Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years experience researching capital markets across Asia and the USA.

Managing Director, Zero One

Arm Q4 FY2026: Record Quarter, $2 Billion AGI CPU Pipeline But Soft Guidance Stings After Hours

TechChain Insights Q&A: Inside TSMC, Intel and SMIC's Advanced-Node Pipeline - M31 (6643 TT)

Taiwan April Sales Signals: AI Server Ramp Sustains & Memory Cycle Bleeds Into PC OEMs

TechChain Insights Q&A: Ambiq Micro (AMBQ US) — Ultra-Low-Power Pioneer Betting Big on Edge AI

AI's Biggest Winners Aren't NVDA and TSMC — They're the Suppliers

TechChain Insights: Himax (HIMX) Q&A — Automotive Display Dominance Meets Edge AI and Photonics

TSMC 1Q26: 66% Gross Margin Beat — What It Means for ASML, NVIDIA, MediaTek & 7 More

TSMC Keeps Beating. Consensus Expects 38% EPS Growth in 2026. 1H26 EPS Growth Is Above 50% YoY.

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

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Last independent RISC-V IP vendor standing. With MIPS, Codasip, and Nuclei exiting and ARM competing with its own licensees, Andes is the primary "flight-to-stability" beneficiary, anchored by ACE customer lock-in.</li>
<li>
Operating breakeven is an explicit 2026 objective. Management is targeting a 10% OPEX cut to NT$1.7B and a 20% revenue ramp from the FY2025 base of NT$1.478B.</li>
<li>
Cuzco announcement within a month is the next catalyst. Business arrangements and development schedule for the Neoverse-class core will be officially disclosed separately, alongside ramping AX46MPV and automotive design wins.</li>
</ul>



Last independent RISC-V IP vendor standing. With MIPS, Codasip, and Nuclei exiting and ARM competing with its own licensees, Andes is the primary "flight-to-stability" beneficiary, anchored by ACE customer lock-in.

Operating breakeven is an explicit 2026 objective. Management is targeting a 10% OPEX cut to NT$1.7B and a 20% revenue ramp from the FY2025 base of NT$1.478B.

Cuzco announcement within a month is the next catalyst. Business arrangements and development schedule for the Neoverse-class core will be officially disclosed separately, alongside ramping AX46MPV and automotive design wins.


TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

TechChain Insights Q&A: ARM's Only Listed Rival - Powering Meta and Taiwan's AI Cycle - Andes (6533 TT)

ARM Holdings

TechChain Insights Q&A: ARM's Only Listed Rival - Powering Meta and Taiwan's AI Cycle - Andes (6533 TT)