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.

Equity Bottom-Up

<ul><li>Nebius Group recently announced its fourth-quarter 2025 earnings, revealing a robust financial performance strongly driven by growth in its AI cloud business.</li><li>The company's revenue for Q4 amounted to $228 million, showing an impressive year-over-year growth of 547% and a substantial quarter-over-quarter increase of 56%.</li><li>The annualized run rate revenue hit $1.2 billion, surpassing the high-end guidance provided in the previous quarter.</li></ul>

Nebius Group recently announced its fourth-quarter 2025 earnings, revealing a robust financial performance strongly driven by growth in its AI cloud business.The company's revenue for Q4 amounted to $228 million, showing an impressive year-over-year growth of 547% and a substantial quarter-over-quarter increase of 56%.The annualized run rate revenue hit $1.2 billion, surpassing the high-end guidance provided in the previous quarter.

Nebius: Expanding GPU Capacity to Capture the Structural Growth of AI Workloads!

<ul><li>Nebius Group's third-quarter 2025 financial performance demonstrated significant revenue growth and demand strength, albeit accompanied by some constraints and strategic challenges.</li><li>Arkady Volozh, the Founder and CEO, highlighted robust demand, particularly from high-profile customers such as Meta and Microsoft.</li><li>The company reported a major deal with Meta valued at approximately $3 billion over five years and a previous deal with Microsoft ranging from $17.4 billion to $19.4 billion.</li></ul>

Nebius Group's third-quarter 2025 financial performance demonstrated significant revenue growth and demand strength, albeit accompanied by some constraints and strategic challenges.Arkady Volozh, the Founder and CEO, highlighted robust demand, particularly from high-profile customers such as Meta and Microsoft.The company reported a major deal with Meta valued at approximately $3 billion over five years and a previous deal with Microsoft ranging from $17.4 billion to $19.4 billion.

Nebius: Inside the Massive AI Data-Center Expansion Powering Its Next Growth Phase!

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

<div><ul><li>Strong Nvidia beat reinforces strength in demand environment for AI. </li><li>Nvidia’s 3QFY26 results materially exceeded consensus expectations, with revenue of $57.0 billion (+22% Q/Q, +62% Y/Y) versus Street estimates of ~$54.9 billion and adjusted EPS of $1.30 versus Street estimates of $1.25.</li><li>Data center revenue of $51.2 billion handily surpassed consensus of ~$49.0 billion, accounting for 90% of total revenue and underscoring sustained enterprise AI adoption.</li></ul></div>

Strong Nvidia beat reinforces strength in demand environment for AI. Nvidia’s 3QFY26 results materially exceeded consensus expectations, with revenue of $57.0 billion (+22% Q/Q, +62% Y/Y) versus Street estimates of ~$54.9 billion and adjusted EPS of $1.30 versus Street estimates of $1.25.Data center revenue of $51.2 billion handily surpassed consensus of ~$49.0 billion, accounting for 90% of total revenue and underscoring sustained enterprise AI adoption.

Nvidia Earnings Read-Across; Now for Something (Very) Different!

<ul><li>Massive AI infrastructure boom. There is a massive data center investment cycle driven by artificial intelligence (AI). </li><li>The global AI infrastructure market will surge from $88 billion in 2025 to $198 billion by 2030 (18% CAGR), with the independent AI cloud segment increasing significantly from $25 billion to $170 billion (48% CAGR).</li><li> The shift to inference is a significant driver, which, as a share of workloads (versus training), is expected to shift from 20% to 80%, creating a massive opportunity for specialized providers over general-purpose hyperscalers</li></ul>

Massive AI infrastructure boom. There is a massive data center investment cycle driven by artificial intelligence (AI). The global AI infrastructure market will surge from $88 billion in 2025 to $198 billion by 2030 (18% CAGR), with the independent AI cloud segment increasing significantly from $25 billion to $170 billion (48% CAGR). The shift to inference is a significant driver, which, as a share of workloads (versus training), is expected to shift from 20% to 80%, creating a massive opportunity for specialized providers over general-purpose hyperscalers

Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

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.

Cross Asset Strategy

<ul><li>Short interest built across cybersecurity names this week, with CRWD leading single-stock moves as analysts cut targets and insiders sold.</li><li>Broad ETF hedges unwound sharply — IJH and CIBR each posted double-digit short interest drops.</li><li>Borrow markets tightened in pockets, with MSFT seeing its sharpest SI spike in months.</li></ul>

Short interest built across cybersecurity names this week, with CRWD leading single-stock moves as analysts cut targets and insiders sold.Broad ETF hedges unwound sharply — IJH and CIBR each posted double-digit short interest drops.Borrow markets tightened in pockets, with MSFT seeing its sharpest SI spike in months.

Weekly Digest: Short Sellers Reload Into Cyber, Flee ETF Hedges

Netherlands

Nebius Group is a technology company providing infrastructure and services to AI builders globally. The group's core business, Nebius, is an AI-centric cloud platform built for AI workloads. Nebius Group serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Nebius Group (NBIS US)

Nebius: Expanding GPU Capacity to Capture the Structural Growth of AI Workloads!

Nebius Group recently announced its fourth-quarter 2025 earnings, revealing a robust financial performance strongly driven by growth in its AI...

Baptista Research

Nebius: Inside the Massive AI Data-Center Expansion Powering Its Next Growth Phase!

Nebius Group's third-quarter 2025 financial performance demonstrated significant revenue growth and demand strength, albeit accompanied by some...

Baptista Research

Nvidia Earnings Read-Across; Now for Something (Very) Different!

Nvidia’s 3QFY26 results materially exceeded consensus expectations, with revenue of $57.0 billion (+22% Q/Q, +62% Y/Y) versus Street estimates of...

Water Tower Research

NBIS: "Neo" Of the Cloud?

. We also expect the shift from training to inference business to be positive for the margins of infrastructure providers like Nebius.

Water Tower Research

Weekly Digest: Short Sellers Reload Into Cyber, Flee ETF Hedges

Short interest built across cybersecurity names this week, with CRWD leading single-stock moves as analysts cut targets and insiders sold. Broad...

ORTEX Market Intel

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)