Global TMT Analyst, Ex-PM, 30 years experience

Neil Campling

Thematic (Sector/Industry)

<ul>
<li>Generative AI seen through the lens of corporate earnings shows a lack of ROI or growth drivers in applications <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom (AVGO US)</a><a href="https://www.smartkarma.com/entities/hewlett-packard-enterprise-co" target="_blank" data-smartkarma-citation="entities:26511:1" rel="noopener">Hewlett Packard Enterprise (HPE US)</a>  <a href="https://www.smartkarma.com/entities/alphabet-inc" target="_blank" data-smartkarma-citation="entities:33361:1" rel="noopener">Alphabet (GOOGL US)</a> </li>
<li>U.S. semi equipment restrictions to China could negatively impact Tokyo Electron, ASML results in 2025 <a href="https://www.smartkarma.com/entities/asml-holding-nv" target="_blank" data-smartkarma-citation="entities:21097:1" rel="noopener">ASML Holding NV (ASML NA)</a><a href="https://www.smartkarma.com/entities/tokyo-electron-device-ltd" target="_blank" data-smartkarma-citation="entities:10301:1" rel="noopener">Tokyo Electron Device (2760 JP)</a> </li>
<li>Flagship global Tech conference in NYC suggests interest has picked up in global software above hardware in a notable shift</li>
</ul>


Generative AI seen through the lens of corporate earnings shows a lack of ROI or growth drivers in applications Broadcom (AVGO US)Hewlett Packard Enterprise (HPE US)  Alphabet (GOOGL US) 
U.S. semi equipment restrictions to China could negatively impact Tokyo Electron, ASML results in 2025 ASML Holding NV (ASML NA)Tokyo Electron Device (2760 JP) 
Flagship global Tech conference in NYC suggests interest has picked up in global software above hardware in a notable shift


Global Tech Weekly - Focus on AI, Semis, China V U.S., Software V Hardware. AI Party Ending?

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Bottom-Up

<ul>
<li>Beijing-Based 4Paradigm shares have underperformed the Hang Seng Index (+4.3%) in 2024 with shares down ~20% year-to-date. IPO investors are down ~28%.</li>
<li>I expect near-term selling pressure on the stock as IPO lockup ends in September and at least 265M shares will be available for sale by the end of next month.</li>
<li>4Paradigm has made considerable progress and with a clear profitability trajectory, the stock looks undervalued relative to peers in Mainland China and worldwide.</li>
</ul>


Beijing-Based 4Paradigm shares have underperformed the Hang Seng Index (+4.3%) in 2024 with shares down ~20% year-to-date. IPO investors are down ~28%.
I expect near-term selling pressure on the stock as IPO lockup ends in September and at least 265M shares will be available for sale by the end of next month.
4Paradigm has made considerable progress and with a clear profitability trajectory, the stock looks undervalued relative to peers in Mainland China and worldwide.


4Paradigm: Near-Term Selling Pressure May Persist As IPO Lockup Ends Next Month

<ul>
<li>4Paradigm, China’s AI software company with focus on enterprise-level solutions, performed well and achieved solid growth in 2023 and Q1 2024. </li>
<li>In my insight, I discuss valuation framework for comparable company analysis and set a new 12-month PT for 4Paradigm.</li>
<li>The company’s management has set a clear goal of profitability. I like 4Paradigm’s leadership position and hyper-growth in revenue from the Sage AI Platform.</li>
</ul>


4Paradigm, China’s AI software company with focus on enterprise-level solutions, performed well and achieved solid growth in 2023 and Q1 2024. 
In my insight, I discuss valuation framework for comparable company analysis and set a new 12-month PT for 4Paradigm.
The company’s management has set a clear goal of profitability. I like 4Paradigm’s leadership position and hyper-growth in revenue from the Sage AI Platform.


4Paradigm: Sage AI Platform 5.0. Could Drive ~30% Y/Y Revenue Growth in 2024, PT Raised To HK$100

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.

<ul><li>C3.ai Inc.'s 2024 fourth quarter financial results and their fiscal year report have illustrated continuous growth and increased profitability.</li><li>With a record revenue of $310.6 million for the full year, indicating a 16% increase from last year, and Q4 revenue at $86.6 million, the company has significantly exceeded analyst expectations and its own guidance estimates.</li><li>Its subscription revenue reached an impressive $278.1 million, a 21% rise from last year's figures.</li></ul>

C3.ai Inc.'s 2024 fourth quarter financial results and their fiscal year report have illustrated continuous growth and increased profitability.With a record revenue of $310.6 million for the full year, indicating a 16% increase from last year, and Q4 revenue at $86.6 million, the company has significantly exceeded analyst expectations and its own guidance estimates.Its subscription revenue reached an impressive $278.1 million, a 21% rise from last year's figures.

C3.ai Inc.: The Story Of Increasing Demand for Its Cutting-Edge Technology in the Defense Sector! - Major Drivers

<ul>
<li>This is our first report on AI software platform company, C3 AI. The company has demonstrated positive performance in their third-quarter fiscal 2024 results with a total revenue of $78.4 million, marking an 18% YoY growth and surpassing their guidance range.</li>
<li>The total number of customer engagements has also seen an increase of 80% compared to the previous year.</li>
<li>The company reported a non-GAAP gross profit of $54.7 million with a gross margin standing at 70%.</li>
</ul>


This is our first report on AI software platform company, C3 AI. The company has demonstrated positive performance in their third-quarter fiscal 2024 results with a total revenue of $78.4 million, marking an 18% YoY growth and surpassing their guidance range.
The total number of customer engagements has also seen an increase of 80% compared to the previous year.
The company reported a non-GAAP gross profit of $54.7 million with a gross margin standing at 70%.


C3.ai (AI):- Expansion Of The Generative AI Market & 3 Other Fundamental Aspects Fueling Its Growth!

United States

C3.ai, Inc. operates as a software company. The Company focuses on developing, deploying, and operating enterprise AI applications. C3.ai serves customers worldwide.

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C3.ai Inc (AI US)

Global Tech Weekly - Focus on AI, Semis, China V U.S., Software V Hardware. AI Party Ending?

AI related earnings exhibit a lack of ROI or uplift. Is the AI euphoria coming to an end? More U.S. sanctions could hurt Japan & European...

Neil Campling

4Paradigm: Near-Term Selling Pressure May Persist As IPO Lockup Ends Next Month

4Paradigm, a Beijing-based enterprise AI company, completed its initial public offering in 2023. Pre-IPO investors and shareholders may sell the...

Andrei Zakharov

4Paradigm: Sage AI Platform 5.0. Could Drive ~30% Y/Y Revenue Growth in 2024, PT Raised To HK$100

In my insight, I discuss valuation for 4Paradigm and set a new PT for China’s AI software company coupled with RV analysis and highlights from...

Andrei Zakharov

C3.ai Inc.: The Story Of Increasing Demand for Its Cutting-Edge Technology in the Defense Sector! - Major Drivers

C3.ai Inc.'s 2024 fourth quarter financial results and their fiscal year report have illustrated continuous growth and increased...

Baptista Research

C3.ai (AI):- Expansion Of The Generative AI Market & 3 Other Fundamental Aspects Fueling Its Growth!

This is our first report on AI software platform company, C3 AI. The company has demonstrated positive performance in their third-quarter fiscal...

Baptista Research

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