Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Introducing AI Flow Private Pools Newsletter. Using data from PM Insights, we examine the monthly valuation changes in private companies in the AI space.</li><li>Unlike traditional company valuation assessments done quarterly, PM Insights data show equity price fluctuations between funding rounds and regular financial reporting periods.</li><li>We are following ~46 private companies in AI from PM Insights data and created a WTR AI Private Pools Index, with a market value (as of 3/9/26) of $1.73 trillion.</li></ul>

Introducing AI Flow Private Pools Newsletter. Using data from PM Insights, we examine the monthly valuation changes in private companies in the AI space.Unlike traditional company valuation assessments done quarterly, PM Insights data show equity price fluctuations between funding rounds and regular financial reporting periods.We are following ~46 private companies in AI from PM Insights data and created a WTR AI Private Pools Index, with a market value (as of 3/9/26) of $1.73 trillion.

AI Flow Private Pools Newsletter : Exploring Private Company Valuations in AI

Podcast from BlackRock, The Bid

The Bid

Podcast from BlackRock

The Bid breaks down what’s happening in the world of investing and explores the forces changing the economy and finance. From stock market outlooks and megatrends to geopolitics and technology, BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

<ul><li>AI models are becoming more power hungry, leading to a surge in electricity demand</li><li>Energy landscape is shifting due to AI industrial revolution, with exponential increase in power demand</li><li>Investment in AI infrastructure is massive, but skeptics question the need and clarity of AI use cases in the real world</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

AI models are becoming more power hungry, leading to a surge in electricity demandEnergy landscape is shifting due to AI industrial revolution, with exponential increase in power demandInvestment in AI infrastructure is massive, but skeptics question the need and clarity of AI use cases in the real worldThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

250: Powering AI 2.0: Why the AI Boom Is Becoming an Energy Story

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>At the India AI Impact Summit 2026, <a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RELIANCE IN)</a> and Tata Group announced historic capex plans for sovereign AI, while NVIDIA, OpenAI inked landmark infrastructure with Indian conglomerates.</li>
<li>This marks India's transition from an AI consumer to  "Sovereign AI" producer, reducing reliance on global clouds and positioning domestic players as owners of the "intelligence" stack rather than facilitators.</li>
<li>Investors should monitor the rapid rerating of Indian "AI infrastructure" plays: data centers, power, and high-end IT—as the "Intelligence-as-a-Service" model begins to disrupt traditional linear headcount-linked IT growth.</li>
</ul>


At the India AI Impact Summit 2026, Reliance Industries (RELIANCE IN) and Tata Group announced historic capex plans for sovereign AI, while NVIDIA, OpenAI inked landmark infrastructure with Indian conglomerates.
This marks India's transition from an AI consumer to  "Sovereign AI" producer, reducing reliance on global clouds and positioning domestic players as owners of the "intelligence" stack rather than facilitators.
Investors should monitor the rapid rerating of Indian "AI infrastructure" plays: data centers, power, and high-end IT—as the "Intelligence-as-a-Service" model begins to disrupt traditional linear headcount-linked IT growth.


India AI Impact Summit 2026: From "Back-Office" To "Sovereign AI Factory"

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.

<ul>
<li>Nvidia's recent partnership yet again enforces the idea of AI infra expansion no longer being solely driven by hyperscaler balance sheets; external capital is increasingly underwriting capacity buildouts.</li>
<li>AMD is attempting to enter AI deployments earlier in the decision cycle, positioning its hardware within sovereign and enterprise infrastructure plans.</li>
<li>Frontier AI labs are beginning to emphasise compute economics and margin structure, reflecting the growing importance of sustainable infrastructure utilisation.</li>
</ul>


Nvidia's recent partnership yet again enforces the idea of AI infra expansion no longer being solely driven by hyperscaler balance sheets; external capital is increasingly underwriting capacity buildouts.
AMD is attempting to enter AI deployments earlier in the decision cycle, positioning its hardware within sovereign and enterprise infrastructure plans.
Frontier AI labs are beginning to emphasise compute economics and margin structure, reflecting the growing importance of sustainable infrastructure utilisation.


