Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

Stargate. It's Not All About You Microsoft. Or You Either Elon

Working Capital Strain: Why Nvidia’s Cash Flow Isn’t Keeping Up with Its Profits

OpenAI’s Path to Profitability Is Blocked by a $115B Compute Burden

Networking Powers Nvidia's Quarter, but Core Growth Under Scrutiny

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Equity Bottom-Up

<ul>
<li>OpenAI’s growth model relies on an intricate loop of vendor financing, aggressive forward contracts, and $80B+ in projected external capital.</li>
<li>Long-Dated chip commitments seem less about immediate infra demand and more about bolstering OpenAI’s fundraising optics by showcasing secured access to future capacity.</li>
<li>If credit tightens or execution slips, the weakest links—OEMs and private equity firms backing infra-hungry AI startups—may snap first, with cascading effects on Nvidia, AMD, and TSMC to follow.</li>
</ul>


OpenAI’s growth model relies on an intricate loop of vendor financing, aggressive forward contracts, and $80B+ in projected external capital.
Long-Dated chip commitments seem less about immediate infra demand and more about bolstering OpenAI’s fundraising optics by showcasing secured access to future capacity.
If credit tightens or execution slips, the weakest links—OEMs and private equity firms backing infra-hungry AI startups—may snap first, with cascading effects on Nvidia, AMD, and TSMC to follow.


TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

TSMC (Taiwan Semiconductor Manufacturing) - ADR

OpenAI and Its House Built on GPUs, Debt, and Leveraged Demand