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>Core Scientific's first quarter fiscal year 2025 results highlight its strategic pivot towards high-density colocation infrastructure, driven largely by its significant agreements with CoreWeave.</li><li>This strategic focus is shaped by the growing demand for advanced computing capabilities informed by AI-driven infrastructures, representing both opportunities and challenges for the company's future.</li><li>A pivotal point in Core Scientific's strategy is its collaboration with CoreWeave, which underpins its expansion into AI-focused datacenter infrastructure.</li></ul>

Core Scientific's first quarter fiscal year 2025 results highlight its strategic pivot towards high-density colocation infrastructure, driven largely by its significant agreements with CoreWeave.This strategic focus is shaped by the growing demand for advanced computing capabilities informed by AI-driven infrastructures, representing both opportunities and challenges for the company's future.A pivotal point in Core Scientific's strategy is its collaboration with CoreWeave, which underpins its expansion into AI-focused datacenter infrastructure.

Core Scientific’s $3.7 Billion Puzzle: Why CoreWeave Might Be Ready to Buy a Loss-Making Giant

Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.</li><li>Imagine this, you just bought 100,000 GPUs from Nvidia and you don’t have a place to put them or the power to feed them.</li><li>Not being first to market is a huge cost, as the GPU pay back times are very quick right now even for the H100.</li></ul>

There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.Imagine this, you just bought 100,000 GPUs from Nvidia and you don’t have a place to put them or the power to feed them.Not being first to market is a huge cost, as the GPU pay back times are very quick right now even for the H100.

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

<ul>
<li>Bubble fears and a broad market selloff have dragged down the stocks of neocloud companies and bitcoin miners pivoting to AI.</li>
<li>These firms have their challenges: supply chain issues, growing debt loads, uncertainty about Nvidia chip lifespans, and the rapid drop in bitcoin prices.</li>
<li>Power’s still a prized asset – so, if investor sentiment improves, miners with strong energy assets and Nebius, with its loaded contract pipeline, could be the first to benef</li>
</ul>


Bubble fears and a broad market selloff have dragged down the stocks of neocloud companies and bitcoin miners pivoting to AI.
These firms have their challenges: supply chain issues, growing debt loads, uncertainty about Nvidia chip lifespans, and the rapid drop in bitcoin prices.
Power’s still a prized asset – so, if investor sentiment improves, miners with strong energy assets and Nebius, with its loaded contract pipeline, could be the first to benef


The Shine’s Come Off The Neocloud Trade, But That Could Be An Opportunity

<ul>
<li>AI’s evolving every second of every day, and so are the boom’s best investing plays. Early this year, I called out SoftBank Group as a prime AI opportunity.</li>
<li>A wide discount to NAV offered a cheap way to invest in Arm and tech, but that's narrowed after Softbank's 150% share price rally - and more limited NAV growth.</li>
<li>So I’ve taken a fresh look at SoftBank, reviewed my original trade ideas, and found a new undervalued power play that could help you reap a tidy reward.</li>
</ul>


AI’s evolving every second of every day, and so are the boom’s best investing plays. Early this year, I called out SoftBank Group as a prime AI opportunity.
A wide discount to NAV offered a cheap way to invest in Arm and tech, but that's narrowed after Softbank's 150% share price rally - and more limited NAV growth.
So I’ve taken a fresh look at SoftBank, reviewed my original trade ideas, and found a new undervalued power play that could help you reap a tidy reward.


SoftBank Soared. And This Hidden AI Power Play Could Be Next

J Capital Research

Independent Insight Provider

J Capital Research, a U.S. company, publishes highly diligenced research reports on publicly traded companies, relying on deep, on-the-ground primary research. J Capital has particular expertise in the Chinese market, but we look at over-valued companies throughout the world. As an activist short- and long-research shop, when we form a clear view, we publish free, public reports to inform the investing public and never disguise our identity. We believe the internet has afforded an opportunity to small, unaffiliated investors to leapfrog the big banks, with their conflicts of interest, and obtain unbiased information on traded companies. We pride ourselves on our independence and the quality of our work. We hope the work speaks for itself.

Bitmain Technologies Ltd / Equity Bottom-Up

<ul>
<li>Bitmain is taking control of listed proxy firms in the United States. That could mean that the mining results of some proxies are overstated, and investors should avoid those companies.</li>
<li>It would be easy for Bitmain, the Chinese chip designer with about 80% of the global market for Bitcoin mining gear and significant mining operations of its own,¹ to report the same mining results for more than one company.</li>
<li>Many of these proxies pay Bitmain to mine on their behalf. Since Bitmain remains private, it has no responsibility to report related-party transactions.</li>
</ul>


Bitmain is taking control of listed proxy firms in the United States. That could mean that the mining results of some proxies are overstated, and investors should avoid those companies.
It would be easy for Bitmain, the Chinese chip designer with about 80% of the global market for Bitcoin mining gear and significant mining operations of its own,¹ to report the same mining results for more than one company.
Many of these proxies pay Bitmain to mine on their behalf. Since Bitmain remains private, it has no responsibility to report related-party transactions.


The Equity Dispatch #47: Bitmain’s Quest for a Backdoor Listing: CANG and More

United States

Core Scientific, Inc. provides information technology services. The Company offers blockchain and artificial intelligence infrastructure, digital asset self-mining, managed hosting, and technology support services. Core Scientific serves customers in the United States.

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Core Scientific (CORZ US)

Core Scientific’s $3.7 Billion Puzzle: Why CoreWeave Might Be Ready to Buy a Loss-Making Giant

Core Scientific's first quarter fiscal year 2025 results highlight its strategic pivot towards high-density colocation infrastructure, driven...

Baptista Research

Crypto Datacenters NAV

There’s a gold rush in the world of AI for not just GPUs, but for datacenters and the power connections that supply them.

Fabricated Knowledge

The Shine’s Come Off The Neocloud Trade, But That Could Be An Opportunity

Neocloud companies and bitcoin miners pivoting to AI are struggling. Power’s still in short supply, so stocks should rebound when sentiment improves.

Finimize Research

SoftBank Soared. And This Hidden AI Power Play Could Be Next

In February, I called out SoftBank Group as a prime AI opportunity. So I've taken a fresh look, included OpenAI's potential contribution, and found...

Finimize Research

The Equity Dispatch #47: Bitmain’s Quest for a Backdoor Listing: CANG and More

Bitmain is taking control of listed proxy firms in the United States. That could mean that the mining results of some proxies are overstated, and...

J Capital Research

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