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

Beyond Chips and Capex: Private Credit in the AI Ecosystem

Samsung Life, Samsung F&M Insurance, & Samsung Securities - Exposure to Blackstone's Private Credit?

Samsung Life Insurance and Samsung F&M Plan to Sell 1.5 Trillion Won Worth of Samsung Electronics

NVIDIA Enters Earnings With Strong Margins but Rising Inventory Intensity

NVIDIA Meets the Bar; Working Capital Remains Elevated

Nvidia: All Good. Consensus Will Keep Revising Up, Stock Is Getting Cheaper – but Patience Required

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Equity Bottom-Up

<ul>
<li>Nvidia’s rising inventories and receivables have raised questions about early signs of channel digestion, but downstream balance sheets tell a different story.</li>
<li>Dell’s working capital expansion and record $43B AI backlog suggest Nvidia shipments are not stalling in the channel.</li>
<li>CoreWeave’s $66.8B backlog and debt-funded infrastructure highlight how the real risk lies in financing durability.</li>
</ul>


Nvidia’s rising inventories and receivables have raised questions about early signs of channel digestion, but downstream balance sheets tell a different story.
Dell’s working capital expansion and record $43B AI backlog suggest Nvidia shipments are not stalling in the channel.
CoreWeave’s $66.8B backlog and debt-funded infrastructure highlight how the real risk lies in financing durability.


Reading Nvidia Through the Stack: Dell and CoreWeave Show Deployment Still Scaling

NVIDIA Corp

Reading Nvidia Through the Stack: Dell and CoreWeave Show Deployment Still Scaling