Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Bottom-Up

<ul>
<li>Figma Inc. reported a strong quarter pushing shares up over 5% after-hours as billings growth saw a significant acceleration and management raised guidance for FY25.</li>
<li>Revenue increased 38% YoY and growth of paid customers with ˃$100K in ARR accelerated to 44% YoY due to the adoption of new Figma products.</li>
<li>I think the stock could find a bottom above $40/shr. as valuation fell closer to Adobe’s ~$20B bid. Figma is one of the fastest growing SaaS companies with best-in-class metrics.</li>
</ul>


Figma Inc. reported a strong quarter pushing shares up over 5% after-hours as billings growth saw a significant acceleration and management raised guidance for FY25.
Revenue increased 38% YoY and growth of paid customers with ˃$100K in ARR accelerated to 44% YoY due to the adoption of new Figma products.
I think the stock could find a bottom above $40/shr. as valuation fell closer to Adobe’s ~$20B bid. Figma is one of the fastest growing SaaS companies with best-in-class metrics.


Figma Inc.(FIG.US): Quarterly Update. Billings Jumped, Valuation Fell Closer To Adobe’s ~$20B Bid

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>In Q126, Microsoft recorded $4.1 billion in net losses from investments in OpenAI, up from $688 million in the year ago quarter.</li>
<li>The newly updated partnership between Microsoft and OpenAI has many clauses contingent on when (not if) AGI gets declared. Since AGI has no actual definition, an expert panel will decide. </li>
<li>Sam Altman dreams of an OpenAI IPO so that detractors can be lured into shorting the stock and getting burned in the process. Revenue growth is a touchy subject, apparently</li>
</ul>


In Q126, Microsoft recorded $4.1 billion in net losses from investments in OpenAI, up from $688 million in the year ago quarter.
The newly updated partnership between Microsoft and OpenAI has many clauses contingent on when (not if) AGI gets declared. Since AGI has no actual definition, an expert panel will decide. 
Sam Altman dreams of an OpenAI IPO so that detractors can be lured into shorting the stock and getting burned in the process. Revenue growth is a touchy subject, apparently


Advanced Micro Devices / Equity Bottom-Up

<ul>
<li>OpenAI agrees to deploy 6 gigawatts of AMD GPUs based on a multi-year, multi-generation agreement. The deal could be worth upwards of $100 billion to AMD through 2030</li>
<li>AMD issued OpenAI a warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones are achieved, including AMD share price appreciation to $600</li>
<li>Could a strategic partnership with Intel now also be on the cards? After all, OpenAI needs CPUs as well as GPUs, especially as they ramp into enterprise. Just saying...</li>
</ul>


OpenAI agrees to deploy 6 gigawatts of AMD GPUs based on a multi-year, multi-generation agreement. The deal could be worth upwards of $100 billion to AMD through 2030
AMD issued OpenAI a warrant for up to 160 million shares of AMD common stock, structured to vest as specific milestones are achieved, including AMD share price appreciation to $600
Could a strategic partnership with Intel now also be on the cards? After all, OpenAI needs CPUs as well as GPUs, especially as they ramp into enterprise. Just saying...


OpenAI, AMD Enter Into Strategic Partnership. Guys, This Is Getting Ridiculous!

Podcast on In-depth Business Talks, Speedwell Research

The Synopsis

Podcast on In-depth Business Talks

Speedwell Research

Speedwell Research spends hundreds of hours researching public businesses each month and in "The Synopsis" they share their key learnings. Most business podcasts are superficial and assume their listeners are unsophisticated. In contrast, The Synopsis trusts listeners are interested in learning about complex, industry-specific issues, so long as they are explained clearly. We cover businesses from inception to current day, coupling business analysis and an investors lens. Start listening today to become a better analyst and investor.

Thematic (Sector/Industry)

<ul><li>US Government shutdown delays September jobs report, impacting Fed policy decisions</li><li>Markets largely unfazed by shutdown, focusing on structural drivers such as interest rates and earnings forecast</li><li>OpenAI's ChatGPT integration with Shopify and Etsy may signal a shift in marketplace model, impacting revenue and customer touchpoints</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

US Government shutdown delays September jobs report, impacting Fed policy decisionsMarkets largely unfazed by shutdown, focusing on structural drivers such as interest rates and earnings forecastOpenAI's ChatGPT integration with Shopify and Etsy may signal a shift in marketplace model, impacting revenue and customer touchpointsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Briefing. Why AI Could Mean the End of the Marketplace Model, Meta's Paranoid "Vibe", Coupang's D...

<ul>
<li>Inference compute is going increase by a factor of one billion. It's already gone up at least 2x in the past twelve months</li>
<li>OpenAI will become the next multi-trillion dollar hyperscaler. NVIDIA is going to make sure this happens</li>
<li>AI-Related revenues have already reached $1 trillion since all hypercaler revenues are now AI related according to Jensen. Problem solved!</li>
</ul>


Inference compute is going increase by a factor of one billion. It's already gone up at least 2x in the past twelve months
OpenAI will become the next multi-trillion dollar hyperscaler. NVIDIA is going to make sure this happens
AI-Related revenues have already reached $1 trillion since all hypercaler revenues are now AI related according to Jensen. Problem solved!


It's Official, OpenAI Is Becoming A Multi-Trillion Dollar Hyperscaler

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)

Figma Inc.(FIG.US): Quarterly Update. Billings Jumped, Valuation Fell Closer To Adobe’s ~$20B Bid

Figma Inc. reported strong quarterly results. The design software maker raised revenue guidance for FY25. i believe the stock could find a bottom...

Andrei Zakharov

Microsoft's OpenAI Conundrum

Sam Altman dreams of an OpenAI IPO so that detractors can be lured into shorting the stock and getting burned in the process. Revenue growth is a...

William Keating

OpenAI, AMD Enter Into Strategic Partnership. Guys, This Is Getting Ridiculous!

Could a strategic partnership with Intel now also be on the cards? After all, OpenAI needs CPUs as well as GPUs, especially as they ramp into...

William Keating

Briefing. Why AI Could Mean the End of the Marketplace Model, Meta's Paranoid "Vibe", Coupang's D...

The US Government shutdown delays September jobs report, but markets climb with limited economic consequences, as investors focus on interest...

The Synopsis

It's Official, OpenAI Is Becoming A Multi-Trillion Dollar Hyperscaler

AI-related revenues have already reached $1 trillion since all hypercaler revenues are now AI related according to Jensen. Problem solved!

William Keating

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