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>Meta Platforms is no longer talking about artificial intelligence as a side feature inside Facebook, Instagram, Messenger, and WhatsApp.</li><li>It is now describing AI agents as a future operating layer for both people and businesses.</li><li>The company’s newest business AI push is designed to answer customer questions, support advertisers, resolve account issues, create ad content, facilitate customer conversations, and eventually help entrepreneurs run more of their daily operations through Meta’s apps.</li></ul>

Meta Platforms is no longer talking about artificial intelligence as a side feature inside Facebook, Instagram, Messenger, and WhatsApp.It is now describing AI agents as a future operating layer for both people and businesses.The company’s newest business AI push is designed to answer customer questions, support advertisers, resolve account issues, create ad content, facilitate customer conversations, and eventually help entrepreneurs run more of their daily operations through Meta’s apps.

Meta’s $145 Billion AI Gamble Is Coming For Workflows!

<ul><li>Meta Platforms reported a solid first quarter in 2026 driven by sustained user engagement and significant advancements in artificial intelligence (AI) technologies.</li><li>The company noted a slight decline in total daily active users primarily due to external factors such as Internet outages in Iran and restrictions in Russia; however, usage trends for core apps like Instagram and Facebook continued to grow, with video formats reaching record engagement levels.</li><li>WhatsApp maintained strong momentum in the U.S., and the newly launched Threads app is progressing toward category leadership.</li></ul>

Meta Platforms reported a solid first quarter in 2026 driven by sustained user engagement and significant advancements in artificial intelligence (AI) technologies.The company noted a slight decline in total daily active users primarily due to external factors such as Internet outages in Iran and restrictions in Russia; however, usage trends for core apps like Instagram and Facebook continued to grow, with video formats reaching record engagement levels.WhatsApp maintained strong momentum in the U.S., and the newly launched Threads app is progressing toward category leadership.

Meta Platforms' Expense Growth Of 35% Is Now Outpacing Its 33% Revenue Expansion

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Thematic (Sector/Industry)

<ul>
<li>DeepSeek released V4.1-Flash and hired underwriters for a Shanghai IPO. US agencies and Anthropic separately accused Chinese labs of extracting US model outputs.</li>
<li>OpenAI published a proposed Navier-Stokes proof and opened its Agents API beta. Xiaomi introduced MiMo Desktop for invited users.</li>
<li>Zhipu proposed USD 5bn of financing. Cognition announced a larger USD 2bn round, while Nvidia discussed an Anthropic IPO anchor investment.</li>
</ul>


DeepSeek released V4.1-Flash and hired underwriters for a Shanghai IPO. US agencies and Anthropic separately accused Chinese labs of extracting US model outputs.
OpenAI published a proposed Navier-Stokes proof and opened its Agents API beta. Xiaomi introduced MiMo Desktop for invited users.
Zhipu proposed USD 5bn of financing. Cognition announced a larger USD 2bn round, while Nvidia discussed an Anthropic IPO anchor investment.


This Week in AI (Sep 6-12): DeepSeek V4.1-Flash and IPO; OpenAI's Astra Solves NS Equation

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

<ul>
<li>Meta reported Q1 2026 revenues of $56.3 billion, +33% year-over-year (29% constant currency), comfortably above the $55.5-$55.6 billion FactSet/Bloomberg consensus. Non-GAAP EPS was $7.31, adjusted for a one-time tax benefit</li>
<li>Meta guided current quarter revenues at $59.5 billion, up 5.6% QoQ and up 24% YoY. Oh and they also guided FY2026 capex at $125-$145 billion, up from $115-$135 billion previously</li>
<li>Meta's add business is doing just great but when it comes to their AI plans, the narrative around how their CapEx translates into meaningful ROIC is as clear as mud.</li>
</ul>


Meta reported Q1 2026 revenues of $56.3 billion, +33% year-over-year (29% constant currency), comfortably above the $55.5-$55.6 billion FactSet/Bloomberg consensus. Non-GAAP EPS was $7.31, adjusted for a one-time tax benefit
Meta guided current quarter revenues at $59.5 billion, up 5.6% QoQ and up 24% YoY. Oh and they also guided FY2026 capex at $125-$145 billion, up from $115-$135 billion previously
Meta's add business is doing just great but when it comes to their AI plans, the narrative around how their CapEx translates into meaningful ROIC is as clear as mud.


Meta Q1 2026. The AI Plan Is On Track But What Exactly Is It ?

<ul><li>Meta Platforms appears to have suffered a clean geopolitical setback.</li><li>China blocked its $2.5 billion acquisition of AI startup Manus and ordered the deal to be unwound.</li><li>On the surface, that sounds like bad news.</li></ul>

Meta Platforms appears to have suffered a clean geopolitical setback.China blocked its $2.5 billion acquisition of AI startup Manus and ordered the deal to be unwound.On the surface, that sounds like bad news.

Meta Just Got Blocked In China—Here’s Why That Might Not Be Such A Bad News!

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.

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Meta (META US)

Meta’s $145 Billion AI Gamble Is Coming For Workflows!

Meta Platforms is no longer talking about artificial intelligence as a side feature inside Facebook, Instagram, Messenger, and WhatsApp. It is now...

Baptista Research

Meta Platforms' Expense Growth Of 35% Is Now Outpacing Its 33% Revenue Expansion

Meta Platforms reported a solid first quarter in 2026 driven by sustained user engagement and significant advancements in artificial intelligence...

Baptista Research

This Week in AI (Sep 6-12): DeepSeek V4.1-Flash and IPO; OpenAI's Astra Solves NS Equation

This week in AI: DeepSeek releases V4.1-Flash and hires Shanghai IPO underwriters. US agencies and Anthropic accuse Chinese labs of model...

Ke Yan, CFA, FRM

Meta Q1 2026. The AI Plan Is On Track But What Exactly Is It ?

Meta's add business is doing just great but when it comes to their AI plans, the narrative around how their CapEx translates into meaningful ROIC...

William Keating

Meta Just Got Blocked In China—Here’s Why That Might Not Be Such A Bad News!

Meta Platforms appears to have suffered a clean geopolitical setback. China blocked its $2.5 billion acquisition of AI startup Manus and ordered...

Baptista Research

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