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>Nvidia beat revenue expectations by 1.5% with $46.7 billion in revenue; data centre growth underwhelmed, with compute slipping sequentially.</li>
<li>Blackwell is ramping at full speed, while Rubin’s six chips have already taped out at TSMC, keeping Nvidia’s annual launch cadence intact.</li>
<li>Inventory jumped to $15B, and China licenses remain uncertain, leaving little margin for error.</li>
</ul>


Nvidia beat revenue expectations by 1.5% with $46.7 billion in revenue; data centre growth underwhelmed, with compute slipping sequentially.
Blackwell is ramping at full speed, while Rubin’s six chips have already taped out at TSMC, keeping Nvidia’s annual launch cadence intact.
Inventory jumped to $15B, and China licenses remain uncertain, leaving little margin for error.


Networking Powers Nvidia's Quarter, but Core Growth Under Scrutiny

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>As geopolitical tensions intensify, Nvidia is walking a tightrope between U.S. export controls and China’s increasingly assertive push for self-reliance in critical technologies.</li><li>The chipmaker’s position as the dominant provider of AI semiconductors has forced it into delicate strategic maneuvers, especially in China, where demand remains strong but political scrutiny is mounting.</li><li>To preserve a foothold in this crucial market, Nvidia has introduced weakened chip designs to comply with U.S. restrictions, explored revenue-sharing deals with local partners, and restructured its supply chain to insulate operations from further shocks.</li></ul>

As geopolitical tensions intensify, Nvidia is walking a tightrope between U.S. export controls and China’s increasingly assertive push for self-reliance in critical technologies.The chipmaker’s position as the dominant provider of AI semiconductors has forced it into delicate strategic maneuvers, especially in China, where demand remains strong but political scrutiny is mounting.To preserve a foothold in this crucial market, Nvidia has introduced weakened chip designs to comply with U.S. restrictions, explored revenue-sharing deals with local partners, and restructured its supply chain to insulate operations from further shocks.

Nvidia’s $Billion China Gamble: Downgraded Chips, Government Cuts, & Geopolitics!

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

<ul>
<li>NVIDIA delivered another blockbuster quarter with record revenues of $30 billion, blowing well past the guided $28 billion, up 15% QoQ and up 122% YoY.</li>
<li>$5.6 billion in revenues were attributed to Singapore, making up more than 18% of overall revenues and up &gt;5 times YoY</li>
<li>What the heck is the city state doing with all of those GPUs?</li>
</ul>


NVIDIA delivered another blockbuster quarter with record revenues of $30 billion, blowing well past the guided $28 billion, up 15% QoQ and up 122% YoY.
$5.6 billion in revenues were attributed to Singapore, making up more than 18% of overall revenues and up &gt;5 times YoY
What the heck is the city state doing with all of those GPUs?


NVIDIA's >5x YoY "Singapore" Revenue Growth Is A Red Flag

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>News that DeepSeek's latest AI release appears to be superior to latest OpenAI's ChatGPT in  most (if not all) of the benchmark tasks have apparently shaken markets today. </li>
<li>DeepSeek may be able to beat its competitors (including other AI developed by other US companies like <a href="https://www.smartkarma.com/entities/meta-platforms-inc-class-a-facebook" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Meta Platforms (META US)</a> ), using lower cost chips and less data.</li>
<li>Tech companies like <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> are falling hard (like -12%) in pre-market, and so are the US Indices. Let's see where support for reversal rallies can be found.</li>
</ul>


News that DeepSeek's latest AI release appears to be superior to latest OpenAI's ChatGPT in  most (if not all) of the benchmark tasks have apparently shaken markets today. 
DeepSeek may be able to beat its competitors (including other AI developed by other US companies like Meta Platforms (META US) ), using lower cost chips and less data.
Tech companies like NVIDIA Corp (NVDA US) are falling hard (like -12%) in pre-market, and so are the US Indices. Let's see where support for reversal rallies can be found.


EQD | DeepSeek's New AI: Price Supports and Broader Implications for META, NVDA, S&P 500, Nasdaq 100

<ul>
<li>Nvidia’s smooth return to China hits turbulence as regulators question the H20 chip’s security.</li>
<li>AMD stays below the radar; less political baggage, and could be better positioned if Nvidia is slowed.</li>
<li>AMD also gets a lift from its Threadripper 9000 launch and a bullish analyst price upgrade.</li>
</ul>


Nvidia’s smooth return to China hits turbulence as regulators question the H20 chip’s security.
AMD stays below the radar; less political baggage, and could be better positioned if Nvidia is slowed.
AMD also gets a lift from its Threadripper 9000 launch and a bullish analyst price upgrade.


Nvidia’s Tightrope in China Narrows, AMD Watches From the Sidelines

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

Networking Powers Nvidia's Quarter, but Core Growth Under Scrutiny

Nvidia exceeded revenue expectations but faces challenges with data centre growth vis-à-vis falling compute, along with uncertainty in China...

Mint Finance

Nvidia’s $Billion China Gamble: Downgraded Chips, Government Cuts, & Geopolitics!

As geopolitical tensions intensify, Nvidia is walking a tightrope between U.S. export controls and China’s increasingly assertive push for...

Baptista Research

NVIDIA's >5x YoY "Singapore" Revenue Growth Is A Red Flag

Dr. Kim over at TSMC (allegedly?) is trying to trace all h100 & h800 shipments for the past two years. This Insight might be helpful :-)

William Keating

EQD | DeepSeek's New AI: Price Supports and Broader Implications for META, NVDA, S&P 500, Nasdaq 100

DeepSeek's latest AI release is shaking markets, tech companies like NVDA and META are plummeting, causing US Indices to follow suit. Analysis of...

Nico Rosti

Nvidia’s Tightrope in China Narrows, AMD Watches From the Sidelines

Regulators in China question Nvidia's H20 chip security, while AMD gains momentum with the Threadripper 9000 launch and a bullish analyst upgrade.

Mint Finance

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Networking Powers Nvidia's Quarter, but Core Growth Under Scrutiny

​Nvidia exceeded revenue expectations but faces challenges with data centre growth vis-à-vis falling compute, along with uncertainty in China...

Mint Finance

Nvidia’s $Billion China Gamble: Downgraded Chips, Government Cuts, & Geopolitics!

As geopolitical tensions intensify, Nvidia is walking a tightrope between U.S. export controls and China’s increasingly assertive push for...

Baptista Research

NVIDIA's >5x YoY "Singapore" Revenue Growth Is A Red Flag

Dr. Kim over at TSMC (allegedly?) is trying to trace all h100 & h800 shipments for the past two years. This Insight might be helpful :-)

William Keating

EQD | DeepSeek's New AI: Price Supports and Broader Implications for META, NVDA, S&P 500, Nasdaq 100

​DeepSeek's latest AI release is shaking markets, tech companies like NVDA and META are plummeting, causing US Indices to follow suit. Analysis of...

Nico Rosti

Nvidia’s Tightrope in China Narrows, AMD Watches From the Sidelines

​Regulators in China question Nvidia's H20 chip security, while AMD gains momentum with the Threadripper 9000 launch and a bullish analyst upgrade.

Mint Finance

Nvidia exceeded revenue expectations but faces challenges with data centre growth vis-à-vis falling compute, along with uncertainty in China...

DeepSeek's latest AI release is shaking markets, tech companies like NVDA and META are plummeting, causing US Indices to follow suit. Analysis of...

Regulators in China question Nvidia's H20 chip security, while AMD gains momentum with the Threadripper 9000 launch and a bullish analyst upgrade.