India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

Thematic (Sector/Industry)

<ul>
<li>Alphabet raised USD 80 billion in fresh equity and plans USD 185 billion capex in 2026, as AI demand outpaces available chips and power.</li>
<li>Hyperscaler capex could cross USD 1 trillion in 2027, creating supply-chain opportunities in power, packaging, and data centre infrastructure for India-listed firms.</li>
<li>India’s gap is structural. Realistic opportunities are in power, EPC, and advanced packaging not in competing with Google at the AI frontier.</li>
</ul>


Alphabet raised USD 80 billion in fresh equity and plans USD 185 billion capex in 2026, as AI demand outpaces available chips and power.
Hyperscaler capex could cross USD 1 trillion in 2027, creating supply-chain opportunities in power, packaging, and data centre infrastructure for India-listed firms.
India’s gap is structural. Realistic opportunities are in power, EPC, and advanced packaging not in competing with Google at the AI frontier.


The $1 Trillion Signal: Why Alphabet’s $80B Raise Is India’s Wake-Up Call, Not Its Blueprint?

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

<ul><li>The aggressive global sell-off across listed tech reflects a rapid change in how the market is thinking about AI risk for software companies, as large language models improve quickly.</li><li>If large model providers take over more of the interface and decision-making, some software vendors risk losing their grip on the customer relationship.</li><li>We remain OUTPERFORM on Vista Group (VGL), Gentrack (GTK) and Serko (SKO), which we continue to view constructively, underpinned by: (1) large proprietary data sets; (2) deep domain expertise across complex workflows; and (3) long-standing, trusted client relationships.</li></ul>

The aggressive global sell-off across listed tech reflects a rapid change in how the market is thinking about AI risk for software companies, as large language models improve quickly.If large model providers take over more of the interface and decision-making, some software vendors risk losing their grip on the customer relationship.We remain OUTPERFORM on Vista Group (VGL), Gentrack (GTK) and Serko (SKO), which we continue to view constructively, underpinned by: (1) large proprietary data sets; (2) deep domain expertise across complex workflows; and (3) long-standing, trusted client relationships.

Tech Sector: The Software Endgame Who Owns The Workflow

Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Sacra estimates that Harvey crossed $400M in annual recurring revenue (ARR) in August 2026, up from $195M at the end of 2025.</li><li>In September 2026, Harvey raised $550M at a $15.5B valuation, co-led by Diffusion and Lightspeed Venture Partners.</li><li>Harvey has tailwinds from the rapid advancement of LLM technology and growing enterprise acceptance of AI tools, with opportunities to expand beyond legal services into the broader professional services market.</li></ul>

Sacra estimates that Harvey crossed $400M in annual recurring revenue (ARR) in August 2026, up from $195M at the end of 2025.In September 2026, Harvey raised $550M at a $15.5B valuation, co-led by Diffusion and Lightspeed Venture Partners.Harvey has tailwinds from the rapid advancement of LLM technology and growing enterprise acceptance of AI tools, with opportunities to expand beyond legal services into the broader professional services market.

<ul><li>Sacra estimates that Perplexity hit $750M in annualized revenue in August 2026, up from $232M at the end of 2025.</li><li>Perplexity was valued at $20B after raising $200M in a round announced in September 2025.</li><li>Perplexity operates on a tiered subscription model.</li></ul>

Sacra estimates that Perplexity hit $750M in annualized revenue in August 2026, up from $232M at the end of 2025.Perplexity was valued at $20B after raising $200M in a round announced in September 2025.Perplexity operates on a tiered subscription model.

<ul><li>Sacra estimates that Scale generated $2B in revenue in 2025, up from $870M in 2024, when it hit a $1.5B annualized run rate by end of year.</li><li>Meta's June 2025 investment values Scale at $29 billion, with Meta paying $14.3B for a 49% non-voting stake.</li><li>Meta's $14.3B investment for 49% ownership in June 2025 triggered customer flight from Scale's largest clients.</li></ul>

Sacra estimates that Scale generated $2B in revenue in 2025, up from $870M in 2024, when it hit a $1.5B annualized run rate by end of year.Meta's June 2025 investment values Scale at $29 billion, with Meta paying $14.3B for a 49% non-voting stake.Meta's $14.3B investment for 49% ownership in June 2025 triggered customer flight from Scale's largest clients.

United States

AI lab building chatbots and models using real-time data from X and SpaceX

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xAI (XAI US)

The $1 Trillion Signal: Why Alphabet’s $80B Raise Is India’s Wake-Up Call, Not Its Blueprint?

Alphabet's massive equity raise and capex plans signal growing demand for AI chips, creating supply-chain opportunities for Indian firms in power,...

Sudarshan Bhandari

Tech Sector: The Software Endgame Who Owns The Workflow

The aggressive global sell-off across listed tech reflects a rapid change in how the market is thinking about AI risk for software companies, as...

Forsyth Barr

Primer: Harvey - 16 Sep 2026

AI assistant for legal research and document review used by law firms and in-house counsel

Sacra

Primer: Perplexity - 24 Aug 2026

AI-powered search tool for answering complex, multi-sentence queries with cited summaries

Sacra

Primer: Scale AI - 10 Jul 2026

Tooling suite for data labeling, model training, and deployment for enterprise ML teams

Sacra

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The $1 Trillion Signal: Why Alphabet’s $80B Raise Is India’s Wake-Up Call, Not Its Blueprint?

​Alphabet's massive equity raise and capex plans signal growing demand for AI chips, creating supply-chain opportunities for Indian firms in power,...

Sudarshan Bhandari

Tech Sector: The Software Endgame Who Owns The Workflow

The aggressive global sell-off across listed tech reflects a rapid change in how the market is thinking about AI risk for software companies, as...

Forsyth Barr

Primer: Harvey - 16 Sep 2026

AI assistant for legal research and document review used by law firms and in-house counsel

Sacra

Primer: Perplexity - 24 Aug 2026

AI-powered search tool for answering complex, multi-sentence queries with cited summaries

Sacra

Primer: Scale AI - 10 Jul 2026

Tooling suite for data labeling, model training, and deployment for enterprise ML teams

Sacra

Alphabet's massive equity raise and capex plans signal growing demand for AI chips, creating supply-chain opportunities for Indian firms in power,...