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

[Part 3] What Advantest and FormFactor’s Earnings Say About CPO’s Bottleneck

Tower Semiconductor: The TSMC of the CPO Trade

[Part 1: The Materials Chokepoint] Looking Into (And Past) The Indium Price Story

[Part 1] Co-Packaged Optics: The Case For, and the Fine Print

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Thematic (Sector/Industry)

China Semiconductors and semiconductor equipment / Thematic (Sector/Industry)

<ul>
<li>Silicon photonics has been here for decades, but CPO creates a mandatory requirement of automated dual-domain wafer-level testing, a problem the industry is still industrialising </li>
<li>A ten-chiplet CPO assembly where each die yields at 95% produces a package yield of just 60%, making wafer-level screening the only economically viable lever before future packaging is committed.</li>
<li>Wafer-Level burn-in is essential but not sufficient; it screens for reliability, not optical functionality. CPO die must pass both, and the automated infrastructure to do that at scale is missing.  </li>
</ul>


Silicon photonics has been here for decades, but CPO creates a mandatory requirement of automated dual-domain wafer-level testing, a problem the industry is still industrialising 
A ten-chiplet CPO assembly where each die yields at 95% produces a package yield of just 60%, making wafer-level screening the only economically viable lever before future packaging is committed.
Wafer-Level burn-in is essential but not sufficient; it screens for reliability, not optical functionality. CPO die must pass both, and the automated infrastructure to do that at scale is missing.  


[Part 2] Known Good Die and the Test Bottleneck CPO Cannot Seem to Bypass