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

Credo Technology Group Holding / Equity Bottom-Up

<ul><li>The latest move by Credo Technology Group to acquire DustPhotonics marks a significant strategic pivot as the company attempts to extend its dominance beyond copper-based connectivity into the optical domain.</li><li>The deal, structured as a $750 million cash payment along with equity consideration and potential earnouts, comes at a time when Credo is experiencing one of the fastest growth cycles in the semiconductor industry, having scaled revenue nearly sixfold over two years.</li><li>With AI infrastructure increasingly constrained by bandwidth, power efficiency, and reliability, optical interconnects are becoming critical.</li></ul>

The latest move by Credo Technology Group to acquire DustPhotonics marks a significant strategic pivot as the company attempts to extend its dominance beyond copper-based connectivity into the optical domain.The deal, structured as a $750 million cash payment along with equity consideration and potential earnouts, comes at a time when Credo is experiencing one of the fastest growth cycles in the semiconductor industry, having scaled revenue nearly sixfold over two years.With AI infrastructure increasingly constrained by bandwidth, power efficiency, and reliability, optical interconnects are becoming critical.

Credo Acquisition Of DustPhotonics Could Bridge The Biggest Gap In AI Connectivity!

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.

<ul><li>Google, Microsoft, and Facebook reported earnings.</li><li>Let’s discuss their capex plans and what that means for our new data center champion, Nvidia.</li><li>I think it’s pretty straightforward that Nvidia has revenue beats for the foreseeable future.</li></ul>

Google, Microsoft, and Facebook reported earnings.Let’s discuss their capex plans and what that means for our new data center champion, Nvidia.I think it’s pretty straightforward that Nvidia has revenue beats for the foreseeable future.

Google, Microsoft, Facebook and Nvidia: AI Spending Implications at the Hyperscalers

<ul><li>Credo Technology Group (CRDO) recently reported its financial results for the second quarter of fiscal 2026, achieving record revenue of $268 million, marking a 20% sequential increase and a remarkable 272% year-over-year growth.</li><li>The company's non-GAAP gross margin stood at 67.7%, while non-GAAP net income was approximately $128 million.</li><li>These figures highlight substantial expansion within the company, driven by the continued build-out of AI training and inference clusters.</li></ul>

Credo Technology Group (CRDO) recently reported its financial results for the second quarter of fiscal 2026, achieving record revenue of $268 million, marking a 20% sequential increase and a remarkable 272% year-over-year growth.The company's non-GAAP gross margin stood at 67.7%, while non-GAAP net income was approximately $128 million.These figures highlight substantial expansion within the company, driven by the continued build-out of AI training and inference clusters.

Credo Technology Group: What’s Next in 200G Interfaces—& How Credo Could Position for Gen 6/Gen 7 Upgrades!

<ul><li>Credo Technology Group is riding a wave of explosive growth, with its Q1 FY2026 results showing a 274% yearover-year revenue surge to $223 million and record non-GAAP net income of $98 million.</li><li>This growth reflects its leadership in Active Electrical Cables (AECs) and high-speed optical DSP solutions, which power the AI infrastructure of hyperscale data centers.</li><li>Against this backdrop, Credo has announced its plan to acquire Hyperlume, a privately held firm specializing in ultra-fast microLEDs and ultra-low power circuitry designed to address the bandwidth and energy bottlenecks of traditional interconnects.</li></ul>

Credo Technology Group is riding a wave of explosive growth, with its Q1 FY2026 results showing a 274% yearover-year revenue surge to $223 million and record non-GAAP net income of $98 million.This growth reflects its leadership in Active Electrical Cables (AECs) and high-speed optical DSP solutions, which power the AI infrastructure of hyperscale data centers.Against this backdrop, Credo has announced its plan to acquire Hyperlume, a privately held firm specializing in ultra-fast microLEDs and ultra-low power circuitry designed to address the bandwidth and energy bottlenecks of traditional interconnects.

Credo Technology’s Hyperlume Deal: A Game-Changer For AI Connectivity Or A Risky Bet!

<ul><li>Credo Technology Group reported strong financial performance in the first quarter of fiscal 2026, with revenue reaching $223 million, marking a 31% sequential increase and a substantial 274% rise year-over-year.</li><li>The company achieved a non-GAAP gross margin of 67.6% and nearly $100 million in non-GAAP net income.</li><li>This growth is primarily driven by increased demand from hyperscalers and data center operators investing in AI infrastructure, necessitating high-speed connectivity solutions.</li></ul>

Credo Technology Group reported strong financial performance in the first quarter of fiscal 2026, with revenue reaching $223 million, marking a 31% sequential increase and a substantial 274% rise year-over-year.The company achieved a non-GAAP gross margin of 67.6% and nearly $100 million in non-GAAP net income.This growth is primarily driven by increased demand from hyperscalers and data center operators investing in AI infrastructure, necessitating high-speed connectivity solutions.

Credo Technology Group’s Market Expansion: Will Diversification Beyond AECs Future-Proof the Business?

United States

Credo Technology Group Holding Ltd operates as a holding company. The Company, through its subsidiaries, provides connectivity solutions such as IP and chiplets, line cards, optical DSPs, and active electrical cables. Credo Technology Group Holding serves customers worldwide.

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Credo Technology Group Holding (CRDO US)

Credo Acquisition Of DustPhotonics Could Bridge The Biggest Gap In AI Connectivity!

The latest move by Credo Technology Group to acquire DustPhotonics marks a significant strategic pivot as the company attempts to extend its...

Baptista Research

Google, Microsoft, Facebook and Nvidia: AI Spending Implications at the Hyperscalers

Google, Microsoft, and Facebook reported earnings. Let’s discuss their capex plans and what that means for our new data center champion, Nvidia. I...

Fabricated Knowledge

Credo Technology Group: What’s Next in 200G Interfaces—& How Credo Could Position for Gen 6/Gen 7 Upgrades!

Credo Technology Group (CRDO) recently reported its financial results for the second quarter of fiscal 2026, achieving record revenue of $268...

Baptista Research

Credo Technology’s Hyperlume Deal: A Game-Changer For AI Connectivity Or A Risky Bet!

Credo Technology Group is riding a wave of explosive growth, with its Q1 FY2026 results showing a 274% yearover-year revenue surge to $223 million...

Baptista Research

Credo Technology Group’s Market Expansion: Will Diversification Beyond AECs Future-Proof the Business?

Credo Technology Group reported strong financial performance in the first quarter of fiscal 2026, with revenue reaching $223 million, marking a...

Baptista Research

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