The Bristol Gate U.S. Equity Strategy 2025 Q2 (AVGO)
Pitch Summary: Broadcom’s strong returns in Q2 were driven by demand for AI networking and custom accelerators, combined with synergies integrating VMware’s infrastructure software. We continue to believe the company has a significant opportunity ahead of it with its custom semiconductor chip business as hyperscalers look for efficient computing solutions to lower the cost of […]
Stenham Asset Management 2025 Q2 (MSFT)
Pitch Summary: Microsoft rallied approximately 32% in Q2 and a further 8% following earnings as Azure cloud growth significantly exceeded expectations. Management highlighted Azure AI revenues growing 175% year over year and a fivefold increase in the number of tokens processed, underscoring accelerating AI-driven demand. Importantly, AI is acting as a catalyst for broader cloud […]
Sands Capital Global Growth Fund 2025 Q2 (NVDA)
Pitch Summary: NVIDIA is the market-leading provider of AI technology. Its most recent results eased concerns about AI demand and the impact of export restrictions on China. Although the H20 ban created a $10.5 billion revenue headwind in the first half of 2025, demand remains strong. Excluding China, datacenter revenue grew 64 percent year-over-year and […]
Columbia Global Technology Growth Fund 2025 Q2 (AVGO)
Pitch Summary: Shares of fellow semiconductor giant Broadcom (AVGO) also outperformed during the quarter, as customer demand for the company’s custom accelerator chips remained insatiable… The company is on pace for 10 consecutive quarters of AI-related semiconductor growth and expects continued strong demand to persist. BSD Analysis: Broadcom is the pan-industrial oligopoly king, executing a […]
Ashva Capital Management 2025 Q2 (CRDO)
Pitch Summary: Credo is a stealthy compounder in the high -performance connectivity and data infrastructure space. As AI workloads explode and data centers scale up, Credo’s low -power, high -efficiency solutions are becoming increasingly mission -critical. We believe the co mpany is still early in its growth arc and well positioned to benefit from secular […]
Artisan Focus Fund 2025 Q2 (AVGO)
Pitch Summary: Historically, during tectonic computing shifts, the best investments throughout the cycle have typically been the technology leaders—whether it was IBM during the mainframe era, Intel and Microsoft during the PC era, Apple and Qualcomm during the smartphone era, or Amazon and Microsoft during the cloud computing era. We don’t see much reason to […]
Artisan Focus Fund 2025 Q2 (NVDA)
Pitch Summary: NVIDIA’s Computing Architecture Is Helping Enable the Scale Up of Agentic AI NVIDIA’s new accelerated compute architectures have enabled the scale up of agentic AI by reducing the inferencing costs per token. The B200 and B300 introduce higher density high-bandwidth memory (HBM) to remove bottlenecks for large context windows. For context, the GB300 […]
Columbia Global Technology Growth Fund 2025 Q3 (NVDA)
Pitch Summary: Core holding NVIDIA (NVDA) delivered strong gains during the quarter, as the company reported impressive quarterly results driven by extraordinary demand for its data-center products. Accelerating adoption of NVIDIA chips related to generative AI across hyperscalers, enterprise and sovereign customers resulted in quarterly revenue doubling compared to the prior year. With its unmatched […]
Columbia Global Technology Growth Fund 2025 Q3 (ALAB)
Pitch Summary: Shares of leading AI connectivity specialist Astera Labs (ALAB) more than doubled during the quarter, driven by exceptional quarterly results and growing investor enthusiasm around the company’s expanding role in next-generation AI data centers. The semiconductor company reported record revenue growth during the quarter, driven by insatiable demand for its new Scorpio line […]
The Bristol Gate U.S. Equity Strategy 2025 Q3 (AVGO)
Pitch Summary: Broadcom reported its third-quarter results on September 4, which exceeded analyst expectations for both revenue and EPS. The highlight of the quarter was the addition of a fourth significant customer for its custom AI accelerator (XPU) products, placing over $10 billion in orders to be shipped in Q3 2026. Continued growth from existing […]
Diamond Hill Mid Cap 2025 Q3 (CIEN)
