Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank</a> raised around US$4.9bn via selling some of its stake in <a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a>’ US IPO. Its remaining 90% stake will be released from its IPO linked lockup soon.</li>
<li>ARM develops and licenses high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>



Softbank raised around US$4.9bn via selling some of its stake in ARM Holdings (ARM US)’ US IPO. Its remaining 90% stake will be released from its IPO linked lockup soon.
ARM develops and licenses high-performance, low-cost, and energy-efficient CPU products and related technology, which is used by semiconductor companies and OEMs to develop their own products.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


ARM Holdings IPO Lock-Up Expiry - A US$127bn Lockup Release Might Be Too Tempting to Pass On

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

Thematic (Sector/Industry)

<ul>
<li>The AI GPU market has been exploding, and this has turned the DRAM market's downturn into a strong upturn</li>
<li>With this growth, DRAM manufacturers have seen their business turn around, thanks to increased use of HBM</li>
<li>Two questions concern us: Will AI growth last? Will increased competition in HBM DRAM create a price collapse?</li>
</ul>


The AI GPU market has been exploding, and this has turned the DRAM market's downturn into a strong upturn
With this growth, DRAM manufacturers have seen their business turn around, thanks to increased use of HBM
Two questions concern us: Will AI growth last? Will increased competition in HBM DRAM create a price collapse?


The Big Question: Can Today's AI Surge Last?

Podcast of business and financial stories, Behind the Money

Behind the Money

Podcast of business and financial stories

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world.

Equity Bottom-Up

<ul><li>OpenAI, founded in 2015 as a nonprofit research lab, has transitioned into a for-profit entity with ambitious goals of creating artificial general intelligence to benefit humanity.</li><li>The company's CEO, Sam Altman, is focused on solving the problem of super intelligence and has plans to set up his own semiconductor manufacturing pipeline and extend human lifespan.</li><li>OpenAI's business model now involves catering to enterprise customers to generate revenue, and they face challenges in balancing their grand mission with the need for significant investment.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

OpenAI, founded in 2015 as a nonprofit research lab, has transitioned into a for-profit entity with ambitious goals of creating artificial general intelligence to benefit humanity.The company's CEO, Sam Altman, is focused on solving the problem of super intelligence and has plans to set up his own semiconductor manufacturing pipeline and extend human lifespan.OpenAI's business model now involves catering to enterprise customers to generate revenue, and they face challenges in balancing their grand mission with the need for significant investment.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Is OpenAI’s business model sustainable?

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

Debt Capital Markets

<ul><li>Nvidia emerges as a strong challenger in the semiconductor industry, while intel remains the dominant player</li><li>Intel makes significant strides in its foundry business, showcasing a clear focus on advanced nodes like 18A and 14A</li><li>Intel positions itself as a serious player in the foundry market, attracting key customers like Microsoft and building a strong ecosystem around its offerings</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Nvidia emerges as a strong challenger in the semiconductor industry, while intel remains the dominant playerIntel makes significant strides in its foundry business, showcasing a clear focus on advanced nodes like 18A and 14AIntel positions itself as a serious player in the foundry market, attracting key customers like Microsoft and building a strong ecosystem around its offeringsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

IFS Connect Takeaways | Nvidia Earnings as the New Semiconductor King

Independent Research, US Dominant Players, Investment Talk

Investment Talk

Independent Research, US Dominant Players

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

<ul><li>I was today-years-old when I learned that Europe has its own version of the Magnificent 7; the basket of giga-cap US tech companies comprised of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.</li><li>The GRANOLAS Dubbed the “Granolas” by Goldman Sachs in 2020, this basket was chosen because it echoed themes present amongst the Mag 7 (back then it was just “FAAMG”) .</li><li>Namely, they were market leaders in the STOXX 600 Europe Index, they had grown to become an increasingly larger share of the market, and their earnings had far outpaced the broader index.<div></div></li></ul>

I was today-years-old when I learned that Europe has its own version of the Magnificent 7; the basket of giga-cap US tech companies comprised of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.The GRANOLAS Dubbed the “Granolas” by Goldman Sachs in 2020, this basket was chosen because it echoed themes present amongst the Mag 7 (back then it was just “FAAMG”) .Namely, they were market leaders in the STOXX 600 Europe Index, they had grown to become an increasingly larger share of the market, and their earnings had far outpaced the broader index.

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

ARM Holdings IPO Lock-Up Expiry - A US$127bn Lockup Release Might Be Too Tempting to Pass On

Softbank raised around US$4.9bn via selling some of its stake in ARM Holdings (ARM US)’ US IPO. Its remaining 90% stake will be released from its...

Sumeet Singh

The Big Question: Can Today's AI Surge Last?

Today there's a surge in AI spending, and this has led to a recovery for DRAM makers. This Insight questions where this money is coming from, and...

Jim Handy

Is OpenAI’s business model sustainable?

OpenAI, founded in 2015 as a nonprofit research lab, has transitioned into a for-profit entity with ambitious goals of creating artificial general...

Behind the Money

IFS Connect Takeaways | Nvidia Earnings as the New Semiconductor King

Intel positions itself as a serious player in the foundry market, attracting key customers like Microsoft and building a strong ecosystem around...

The Circuit

Europe's Magnificent Eleven

The GRANOLAS Dubbed the “Granolas” by Goldman Sachs in 2020, this basket was chosen because it echoed themes present amongst the Mag 7 (back then...

Investment Talk

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