Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

<ul>
<li>A major Intel balance sheet boost, backed by SoftBank, the U.S. government, and leading institutions, would enhance the company’s capacity to make bold bets on regaining global chip manufacturing leadership.</li>
<li>UMC's market valuation is less than the capex for just one advanced fab. Intel would likely make a gain on its investment since it would cause UMC shares to rally.</li>
<li>For less than the cost of a single advanced fab, a large company could acquire UMC and gain chipmaking expertise approaching TSMC’s level; boosting returns across an entire fab network.</li>
</ul>


A major Intel balance sheet boost, backed by SoftBank, the U.S. government, and leading institutions, would enhance the company’s capacity to make bold bets on regaining global chip manufacturing leadership.
UMC's market valuation is less than the capex for just one advanced fab. Intel would likely make a gain on its investment since it would cause UMC shares to rally.
For less than the cost of a single advanced fab, a large company could acquire UMC and gain chipmaking expertise approaching TSMC’s level; boosting returns across an entire fab network.


A Defining Bet: Intel’s New Capital and the Case for Buying a Stake in Taiwan's UMC

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>Intel is navigating a critical turnaround under its IDM 2.0 strategy, aiming to regain manufacturing leadership by 2025 and build a significant foundry business. This ambitious plan involves massive capital expenditure and significant execution risk.</li>
 <li>Financial performance has been weak, characterized by declining revenues, negative net income in recent periods, and a significant dividend cut. The company's recovery is contingent on successfully executing its technology roadmap and capturing growth in AI and data center markets.</li>
 <li>The competitive landscape is intensely challenging, with Intel facing strong rivals in every key segment: AMD in CPUs, Nvidia in AI accelerators, and TSMC in the foundry market. Political and leadership challenges add another layer of uncertainty to the company's outlook.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Intel is navigating a critical turnaround under its IDM 2.0 strategy, aiming to regain manufacturing leadership by 2025 and build a significant foundry business. This ambitious plan involves massive capital expenditure and significant execution risk.
  Financial performance has been weak, characterized by declining revenues, negative net income in recent periods, and a significant dividend cut. The company's recovery is contingent on successfully executing its technology roadmap and capturing growth in AI and data center markets.
  The competitive landscape is intensely challenging, with Intel facing strong rivals in every key segment: AMD in CPUs, Nvidia in AI accelerators, and TSMC in the foundry market. Political and leadership challenges add another layer of uncertainty to the company's outlook.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

<ul><li>Nvidia and Intel have announced a $5 billion deal to collaborate on designing CPU GPU systems for data centers and chiplets for PCs.</li><li>Jensen Huang surprisingly praised Intel during a press conference, marking a significant shift in Nvidia's history of enmity towards Intel.</li><li>The collaboration aims to address the scalability limitations of current systems by offering x86 head nodes with NVLink for data centers, filling a market gap for both companies.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Nvidia and Intel have announced a $5 billion deal to collaborate on designing CPU GPU systems for data centers and chiplets for PCs.Jensen Huang surprisingly praised Intel during a press conference, marking a significant shift in Nvidia's history of enmity towards Intel.The collaboration aims to address the scalability limitations of current systems by offering x86 head nodes with NVLink for data centers, filling a market gap for both companies.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EP 135: INTEL AND NVIDIA!! Meta Connect and Ray Ban Display, Watch Huawei/China

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>Intel is suddenly at the center of a high-stakes drama.</li><li>Just this month, the Trump administration reversed its public criticism of CEO Lip Bu Tan—who had been accused of being "conflicted" due to his past China ties—and moved into “constructive discussions” about a possible government equity stake in the company .</li><li>That shift followed a White House meeting that apparently reset the tone, with Trump calling Tan’s journey "amazing" after once demanding his resignation .</li></ul>

Intel is suddenly at the center of a high-stakes drama.Just this month, the Trump administration reversed its public criticism of CEO Lip Bu Tan—who had been accused of being "conflicted" due to his past China ties—and moved into “constructive discussions” about a possible government equity stake in the company .That shift followed a White House meeting that apparently reset the tone, with Trump calling Tan’s journey "amazing" after once demanding his resignation .

