AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Intel likely beats its $0.20 EPS guide meaningfully (est. $0.38), driven by DCAI strength, cost cuts via headcount reductions, and one-off equity gains.</li>
<li>Foundry remains deeply unprofitable ($2.4B Q1 operating loss); Q2 gross margin guided down to 39% from 41% on 18A node-ramp dilution.</li>
<li>Alphabet's shock negative free cash flow and raised capex guidance has reset how markets price AI infra spend, setting up tougher RoI scrutiny for Intel's own 18A pitch tonight.</li>
</ul>


Intel likely beats its $0.20 EPS guide meaningfully (est. $0.38), driven by DCAI strength, cost cuts via headcount reductions, and one-off equity gains.
Foundry remains deeply unprofitable ($2.4B Q1 operating loss); Q2 gross margin guided down to 39% from 41% on 18A node-ramp dilution.
Alphabet's shock negative free cash flow and raised capex guidance has reset how markets price AI infra spend, setting up tougher RoI scrutiny for Intel's own 18A pitch tonight.


Intel’s EPS Smokescreen Meets the AI RoI Reality Check Tonight

Independent Fund Manager, Swaen Capital

Swaen Capital

Independent Fund Manager

Swaen Capital is a Singapore based licensed independent fund manager with an open architecture, a non bias financial platform creating access to the best custodians and investment managers. Our focus lies within the wealth management business, covering client relationships, financial planning, advisory, as well as discretionary portfolio management. We have developed strategic alliances with other leading independent firms to complement and extend our offerings to clients (global hedge fund research capability, alternative investment offerings, corporate finance, fund structuring & administration, etc). Our know-how, extensive global network and long standing presence in Asia allows us to provide a global footprint and at the same time enables us to capitalize on regional opportunities.

Thematic (Sector/Industry)

<ul>
<li>The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and signal-integrity penalties. The industry's answer is to move the optics off the faceplate and onto the chip package itself — Co Packaged Optics (CPO).</li>
<li>Adoption is switch-first. NVIDIA and Broadcom are shipping CPO switches in 2026 on external-laser designs; the XPU side and an in-package laser are deferred by packaging and reliability limits, not yet solved.</li>
<li>Money moves with the architecture. As the optical engine moves into the package, value migrates away from module assemblers toward the layers that fabricate the optical engine itself.</li>
</ul>


The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and signal-integrity penalties. The industry's answer is to move the optics off the faceplate and onto the chip package itself — Co Packaged Optics (CPO).
Adoption is switch-first. NVIDIA and Broadcom are shipping CPO switches in 2026 on external-laser designs; the XPU side and an in-package laser are deferred by packaging and reliability limits, not yet solved.
Money moves with the architecture. As the optical engine moves into the package, value migrates away from module assemblers toward the layers that fabricate the optical engine itself.


Co-Packaged Optics 101: The Future of High-Density AI Interconnects

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 Corporation has become the centerpiece of one of America’s most unusual corporate rescues.</li><li>After years of manufacturing delays, market-share losses and strategic missteps, the U.S. government converted approximately $9 billion of federal grants into a roughly 10% ownership stake, making Washington the chipmaker’s largest shareholder.</li><li>Government officials also reportedly encouraged companies including Apple, Nvidia and Elon Musk’s businesses to deepen their relationships with Intel.</li></ul>

Intel Corporation has become the centerpiece of one of America’s most unusual corporate rescues.After years of manufacturing delays, market-share losses and strategic missteps, the U.S. government converted approximately $9 billion of federal grants into a roughly 10% ownership stake, making Washington the chipmaker’s largest shareholder.Government officials also reportedly encouraged companies including Apple, Nvidia and Elon Musk’s businesses to deepen their relationships with Intel.

Intel Has Washington, Nvidia, And Google—Is That Enough?

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

<ul>
<li>August's WSTS semiconductor revenues registered a record high of more than $53 billion</li>
<li>Nobody seemed to notice, including the organization making the announcement</li>
<li>There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales</li>
</ul>


August's WSTS semiconductor revenues registered a record high of more than $53 billion
Nobody seemed to notice, including the organization making the announcement
There's valid concern that the market is on the verge of a collapse, and this may be overshadowing record sales


Semis Just Broke a Record.  Why Did Nobody Notice?

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>Hello! I went on a short hike this weekend, which always seems to cause something to change.</li><li>What changed was that we are seeing a very large leveraged unwind in the market, driven by the BOJ's hike in interest rates.</li><li>Let me write out the series of events. First and foremost, last week, we saw some of the first macro jitters. The CPI came to light, which was viewed as positive. But then NFP showed a bit of weakness.</li></ul>

Hello! I went on a short hike this weekend, which always seems to cause something to change.What changed was that we are seeing a very large leveraged unwind in the market, driven by the BOJ's hike in interest rates.Let me write out the series of events. First and foremost, last week, we saw some of the first macro jitters. The CPI came to light, which was viewed as positive. But then NFP showed a bit of weakness.

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)

Intel’s EPS Smokescreen Meets the AI RoI Reality Check Tonight

Intel beats EPS guide driven by DCAI strength but Alphabet's negative cash flow resets expectations for AI infra spend. Foundry remains...

Mint Finance

Co-Packaged Optics 101: The Future of High-Density AI Interconnects

The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and...

Swaen Capital

Intel Has Washington, Nvidia, And Google—Is That Enough?

Intel Corporation has become the centerpiece of one of America’s most unusual corporate rescues. After years of manufacturing delays, market-share...

Baptista Research

Semis Just Broke a Record. Why Did Nobody Notice?

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

MARKETS AND SEMICONDUCTORS

Hello! I went on a short hike this weekend, which always seems to cause something to change. What changed was that we are seeing a very large...

Fabricated Knowledge

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Intel’s EPS Smokescreen Meets the AI RoI Reality Check Tonight

​Intel beats EPS guide driven by DCAI strength but Alphabet's negative cash flow resets expectations for AI infra spend. Foundry remains...

Mint Finance

Co-Packaged Optics 101: The Future of High-Density AI Interconnects

The copper wall is here. Above ~200Gbps per lane, copper can no longer carry signals more than a few metres without prohibitive power and...

Swaen Capital

Intel Has Washington, Nvidia, And Google—Is That Enough?

Intel Corporation has become the centerpiece of one of America’s most unusual corporate rescues. After years of manufacturing delays, market-share...

Baptista Research

Semis Just Broke a Record. Why Did Nobody Notice?

​August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...

Jim Handy

MARKETS AND SEMICONDUCTORS

Hello! I went on a short hike this weekend, which always seems to cause something to change. What changed was that we are seeing a very large...

Fabricated Knowledge

Intel beats EPS guide driven by DCAI strength but Alphabet's negative cash flow resets expectations for AI infra spend. Foundry remains...

August's semiconductor revenues hit a record high of over $53 billion, but concerns about a potential market collapse are overshadowing the...