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

What NVIDIA Has to Commit to Deliver 70% Growth

Compute Futures and the Market Price of GPU Obsolescence

NVIDIA @ Goldman Sachs Communacopia + Technology Conference 2026. Key Takeaways & Full Transcript

Big Tech's $3tn Shadow Balance Sheet: AI's Hidden Leverage Crisis and the Shareholder Return Dilemma

The Great AI Arbitrage: Plunging Token Prices Meet Surging Capex

Anthropic's Latest Misstep Is A Game Changer For Sovereign & Open Source AI

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Thematic (Sector/Industry)

United states Software and services / Thematic (Sector/Industry)

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<li>
Compute Is Perishable Inventory: racks earn nothing merely plugged in, and unallocated GPU hours expire immediately. Hyperscaler returns hinge on billable utilisation before chip obsolescence erodes installed fleets' residual values.</li>
<li>
Accounting Masks Capital Exposure: disclosed off-balance-sheet commitments exceed $3.1 trillion. Useful-life extensions and lease reclassifications reduce reported headline capex without lowering actual cash outlays, obscuring true infrastructure intensity.</li>
<li>
Quality of Demand Is Shifting: Multi-year RPO backlogs offer duration visibility, not locked-in returns. With compute futures launching, spot-to-contract spreads and post-trial enterprise conversion will reveal true marginal capacity yield.</li>
</ul>



Compute Is Perishable Inventory: racks earn nothing merely plugged in, and unallocated GPU hours expire immediately. Hyperscaler returns hinge on billable utilisation before chip obsolescence erodes installed fleets' residual values.

Accounting Masks Capital Exposure: disclosed off-balance-sheet commitments exceed $3.1 trillion. Useful-life extensions and lease reclassifications reduce reported headline capex without lowering actual cash outlays, obscuring true infrastructure intensity.

Quality of Demand Is Shifting: Multi-year RPO backlogs offer duration visibility, not locked-in returns. With compute futures launching, spot-to-contract spreads and post-trial enterprise conversion will reveal true marginal capacity yield.


The Perishable Rack: AI Capex as an Inventory Cycle