AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Q3 revenue is expected to reach $22.4-23.2 billion, reflecting strong demand for TSMC's 3nm and AI-driven technologies. This marks a significant 14.4% increase from Q2's $20.82 billion, despite global headwinds.</li>
<li>Operating profit margins are forecasted to be between 42.5% and 44.5%, highlighting TSMC’s efforts to maintain profitability. However, pressures from rising operational costs and competitive advancements remain a challenge.</li>
<li>EPS is projected at $1.76, up 40% YoY, driven by robust AI chip demand. Despite this, TSMC faces slowing consumer electronics demand, particularly in smartphones, which could affect future growth.</li>
</ul>


Q3 revenue is expected to reach $22.4-23.2 billion, reflecting strong demand for TSMC's 3nm and AI-driven technologies. This marks a significant 14.4% increase from Q2's $20.82 billion, despite global headwinds.
Operating profit margins are forecasted to be between 42.5% and 44.5%, highlighting TSMC’s efforts to maintain profitability. However, pressures from rising operational costs and competitive advancements remain a challenge.
EPS is projected at $1.76, up 40% YoY, driven by robust AI chip demand. Despite this, TSMC faces slowing consumer electronics demand, particularly in smartphones, which could affect future growth.


TSMC's Q3 Earnings Preview: Investors to Eye AI Demand Boost, Margins in Focus

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

Cerebras Systems  / Equity Capital Markets

<ul>
<li>Cerebras Systems, a fast-growing maker of wafer-scale AI chips, which power the world’s largest supercomputers, will reveal IPO terms soon.</li>
<li>Given the company’s hyper-growth trajectory, $1B+ deal with UAE’s G42 and unique architecture, I expect Cerebras Systems is likely to get a premium valuation.  </li>
<li>The AI company plans to raise up to $1B while selling stockholders will offer additional Class A shares in this IPO.</li>
</ul>


Cerebras Systems, a fast-growing maker of wafer-scale AI chips, which power the world’s largest supercomputers, will reveal IPO terms soon.
Given the company’s hyper-growth trajectory, $1B+ deal with UAE’s G42 and unique architecture, I expect Cerebras Systems is likely to get a premium valuation.  
The AI company plans to raise up to $1B while selling stockholders will offer additional Class A shares in this IPO.


Cerebras IPO Valuation Analysis: A Sky-High Valuation Will Not Last For Long

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

<ul><li>Intel is struggling, with a dismal stock performance and job cuts</li><li>The company's risky and capital-intensive strategy may not be sustainable</li><li>The core business is no longer sufficient to support their strategic goals, leading to financial challenges and market share loss.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Intel is struggling, with a dismal stock performance and job cutsThe company's risky and capital-intensive strategy may not be sustainableThe core business is no longer sufficient to support their strategic goals, leading to financial challenges and market share loss.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Lots More on the Ongoing Mess That Is Intel

<ul>
<li>Cerebras Systems, a high-growth Ai chip maker and hardware company that builds AI supercomputers with scalable architecture, has filed for an IPO on the Nasdaq.</li>
<li>The AI company plans to raise up to $1B in upcoming IPO. Citigroup and Barclays are the lead bankers on the offering. </li>
<li>Cerebras Systems may become the biggest disruptor since NVIDIA. The company’s growth is exceptionally high for any AI chip maker.</li>
</ul>


Cerebras Systems, a high-growth Ai chip maker and hardware company that builds AI supercomputers with scalable architecture, has filed for an IPO on the Nasdaq.
The AI company plans to raise up to $1B in upcoming IPO. Citigroup and Barclays are the lead bankers on the offering. 
Cerebras Systems may become the biggest disruptor since NVIDIA. The company’s growth is exceptionally high for any AI chip maker.


Cerebras IPO Preview: Does The Size Matter? Top-Tier VC Investors and $1B+ Deal With UAE’s G42

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

<ul>
<li>Apple Set to Launch iPhone SE 4 and Updated iPad Air in Early 2025: Key Developments to Watch</li>
<li>META's Orion AR Glasses: Next Major Computing Platform After the Smartphone?</li>
<li>Apple Supply Chain Monitor: Key IPhone Suppliers Didn't Rally With Apple; Opportunity for Rebound?</li>
</ul>


Apple Set to Launch iPhone SE 4 and Updated iPad Air in Early 2025: Key Developments to Watch
META's Orion AR Glasses: Next Major Computing Platform After the Smartphone?
Apple Supply Chain Monitor: Key IPhone Suppliers Didn't Rally With Apple; Opportunity for Rebound?


Taiwan Tech Weekly: Apple Shifting AR Strategy After Meta Orion Showcase; Apple Supply Chain Monitor

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)

TSMC's Q3 Earnings Preview: Investors to Eye AI Demand Boost, Margins in Focus

TSMC is expected to report strong Q3 revenue growth driven by AI and advanced nodes, while facing pressure from weakening margins and slowing...

Mint Finance

Cerebras IPO Valuation Analysis: A Sky-High Valuation Will Not Last For Long

In my follow-up piece, I discuss Cerebras Systems valuation analysis, including peers, multiples and the company’s revenues forecast for 2024 and...

Andrei Zakharov

Lots More on the Ongoing Mess That Is Intel

Intel is facing challenges with their performance and stock price due to their risky strategy, but they are doubling down on manufacturing and...

Odd Lots

Cerebras IPO Preview: Does The Size Matter? Top-Tier VC Investors and $1B+ Deal With UAE’s G42

Cerebras Systems, a manufacturer of the largest AI chip ever built and hardware company that launched supercomputers in the United States, filed...

Andrei Zakharov

Taiwan Tech Weekly: Apple Shifting AR Strategy After Meta Orion Showcase; Apple Supply Chain Monitor

Apple is set to launch new iPhone SE 4 and iPad Air in 2025, Meta's Orion AR Glasses could be the next big thing, and Apple is being forced to react.

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TSMC's Q3 Earnings Preview: Investors to Eye AI Demand Boost, Margins in Focus

TSMC is expected to report strong Q3 revenue growth driven by AI and advanced nodes, while facing pressure from weakening margins and slowing...

Mint Finance

Cerebras IPO Valuation Analysis: A Sky-High Valuation Will Not Last For Long

In my follow-up piece, I discuss Cerebras Systems valuation analysis, including peers, multiples and the company’s revenues forecast for 2024 and...

Andrei Zakharov

Lots More on the Ongoing Mess That Is Intel

Intel is facing challenges with their performance and stock price due to their risky strategy, but they are doubling down on manufacturing and...

Odd Lots

Cerebras IPO Preview: Does The Size Matter? Top-Tier VC Investors and $1B+ Deal With UAE’s G42

Cerebras Systems, a manufacturer of the largest AI chip ever built and hardware company that launched supercomputers in the United States, filed...

Andrei Zakharov

Taiwan Tech Weekly: Apple Shifting AR Strategy After Meta Orion Showcase; Apple Supply Chain Monitor

​Apple is set to launch new iPhone SE 4 and iPad Air in 2025, Meta's Orion AR Glasses could be the next big thing, and Apple is being forced to react.

Vincent Fernando, CFA

Apple is set to launch new iPhone SE 4 and iPad Air in 2025, Meta's Orion AR Glasses could be the next big thing, and Apple is being forced to react.