Pitch Summary: Strong demand for networking systems company Ciena’s hyperscaler offerings has helped drive strong earnings growth. Hyperscaler demand is being fueled by AI-related projects, which management believes should translate to durable demand ahead. BSD Analysis: Ciena’s hyperscaler exposure anchors robust order growth, with AI data flow expansion sustaining top-line momentum. Operating leverage and 40%+ […]
Polen Capital – Emerging Markets Growth 2025 Q3 (ACCT)
Pitch Summary: Accton, a key enabler of AI infrastructure, delivered record revenues as global demand for high-performance networking surged. The company’s AI accelerator modules and switches have become critical to modern data center architecture, and its evolving market model favors more direct relationships with hyperscaler customers. Revenues and profits more than doubled year-to-date, reflecting exceptional […]
Sands Capital Technology Innovators Fund 2025 Q3 (NVDA)
Pitch Summary: NVIDIA continues to dominate the AI infrastructure buildout, delivering another strong quarter with datacenter revenue growth accelerating from 64% to 73% year-over-year, with guidance implying 84% growth next quarter. Ex-China sales have offset near-zero China contribution, with strong uptake expected for the upcoming “Vera Rubin” superchip, which will significantly expand compute performance and […]
Carillon Eagle Small Cap Growth Fund 2025 Q3 (RMBS)
Pitch Summary: Rambus provides technology and chips to the computer memory industry. The company’s evolution from a licensing and patent business into a product-driven model is progressing well. We expect healthy growth as hyperscaler capital expenditures continue. BSD Analysis: Rambus benefits from AI infrastructure expansion and hyperscaler investments, transforming into a scalable product business. Strong […]
Lord Abbett Developing Growth Fund 2025 Q3 (ASTR US)
Pitch Summary: Astera Labs was a leading contributor to performance, benefiting from continued AI infrastructure investment. The company’s semiconductors support advanced data movement across hyperscale data centers, a critical bottleneck in AI deployment. Management continues to execute well, with expanding design wins and margin improvement. Astera remains a core AI hardware enabler in the portfolio. […]
Alpha Wealth Funds – The Insiders Fund 2025 Q3 (MRVL)
Pitch Summary: Marvell (MRVL) is a leveraged play on the AI and data-center supercycle without NVIDIA-level valuation risk. Custom silicon demand from hyperscalers (Amazon, Microsoft) and its expanding optical and Ethernet footprint offer asymmetric upside. Gross margins are improving as legacy storage fades. Insider buying and a $5 B buyback underscore confidence. Short-term noise from […]
Artisan Global Discovery 2025 Q3 (PSTG)
Pitch Summary: Pure Storage is redefining enterprise data storage by sourcing raw NAND flash memory and building custom all-flash systems, which enhances cost efficiency. The company is gaining share in core enterprise markets, and its collaboration with SK hynix for hyperscale data center environments supports its efforts to expand its addressable market. During the quarter, […]
Driehaus Small Cap Growth Fund 2025 Q3 (CRDO US)
Pitch Summary: Credo was another major contributor to performance, benefiting from rising hyperscaler capex and cloud networking investment. The firm’s products enable efficient, low-power interconnects for AI-driven data centers. Driehaus emphasized Credo’s leadership in optical components and strong design-win pipeline across major cloud customers. The company’s growth reflects structural demand for bandwidth and energy efficiency […]
Baron Partners Fund (ANET)
Pitch Summary: This quarter, we re-established a position in Arista Networks, Inc., a leading provider of high-performance networking solutions for data centers, cloud providers, and enterprises. Shares pulled back earlier in the year despite strong fundamentals as investors worried about order normalization and the timing of AI-related demand. We see Arista as a prime beneficiary […]
Baron Opportunity Fund (NVDA)
Pitch Summary: NVIDIA Corporation develops and manufactures leading graphics processors, server processors, and AI software. NVIDIA shares were the largest contributor to performance again this quarter as the company continued to execute extraordinarily well, driven by the explosive growth in AI infrastructure investment, where it commands a dominant market share in AI training and inference […]
