Daily Brief TMT/Internet: Scsk Corp, Chroma Ate Inc, Groww, Pony AI, NVIDIA Corp, Fiserv, SK Hynix, Mobileye Global and more

• In response to the Nikkei report, Scsk Corp (9719 JP) has recommended a tender offer from Sumitomo Corp (8053 JP) at JPY5,700, a 31.5% premium to the last close.
• The offer is attractive compared to precedent transactions, is above the midpoint of the IFA DCF valuation range and represents an all-time high. 
• An attractive offer facilitates deal completion. The tender runs from 30 October to 12 December, with payment commencing from 19 December.

• Today, the Nikkei reported that Sumitomo Corp (8053 JP) plans to privatise Scsk Corp (9719 JP) through a tender offer. Both shares were placed on a trading halt.
• The Nikkei states that the total acquisition cost would be around JPY800 billion, based on an arbitrary assumption that the offer will be around 20% above the undisturbed price.
• The privatisation is strategically sensible. The rumoured offer price of JPY5,109.60 is attractive compared to peer multiples and would represent an all-time high. 

• A massive rally in Chroma Ate Inc (2360 TT) should see the stock added to a global index in November and then to another country ETF in December.
• With one exception, Chroma Ate Inc (2360 TT) has outperformed its peers over the last 6 months. With large buying to come, that could continue in the short-term.
• There is positioning in Chroma Ate Inc (2360 TT) and its peers. With continued momentum in the stock, the path of least resistance is higher.

• Groww (1573648D IN) is looking to list on the exchanges by selling 663.23m shares via a primary and secondary offering to raise US$752m at a valuation of US$7bn.
• The price band has been set at INR 95-100/share, and the issue is likely to price at the top end of the range.
• The stock will not get Fast Entry to global indices. Inclusion at regular rebalances will commence in June 2026 but flow will be small given the low float.

• Pony.ai is getting ready to complete its IPO in Hong Kong in the coming weeks. Pony.ai is one of the leading autonomous driving companies in China. 
• Pony.ai plans to sell 41.96 million Class A shares under its global offering in Hong Kong, including 4.2 million shares for Hong Kong retail investors.
• The maximum offer price of the Hong Kong IPO is HK$180 (US$23) per share, which could value the company at more than US$10 billion.

• Nvidia CEO said he has a $500bn AI order book. If over the next 7 quarters, it means growth will remain at ~60% YoY till Apr-27. No slowdown. That’s possible.
• If it’s over the next 5 quarters (which is what he actually said), it’s enormous growth reaching ~200% YoY in 2H26. I doubt that the supply chain can do that.
• Consensus is the lowest with most room for upside: Memory stocks. Consensus too low by ~20%: Nvidia. Just a it too low: TSMC.

Key points (machine generated)

• Fiserv is a leading global technology provider in financial services, serving over 1,000 institutions and excelling in multiple sectors.
• The company has achieved nearly 40 years of double-digit adjusted EPS growth and is well-positioned for continued expansion.
• Investor focus on Clover’s GPV growth has overshadowed other business strengths, causing market reactions that reflect a disconnect in perception.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• SK Hynix reported Q325 revenues of ₩34.45 trillion, up +10% QoQ and up 39% YoY representing an all time quarterly revenue record
• Now given the customers demand and the company’s capacity for next year not only HBM but DRAM and NAND capacity has essentially been sold out.
• DRAM margin could rise closer to HBM but the company does not plan to immediately adjust the capacity mix based on what can be a short-lived change in profitability

• SK Hynix is exceptionally well-positioned to capitalize on the artificial intelligence supercycle, driven by its market-leading position in High Bandwidth Memory (HBM), a critical component for AI accelerators.
• The company is experiencing a period of record financial performance, with surging revenue and profitability fueled by insatiable HBM demand and a broader recovery in the DRAM and NAND markets.
• While facing intensified competition from rivals Samsung and Micron, SK Hynix is aggressively investing in next-generation technologies (HBM4, AI-NAND) and expanding production capacity to solidify its competitive advantages and meet future demand.

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• Mobileye’s earnings call for the third quarter of 2025 presents a nuanced picture of the company’s current state and future prospects.
• The company reported $504 million in revenue, showing a 4% year-over-year increase driven by an 8% growth in EyeQ volumes, despite only a modest 1% growth in overall vehicle production among its top customers.
• Operating cash flow for the quarter was robust at $167 million and has reached nearly $500 million year-to-date, reflecting a notable 150% year-over-year increase.