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

Equity Bottom-Up

<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 ?

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>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!

<ul><li>Meta Platforms has returned to the AI conversation with Muse Spark, its first major new model in more than a year, but the real significance of the launch sits well beyond benchmark tables and product headlines.</li><li>The company is emerging from a period marked by delayed releases, an abandoned large-model effort, benchmark credibility issues, and a costly internal reset of its AI organization.</li><li>That makes this moment less about proving technical supremacy and more about showing that the company’s AI strategy has become operational, commercial, and increasingly tied to the core economics of its business.</li></ul>

Meta Platforms has returned to the AI conversation with Muse Spark, its first major new model in more than a year, but the real significance of the launch sits well beyond benchmark tables and product headlines.The company is emerging from a period marked by delayed releases, an abandoned large-model effort, benchmark credibility issues, and a costly internal reset of its AI organization.That makes this moment less about proving technical supremacy and more about showing that the company’s AI strategy has become operational, commercial, and increasingly tied to the core economics of its business.

Meta’s AI Strategy Just Changed—& Investors Are Missing It!

<ul>
<li>We tracked AI models, infrastructure, and M&amp;A this week: OpenAI and Anthropic refreshed frontier models while Moonshot started its Hong Kong IPO process.</li>
<li>MiniMax powered HUMAIN's Arabic sovereign model, Alibaba refreshed Qwen, and Artificial Analysis kept new US frontier releases at the top of the ranking.</li>
<li>Nvidia agreed to buy Hugging Face, Anthropic expanded compute financing, and AI infrastructure demand flowed through hyperscalers, hardware vendors, chips and memory.</li>
</ul>


We tracked AI models, infrastructure, and M&amp;A this week: OpenAI and Anthropic refreshed frontier models while Moonshot started its Hong Kong IPO process.
MiniMax powered HUMAIN's Arabic sovereign model, Alibaba refreshed Qwen, and Artificial Analysis kept new US frontier releases at the top of the ranking.
Nvidia agreed to buy Hugging Face, Anthropic expanded compute financing, and AI infrastructure demand flowed through hyperscalers, hardware vendors, chips and memory.


This Week in AI (Aug 30-Sep 5): GPT-6 Astra and Fable 5.1 in Same Week; Moonshot Files IPO

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)

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

Meta’s AI Strategy Just Changed—& Investors Are Missing It!

Meta Platforms has returned to the AI conversation with Muse Spark, its first major new model in more than a year, but the real significance of...

Baptista Research

This Week in AI (Aug 30-Sep 5): GPT-6 Astra and Fable 5.1 in Same Week; Moonshot Files IPO

This week in AI: GPT-6 Astra and Claude Fable 5.1 arrive together; Nvidia buys Hugging Face for USD 12.93bn; Moonshot files for a Hong Kong IPO.

Ke Yan, CFA, FRM

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