Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Thematic (Sector/Industry)

<ul>
<li>So if you’re not actually able to draw a direct line to how much useful features and functionality you’re shipping to your users, that trade becomes harder to justify.</li>
<li>It’s actually not our engineers that are driving the token consumption. It’s a lot of the non-engineers that are doing some of those behaviors like converting PDFs into PowerPoint slides</li>
<li>Microsoft Has reportedly begun canceling most of its direct Claude Code licenses, according to The Verge, instead moving engineers toward using GitHub Copilot CLI.</li>
</ul>


So if you’re not actually able to draw a direct line to how much useful features and functionality you’re shipping to your users, that trade becomes harder to justify.
It’s actually not our engineers that are driving the token consumption. It’s a lot of the non-engineers that are doing some of those behaviors like converting PDFs into PowerPoint slides
Microsoft Has reportedly begun canceling most of its direct Claude Code licenses, according to The Verge, instead moving engineers toward using GitHub Copilot CLI.


From Token Maxxing To Token Rationing In Just Three Months. What's Going On?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>India’s data centre theme has entered a new phase, with Reliance-Meta’s 168 MW Jamnagar deal, Adani’s 5 GW ambition, and Airtel Nxtra’s USD 1 billion fundraise.</li>
<li>India’s operational data centre capacity is now estimated around 1.5-1.7 GW, with AI, cloud, data localisation and hyperscaler demand driving large investment commitments.</li>
<li>A complete value-chain view covering land, power, cooling, backup systems, fibre, AI compute, EPC and colocation- and where listed Indian companies fit.</li>
</ul>


India’s data centre theme has entered a new phase, with Reliance-Meta’s 168 MW Jamnagar deal, Adani’s 5 GW ambition, and Airtel Nxtra’s USD 1 billion fundraise.
India’s operational data centre capacity is now estimated around 1.5-1.7 GW, with AI, cloud, data localisation and hyperscaler demand driving large investment commitments.
A complete value-chain view covering land, power, cooling, backup systems, fibre, AI compute, EPC and colocation- and where listed Indian companies fit.


India’s Data Center Build-Out: AI, Power and the Road from 350 MW to 7 GW

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>The US market is undergoing a rapid and significant shift from "de-equitization" to "re-equitization".   Firms are quickly foregoing buybacks and instead increasing debt issuance, convertible issuance, and secondary equity offerings.</li>
<li>AI capex is driving the change and potentially crowding out capital with technology sector mega-IPOs and secondary offerings projected to offload trillions of dollars of equity in the coming years.</li>
<li>The rush to issue equity comes at a time when retail investor buying has resurfaced as a significant source of market support, accounting for 20% of overall volume.</li>
</ul>


The US market is undergoing a rapid and significant shift from "de-equitization" to "re-equitization".   Firms are quickly foregoing buybacks and instead increasing debt issuance, convertible issuance, and secondary equity offerings.
AI capex is driving the change and potentially crowding out capital with technology sector mega-IPOs and secondary offerings projected to offload trillions of dollars of equity in the coming years.
The rush to issue equity comes at a time when retail investor buying has resurfaced as a significant source of market support, accounting for 20% of overall volume.


US EQUITY OVERSUPPLY: When the Public Buyers Become the Greater Fools

<ul>
<li>OpenAI revealed that it failed to meet its own goals for user acquisition and sales, fueling concerns that the company may struggle to support its astronomical spending on AI infrastructure.</li>
<li>Token prices have dropped by over 90% in the last year, which threatens to more than offset the increase in daily AI queries and weekly active users.</li>
<li>China's AI models continue to take market share from US counterparts. Chinese developers' open models now account for about 17% of global downloads, surpassing US developers for the first time.</li>
</ul>


OpenAI revealed that it failed to meet its own goals for user acquisition and sales, fueling concerns that the company may struggle to support its astronomical spending on AI infrastructure.
Token prices have dropped by over 90% in the last year, which threatens to more than offset the increase in daily AI queries and weekly active users.
China's AI models continue to take market share from US counterparts. Chinese developers' open models now account for about 17% of global downloads, surpassing US developers for the first time.


AI BUBBLE: Usage and Profitability and China's Challenge!!

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

<ul><li>Companies, especially hyperscalers, are expected to increase their CapEx spending by 60 to 70% this year, with estimated growth to reach 1.3 to 1.4 trillion in the next year.</li><li>Tech companies are significantly increasing R&amp;D and CapEx spending, with estimates suggesting they could reach spending levels comparable to global military spending in the next few years.</li><li>Tech companies are using operating cash flow and borrowing money to fund this growth, with a significant portion of investment grade issuance tied to AI and AI-related sectors.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Companies, especially hyperscalers, are expected to increase their CapEx spending by 60 to 70% this year, with estimated growth to reach 1.3 to 1.4 trillion in the next year.Tech companies are significantly increasing R&amp;D and CapEx spending, with estimates suggesting they could reach spending levels comparable to global military spending in the next few years.Tech companies are using operating cash flow and borrowing money to fund this growth, with a significant portion of investment grade issuance tied to AI and AI-related sectors.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

In Focus: Equity & Credit Update on AI CapEx

United States

Meta Platforms Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. meta Platform is also involved in advertisements, augmented and virtual reality.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Meta (META US)

From Token Maxxing To Token Rationing In Just Three Months. What's Going On?

It’s actually not our engineers that are driving the token consumption. It’s a lot of the non-engineers that are doing some of those behaviors like...

William Keating

India’s Data Center Build-Out: AI, Power and the Road from 350 MW to 7 GW

India's data centre industry is booming with major deals and investments, driven by demand for AI, cloud, data localisation, and hyperscalers.

Sudarshan Bhandari

US EQUITY OVERSUPPLY: When the Public Buyers Become the Greater Fools

The US market is undergoing a rapid and significant shift from "de-equitization" to "re-equitization". Firms are foregoing buybacks and instead...

David Mudd

AI BUBBLE: Usage and Profitability and China's Challenge!!

OpenAI CEO, Sam Altman has concluded that costs to his customers have become a huge issue, and he is considering "drastically" cutting prices. Just...

David Mudd

In Focus: Equity & Credit Update on AI CapEx

Companies, especially hyperscalers, are expected to increase their CapEx spending by 60 to 70% this year, with estimated growth to reach 1.3 to...

At Any Rate

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

From Token Maxxing To Token Rationing In Just Three Months. What's Going On?

It’s actually not our engineers that are driving the token consumption. It’s a lot of the non-engineers that are doing some of those behaviors like...

William Keating

India’s Data Center Build-Out: AI, Power and the Road from 350 MW to 7 GW

​India's data centre industry is booming with major deals and investments, driven by demand for AI, cloud, data localisation, and hyperscalers.

Sudarshan Bhandari

US EQUITY OVERSUPPLY: When the Public Buyers Become the Greater Fools

The US market is undergoing a rapid and significant shift from "de-equitization" to "re-equitization". Firms are foregoing buybacks and instead...

David Mudd

AI BUBBLE: Usage and Profitability and China's Challenge!!

OpenAI CEO, Sam Altman has concluded that costs to his customers have become a huge issue, and he is considering "drastically" cutting prices. Just...

David Mudd

In Focus: Equity & Credit Update on AI CapEx

Companies, especially hyperscalers, are expected to increase their CapEx spending by 60 to 70% this year, with estimated growth to reach 1.3 to...

At Any Rate

India's data centre industry is booming with major deals and investments, driven by demand for AI, cloud, data localisation, and hyperscalers.