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>Tesla &amp; Samsung just inked an eight year, $16.5 billion foundry deal set to run from July 24, 2025 through December 31, 2033.</li>
<li>Had Intel snagged this deal, it would have been a lifesaver for the company. Not getting it likely triggered the updated "Risk Factors" section in their latest 10K.</li>
<li>This isn't Intel playing politics, there's no point. It's LBT laying it on the line for investors. Continued investment in 14A is no longer a given. It's that simple...</li>
</ul>


Tesla &amp; Samsung just inked an eight year, $16.5 billion foundry deal set to run from July 24, 2025 through December 31, 2033.
Had Intel snagged this deal, it would have been a lifesaver for the company. Not getting it likely triggered the updated "Risk Factors" section in their latest 10K.
This isn't Intel playing politics, there's no point. It's LBT laying it on the line for investors. Continued investment in 14A is no longer a given. It's that simple...


Intel. Was Tesla's Deal With Samsung The Death Knell For IFS?

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’s freshly minted networking and edge infrastructure arm, NEX, is drawing significant attention after reports emerged that Ericsson is in private talks to invest hundreds of millions of dollars for a minority stake.</li><li>The move, if consummated, would represent one of the first strategic external investments into the standalone entity since Intel announced its spin-off only days ago.</li><li>NEX, long a supplier of critical network-processing chips to Ericsson’s radio access hardware, now stands at the crossroads of reshaped industry partnerships, capital discipline, and growth in 5G and edge computing.</li></ul>

Intel’s freshly minted networking and edge infrastructure arm, NEX, is drawing significant attention after reports emerged that Ericsson is in private talks to invest hundreds of millions of dollars for a minority stake.The move, if consummated, would represent one of the first strategic external investments into the standalone entity since Intel announced its spin-off only days ago.NEX, long a supplier of critical network-processing chips to Ericsson’s radio access hardware, now stands at the crossroads of reshaped industry partnerships, capital discipline, and growth in 5G and edge computing.

Intel’s Next Big Winner? How Ericsson’s Bet Could Spark An Industry Shake-Up

<ul><li>Intel’s latest earnings report paints a stark picture of a company at a strategic crossroads, grappling with ongoing losses and intensifying pressure to prove its relevance in the evolving semiconductor landscape.</li><li>The chipmaker posted revenue of $12.9 billion for the June quarter, beating Wall Street expectations, partly due to customers front-loading purchases ahead of impending tariffs.</li><li>However, Intel also reported a steep $2.9 billion loss—its sixth consecutive quarterly loss and the longest such streak in 35 years.</li></ul>

Intel’s latest earnings report paints a stark picture of a company at a strategic crossroads, grappling with ongoing losses and intensifying pressure to prove its relevance in the evolving semiconductor landscape.The chipmaker posted revenue of $12.9 billion for the June quarter, beating Wall Street expectations, partly due to customers front-loading purchases ahead of impending tariffs.However, Intel also reported a steep $2.9 billion loss—its sixth consecutive quarterly loss and the longest such streak in 35 years.

Intel’s Massive Layoffs & Delayed Factories Signal A BRUTAL Reality Check: Can A Turnaround Happen?

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>TSMC has been operating as a monopoly, raising prices without consequence and controlling pricing in the industry.</li><li>Intel's CEO's recent comments about not investing in the next process without an external customer have raised concerns about the future of Intel's Foundry business.</li><li>The lack of commitment to future processes has led to suggestions that Intel should shut down fabs and secure capacity at TSMC, potentially impacting CPU competitiveness.</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>

TSMC has been operating as a monopoly, raising prices without consequence and controlling pricing in the industry.Intel's CEO's recent comments about not investing in the next process without an external customer have raised concerns about the future of Intel's Foundry business.The lack of commitment to future processes has led to suggestions that Intel should shut down fabs and secure capacity at TSMC, potentially impacting CPU competitiveness.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

EP:127 Intel Earnings, Exploring the Possible Scenario of a TSMC Monopoly

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>Steady loss of market share to AMD in x86 PC and Server. Single design win for the GPU Max, overall no AI or Accelerator roadmap.  </li>
<li>Steady deterioration of the financials. Collapse in NON-GAAP Operating Profits, leading to negative Free Cash Flow, leading to increasing Net Debt. </li>
<li>Most damaging, IMO was during 3Q24 conference call (1st Nov 2024) when the CFO David Zinsner said: don’t expect a recovery before 2026. CEO Gelsinger was gone 1 month later. </li>
</ul>


Steady loss of market share to AMD in x86 PC and Server. Single design win for the GPU Max, overall no AI or Accelerator roadmap.  
Steady deterioration of the financials. Collapse in NON-GAAP Operating Profits, leading to negative Free Cash Flow, leading to increasing Net Debt. 
Most damaging, IMO was during 3Q24 conference call (1st Nov 2024) when the CFO David Zinsner said: don’t expect a recovery before 2026. CEO Gelsinger was gone 1 month later. 


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. Was Tesla's Deal With Samsung The Death Knell For IFS?

This isn't Intel playing politics, there's no point. It's LBT laying it on the line for investors. Continued investment in 14A is no longer a...

William Keating

Intel’s Next Big Winner? How Ericsson’s Bet Could Spark An Industry Shake-Up

Intel’s freshly minted networking and edge infrastructure arm, NEX, is drawing significant attention after reports emerged that Ericsson is in...

Baptista Research

Intel’s Massive Layoffs & Delayed Factories Signal A BRUTAL Reality Check: Can A Turnaround Happen?

Intel’s latest earnings report paints a stark picture of a company at a strategic crossroads, grappling with ongoing losses and intensifying...

Baptista Research

EP:127 Intel Earnings, Exploring the Possible Scenario of a TSMC Monopoly

Overall, TSMC's dominance in the industry and Intel's hesitancy towards investing in new processes have raised concerns about a potential monopoly...

The Circuit

Intel: A Graphic Novel Of A Train Wreck

Everything that could go wrong did go wrong: losing market share to AMD, no success for GPU or Gaudi, financial deterioration, and finally CFO...

Nicolas Baratte

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