Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

Equity Bottom-Up

<ul><li>Chip design has long been a paradoxical craft.</li><li>On one hand, engineers must trust sophisticated software to help them craft circuits of mind-boggling complexity; on the other, they maintain a healthy skepticism, knowing a single flaw can doom a chip.</li><li>The old mantra "trust, but verify" could well have been coined for this process. </li></ul>

Chip design has long been a paradoxical craft.On one hand, engineers must trust sophisticated software to help them craft circuits of mind-boggling complexity; on the other, they maintain a healthy skepticism, knowing a single flaw can doom a chip.The old mantra "trust, but verify" could well have been coined for this process. 

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>Synopsys Inc. delivered a notable performance in the first quarter of fiscal year 2025, showing resilience amidst shifting market dynamics and broader economic uncertainties.</li><li>Synopsys reported revenue of $1.46 billion, slightly under its previous year's performance due to one less week in the quarter.</li><li>However, the company's non-GAAP earnings per share were above the guidance range, indicating solid financial management and operational execution.</li></ul>

Synopsys Inc. delivered a notable performance in the first quarter of fiscal year 2025, showing resilience amidst shifting market dynamics and broader economic uncertainties.Synopsys reported revenue of $1.46 billion, slightly under its previous year's performance due to one less week in the quarter.However, the company's non-GAAP earnings per share were above the guidance range, indicating solid financial management and operational execution.

Synopsys Inc.: How Is The Adoption of AI & Agentic AI Technologies Are Helping Them Aplify Their Efficiency In Electronic Design Automation?

<ul><li>Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings.</li><li>The company crossed the $6 billion revenue mark, with a 15% year over-year increase, driven by its strategic focus on high-growth segments like AI, silicon proliferation, and software-defined systems.</li><li>Synopsys has expanded its bottom line significantly, with EPS growing at a 24% CAGR over the past five years.</li></ul>

Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings.The company crossed the $6 billion revenue mark, with a 15% year over-year increase, driven by its strategic focus on high-growth segments like AI, silicon proliferation, and software-defined systems.Synopsys has expanded its bottom line significantly, with EPS growing at a 24% CAGR over the past five years.

Synopsys Inc.: How Is It Tackling The China Market & Dealing With Macro Uncertainties? - Major Drivers

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>US – China: Restrictions on Semiconductors are relaxed. EDA tool (Cadence, Synopsys) already relaxed, Nvidia says export license will come, this implies that HBM can be sold to China.     </li>
<li>It’s really hard to “guess” what comes next as US restrictions on technology export to China are just one bargaining tool in much broader negotiations (trade deficit, fentanyl, etc).   </li>
<li>For Cadence and Synopsys, China is 12% of revenues. For Nvidia, China is US$ 30-35bn revenue in 2025 (15-17%).  Positive to Samsung, supplying HBM3 (Nvidia’s H20), GDDR7 (RTX PRO).</li>
</ul>


US – China: Restrictions on Semiconductors are relaxed. EDA tool (Cadence, Synopsys) already relaxed, Nvidia says export license will come, this implies that HBM can be sold to China.     
It’s really hard to “guess” what comes next as US restrictions on technology export to China are just one bargaining tool in much broader negotiations (trade deficit, fentanyl, etc).   
For Cadence and Synopsys, China is 12% of revenues. For Nvidia, China is US$ 30-35bn revenue in 2025 (15-17%).  Positive to Samsung, supplying HBM3 (Nvidia’s H20), GDDR7 (RTX PRO).


Jensen Went to the White House, and to China

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mongodb-inc" target="_blank" data-smartkarma-citation="entities:26655:1" rel="noopener">MongoDB (MDB US)</a> is forecasted to be deleted from Nasdaq100 on 16 May due to an index weighting of lower than 0.1% on the last day of March and April.</li>
<li>
<a href="https://www.smartkarma.com/entities/shopify-inc-de74469e-4678-489b-9b50-a80a5790c5ef" target="_blank" data-smartkarma-citation="entities:25906:1" rel="noopener">Shopify (SHOP US)</a> is the forecasted replacement. The company became eligible following its listing transfer from NYSE to Nasdaq on 31 March.</li>
<li>
<a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a> and <a href="https://www.smartkarma.com/entities/ebay-inc" target="_blank" data-smartkarma-citation="entities:1291:1" rel="noopener">eBay Inc (EBAY US)</a> are the main addition candidates for the acquisition of <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a> by mid-2025 and the December 2025 review.</li>
</ul>



MongoDB (MDB US) is forecasted to be deleted from Nasdaq100 on 16 May due to an index weighting of lower than 0.1% on the last day of March and April.

Shopify (SHOP US) is the forecasted replacement. The company became eligible following its listing transfer from NYSE to Nasdaq on 31 March.

Alnylam Pharmaceuticals (ALNY US) and eBay Inc (EBAY US) are the main addition candidates for the acquisition of Ansys Inc (ANSS US) by mid-2025 and the December 2025 review.


MongoDB (MDB US): Fast-Exit from Nasdaq100 in May 2025

United States

Synopsys, Inc. supplies electronic design automation solutions to the global electronics market.  The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.

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Synopsys Inc (SNPS US)

Synopsys: Harnessing Complexity

Chip design has long been a paradoxical craft. On one hand, engineers must trust sophisticated software to help them craft circuits of mind...

MBI Deep Dives

Synopsys Inc.: How Is The Adoption of AI & Agentic AI Technologies Are Helping Them Aplify Their Efficiency In Electronic Design Automation?

Synopsys Inc. delivered a notable performance in the first quarter of fiscal year 2025, showing resilience amidst shifting market dynamics and...

Baptista Research

Synopsys Inc.: How Is It Tackling The China Market & Dealing With Macro Uncertainties? - Major Drivers

Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings. The company crossed the...

Baptista Research

Jensen Went to the White House, and to China

US eases restrictions on semiconductor exports to China, allowing for potential sales of HBM technology, positive to Samsung. China represents 12...

Nicolas Baratte

MongoDB (MDB US): Fast-Exit from Nasdaq100 in May 2025

MDB is set to be removed from Nasdaq100 on 16 May due to its low index weighting, with SHOP expected to replace it. ALNY and EBAY are potential...

Dimitris Ioannidis

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Synopsys: Harnessing Complexity

Chip design has long been a paradoxical craft. On one hand, engineers must trust sophisticated software to help them craft circuits of mind...

MBI Deep Dives

Synopsys Inc.: How Is The Adoption of AI & Agentic AI Technologies Are Helping Them Aplify Their Efficiency In Electronic Design Automation?

Synopsys Inc. delivered a notable performance in the first quarter of fiscal year 2025, showing resilience amidst shifting market dynamics and...

Baptista Research

Synopsys Inc.: How Is It Tackling The China Market & Dealing With Macro Uncertainties? - Major Drivers

Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings. The company crossed the...

Baptista Research

Jensen Went to the White House, and to China

​US eases restrictions on semiconductor exports to China, allowing for potential sales of HBM technology, positive to Samsung. China represents 12...

Nicolas Baratte

MongoDB (MDB US): Fast-Exit from Nasdaq100 in May 2025

MDB is set to be removed from Nasdaq100 on 16 May due to its low index weighting, with SHOP expected to replace it. ALNY and EBAY are potential...

Dimitris Ioannidis

US eases restrictions on semiconductor exports to China, allowing for potential sales of HBM technology, positive to Samsung. China represents 12...