Intel Lands $5 Billion Boost From NVIDIA: The AI Deal Shaking Wall Street!

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>
<a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> surprised the market with its announcement of a $5 billion investment in <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a>.</li>
<li>The market seems to read this as the beginning of a deeper Intel–NVIDIA partnership in AI chips.</li>
<li>We also note that Japan’s push to establish its own foundry industry through Rapidus deserves continued attention, as it could reshape the competitive map in the years ahead.</li>
</ul>



NVIDIA Corp (NVDA US) surprised the market with its announcement of a $5 billion investment in Intel Corp (INTC US).
The market seems to read this as the beginning of a deeper Intel–NVIDIA partnership in AI chips.
We also note that Japan’s push to establish its own foundry industry through Rapidus deserves continued attention, as it could reshape the competitive map in the years ahead.


Intel (INTC.US): NVIDIA’s $5B Intel Stake — A Shift in Tech’s Competitive Landscape?

United States

Intel Corporation designs, manufactures, and sells computer components and related products.  The Company's major products include microprocessors, chipsets, embedded processors and microcontrollers, flash memory products, graphics products, network and communications products, systems management software, conferencing products, and digital imaging products.

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Intel Corp (INTC US)

A Defining Bet: Intel’s New Capital and the Case for Buying a Stake in Taiwan's UMC

Intel's balance sheet improvement is a major opportunity -- Intel should invest in UMC to create a win-win combination that can rival TSMC...

Vincent Fernando, CFA

Primer: Intel Corp (INTC US) - Sep 2025

Intel is navigating a critical turnaround under its IDM 2.0 strategy, aiming to regain manufacturing leadership by 2025 and build a significant...

αSK

EP 135: INTEL AND NVIDIA!! Meta Connect and Ray Ban Display, Watch Huawei/China

Nvidia and Intel announced a $5 billion stock investment and collaboration to jointly design CPU GPU systems for data centers and AI networking,...

The Circuit

Intel Lands $5 Billion Boost From NVIDIA: The AI Deal Shaking Wall Street!

Intel is suddenly at the center of a high-stakes drama. Just this month, the Trump administration reversed its public criticism of CEO Lip Bu...

Baptista Research

Intel (INTC.US): NVIDIA’s $5B Intel Stake — A Shift in Tech’s Competitive Landscape?

NVIDIA surprises market with $5 billion investment in Intel, sparking speculation of deeper partnership in AI chips. Japan's Rapidus initiative...

Patrick Liao

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A Defining Bet: Intel’s New Capital and the Case for Buying a Stake in Taiwan's UMC

​Intel's balance sheet improvement is a major opportunity -- Intel should invest in UMC to create a win-win combination that can rival TSMC...

Vincent Fernando, CFA

Primer: Intel Corp (INTC US) - Sep 2025

Intel is navigating a critical turnaround under its IDM 2.0 strategy, aiming to regain manufacturing leadership by 2025 and build a significant...

αSK

EP 135: INTEL AND NVIDIA!! Meta Connect and Ray Ban Display, Watch Huawei/China

Nvidia and Intel announced a $5 billion stock investment and collaboration to jointly design CPU GPU systems for data centers and AI networking,...

The Circuit

Intel Lands $5 Billion Boost From NVIDIA: The AI Deal Shaking Wall Street!

Intel is suddenly at the center of a high-stakes drama. Just this month, the Trump administration reversed its public criticism of CEO Lip Bu...

Baptista Research

Intel (INTC.US): NVIDIA’s $5B Intel Stake — A Shift in Tech’s Competitive Landscape?

​NVIDIA surprises market with $5 billion investment in Intel, sparking speculation of deeper partnership in AI chips. Japan's Rapidus initiative...

Patrick Liao

Intel's balance sheet improvement is a major opportunity -- Intel should invest in UMC to create a win-win combination that can rival TSMC...

NVIDIA surprises market with $5 billion investment in Intel, sparking speculation of deeper partnership in AI chips. Japan's Rapidus initiative...