom Inc. is increasingly being treated as a major beneficiary of artificial intelligence spending, but the more revealing development is not simply that it has won another important commercial relationship.</li><li>The deeper shift is that AI is starting to look less like a pure software race and more like a capacity-constrained infrastructure market in which compute access, supply assurance, and long-term deployment visibility shape outcomes.</li><li>Broadcom’s expanded arrangement with Google LLC covers custom TPUs, networking equipment, and AI data center components through 2031, while Anthropic’s planned access to roughly 3.5 gigawatts of TPU-based compute beginning in 2027 points to a world where AI capacity is being reserved well before end demand is fully proven.</li></ul>

Broadcom Inc. is increasingly being treated as a major beneficiary of artificial intelligence spending, but the more revealing development is not simply that it has won another important commercial relationship.The deeper shift is that AI is starting to look less like a pure software race and more like a capacity-constrained infrastructure market in which compute access, supply assurance, and long-term deployment visibility shape outcomes.Broadcom’s expanded arrangement with Google LLC covers custom TPUs, networking equipment, and AI data center components through 2031, while Anthropic’s planned access to roughly 3.5 gigawatts of TPU-based compute beginning in 2027 points to a world where AI capacity is being reserved well before end demand is fully proven.

Broadcom’s Latest Deals Signal A Major Shift In How AI Will Be Won!

Hedge Fund News, Information and Data, Hedge Fund Alpha

Hedge Fund Alpha

Hedge Fund News, Information and Data

We focus on hedge funds with a bias towards emerging managers, specifically fundamental long-short managers. We are known for a lot of insights and exclusives on hedge fund letters, coverage of industry conferences, and interviews with investors and interesting service providers.

Thematic (Sector/Industry)

<ul><li>Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and AI-related stocks.</li><li>The sell-off proved particularly severe in semiconductors, which fell 20% after gaining 88% over the preceding three months.</li><li>Despite the correction, hedge fund manager James Sanders remains constructive on the fundamental outlook and continues to see strong long-term potential in AI infrastructure.</li></ul>

Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and AI-related stocks.The sell-off proved particularly severe in semiconductors, which fell 20% after gaining 88% over the preceding three months.Despite the correction, hedge fund manager James Sanders remains constructive on the fundamental outlook and continues to see strong long-term potential in AI infrastructure.

Green Ash Horizon Fund Falls 10% in July as AI and Semiconductor Momentum Reverses

Adventurous Investing For Grown Ups, The Adventurous Investor

Adventurous Investor

Adventurous Investing For Grown Ups

The Adventurous Investor

Introducing private investors to adventurous investment ideas. What does this mean in practice? I’d identify several core themes: Exchange-traded funds (ETFs) both in the US and the UK. I’ll look both at the theory underlying these very popular funds as well as the constant stream of new launches. I’ll also feature some model portfolios, with a simple mix of ETFs to suit all tastes. Alternative investment ideas. This is a deliberately wide brief but takes in everything from real asset-backed funds (property and infrastructure for instance) through to music and art…and most things in between. I’ll also journey on adventures overseas and look at alternative emerging and frontier countries and markets that should feature in your portfolio. From Russia to Africa and plenty of exciting places in between. For a UK audience I will also continue to regularly analyze and comment on the listed closed-end fund segment and investment trusts. Last but by no means least I’ll try and make sense of the big macro stories that impact investors. I’ll also weave into this my own slightly idiosyncratic views which I’m afraid mark me out as a liberal/ social-democratic inclined centrist Dad (which is I fear sometimes seen as a tag of shame in these radicalized days).

Cross Asset Strategy

<ul><li>Macro-wise, next week is crucial for labour market data, culminating in August’s US employment report (Fri), along with ISM’s manufacturing and services PMIs, revised Q2 productivity, and the Fed’s Beige Book.</li><li>The Bank of Canada meets Wednesday and is expected to hold. Palo Alto Networks, Broadcom, and Snowflake report earnings this week, following the strong reception given to Nvidia, Salesforce, and CrowdStrike last week.</li><li>The ISM surveys (manufacturing Tuesday, services Thursday) will also be closely watched as real-time indicators of whether the US economy is cooling in line with the softer labour data. </li></ul>

Macro-wise, next week is crucial for labour market data, culminating in August’s US employment report (Fri), along with ISM’s manufacturing and services PMIs, revised Q2 productivity, and the Fed’s Beige Book.The Bank of Canada meets Wednesday and is expected to hold. Palo Alto Networks, Broadcom, and Snowflake report earnings this week, following the strong reception given to Nvidia, Salesforce, and CrowdStrike last week.The ISM surveys (manufacturing Tuesday, services Thursday) will also be closely watched as real-time indicators of whether the US economy is cooling in line with the softer labour data. 

Weekly letter: Warsh reassures bond investors and hurts gold prices, Nvidia’s impressive numbers...

<ul><li>Broadcom Inc.'s first quarter fiscal year 2026 financial results show a robust financial position characterized by record revenues and strong growth driven primarily by advancements in AI semiconductor solutions.</li><li>The company's total revenue for the quarter reached $19.3 billion, reflecting a substantial 29% increase year-over-year, which surpassed expectations, largely fueled by better-than-anticipated growth in AI semiconductors.</li><li>An impressive adjusted EBITDA of $13.1 billion, representing 68% of revenue, underscores Broadcom's strong operating leverage.</li></ul>

Broadcom Inc.'s first quarter fiscal year 2026 financial results show a robust financial position characterized by record revenues and strong growth driven primarily by advancements in AI semiconductor solutions.The company's total revenue for the quarter reached $19.3 billion, reflecting a substantial 29% increase year-over-year, which surpassed expectations, largely fueled by better-than-anticipated growth in AI semiconductors.An impressive adjusted EBITDA of $13.1 billion, representing 68% of revenue, underscores Broadcom's strong operating leverage.

Broadcom: Custom AI Silicon Is Exploding—Why Hyperscalers Are Racing To Build Their Own Chips!

United States

Broadcom Inc. designs, develops, and supplies semiconductor and infrastructure software solutions. The Company offers storage adapters, controllers, networking processors, motion control encoders, and optical sensors, as well as infrastructure and security software to modernize, optimize, and secure the most complex hybrid environments. Broadcom serves customers worldwide.

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Broadcom (AVGO US)

Broadcom Inc. Is Building Gigawatt-Scale AI Infrastructure—Could This Trigger A Massive Revenue Surge?

Broadcom Inc. reported a strong start to fiscal 2026, with results driven primarily by accelerated demand in artificial intelligence...

Baptista Research

Broadcom’s Latest Deals Signal A Major Shift In How AI Will Be Won!

Broadcom Inc. is increasingly being treated as a major beneficiary of artificial intelligence spending, but the more revealing development is not...

Baptista Research

Green Ash Horizon Fund Falls 10% in July as AI and Semiconductor Momentum Reverses

Green Ash Horizon Fund fell 10.02% in July, sharply underperforming the MSCI World’s 0.51% gain as a broad momentum unwind hit technology and...

Hedge Fund Alpha

Weekly letter: Warsh reassures bond investors and hurts gold prices, Nvidia’s impressive numbers...

The ISM surveys (manufacturing Tuesday, services Thursday) will also be closely watched as real-time indicators of whether the US economy is...

Adventurous Investor

Broadcom: Custom AI Silicon Is Exploding—Why Hyperscalers Are Racing To Build Their Own Chips!

Broadcom Inc.'s first quarter fiscal year 2026 financial results show a robust financial position characterized by record revenues and strong...

Baptista Research

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