[Wafer Watch] AI Is Scaling Physically Faster Than Its Economics Are Settling

AI and Energy Infrastructure, Explained Plainly, The Physical Layer

The Physical Layer

AI and Energy Infrastructure, Explained Plainly

A journal on the physical constraints behind the AI buildout: power, grid connection, data centres, cooling and the supply chains that gate them. Written to be understood by anyone.

Equity Bottom-Up

<ul><li>Broadcom makes the switch chips that let thousands of AI processors work as one machine, whoever made the processors.</li><li>It also designs the custom AI chips that Google, Meta, OpenAI and others are building to rely less on Nvidia.</li><li>So whichever way the biggest buyers turn, the work runs through Broadcom, and the risk sits with a handful of very powerful customers.</li></ul>

Broadcom makes the switch chips that let thousands of AI processors work as one machine, whoever made the processors.It also designs the custom AI chips that Google, Meta, OpenAI and others are building to rely less on Nvidia.So whichever way the biggest buyers turn, the work runs through Broadcom, and the risk sits with a handful of very powerful customers.

Broadcom is paid whether the cloud giants stay with Nvidia or leave

United States

OpenAI, L.P. operates as a software company. The Company specializes in AI research and deployment that aims to ensure that artificial general intelligence benefits all of humanity. OpenAI serves customers worldwide.

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OpenAI (2193707D US)

250: Powering AI 2.0: Why the AI Boom Is Becoming an Energy Story

The increasing power demands of AI models are reshaping the energy landscape, with investments of over $1 trillion per year in the US alone, as...

The Bid

India AI Impact Summit 2026: From "Back-Office" To "Sovereign AI Factory"

At India AI Impact Summit 2026, Reliance Industries and Tata Group unveil historic capex plans for sovereign AI, shifting India from AI consumer...

Nimish Maheshwari

[Wafer Watch] AI Is Scaling Physically Faster Than Its Economics Are Settling

Nvidia is expanding AI infra with external capital, AMD is focusing onestablishing presence in sovereign and enterprise plans, while Frontier AI...

Mint Finance

Broadcom is paid whether the cloud giants stay with Nvidia or leave

Broadcom makes the switch chips that let thousands of AI processors work as one machine, whoever made the processors. It also designs the custom...

The Physical Layer

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AI Flow Private Pools Newsletter : Exploring Private Company Valuations in AI

Introducing AI Flow Private Pools Newsletter. Using data from PM Insights, we examine the monthly valuation changes in private companies in...

Water Tower Research

250: Powering AI 2.0: Why the AI Boom Is Becoming an Energy Story

The increasing power demands of AI models are reshaping the energy landscape, with investments of over $1 trillion per year in the US alone, as...

The Bid

India AI Impact Summit 2026: From "Back-Office" To "Sovereign AI Factory"

​At India AI Impact Summit 2026, Reliance Industries and Tata Group unveil historic capex plans for sovereign AI, shifting India from AI consumer...

Nimish Maheshwari

[Wafer Watch] AI Is Scaling Physically Faster Than Its Economics Are Settling

​Nvidia is expanding AI infra with external capital, AMD is focusing onestablishing presence in sovereign and enterprise plans, while Frontier AI...

Mint Finance

Broadcom is paid whether the cloud giants stay with Nvidia or leave

Broadcom makes the switch chips that let thousands of AI processors work as one machine, whoever made the processors. It also designs the custom...

The Physical Layer

At India AI Impact Summit 2026, Reliance Industries and Tata Group unveil historic capex plans for sovereign AI, shifting India from AI consumer...

Nvidia is expanding AI infra with external capital, AMD is focusing onestablishing presence in sovereign and enterprise plans, while Frontier AI...