nVidia (NVDA US), Lies, Damn Lies, & Statistics, Inference + Energy, Tencent (700 HK), Grab Holdings (GRAB US)
Alētheia Capital
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The Five at Five newsletter is published every Friday and pulls together 5 showcase notes produced over the last 7 days from across the Alētheia Capital platform.
We'll mix it up a bit this week and start with technology hardware:
AI server demand has been initially bolstered by training applications.
AI #inference now picks up the baton.
Warren Lau & team remain ahead of the curve (as always!) baking this into their server model and their earnings for 英伟达 (NVDA US).
Next up, chief economist Dr. Jim Walker.
Always one to see the wood from the trees, Jim looks at what #GDP actually measures, what you can use as an alternative measure of growth, and where the world economies currently stand.
Inference rears its head again in the latest newsletter from thematic strategist Keith Woolcock .
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Keith's work dovetails nicely with Warren's and this week he looks at the rise of AI and the demand for the energy needed to fuel this automation of the economy.
We round up the week back at the single stock level:
腾讯 (700 HK) reported Q3 numbers.
Eric Wen (China internet) gives the numbers a once over. Progression on video accounts (VA) and overseas gaming into 2024 can be a driver.
Nirgunan Tiruchelvam (ASEAN e-Commerce) shares his latest thoughts on Grab Holdings (GRAB US).
Adjusted EBITDA positive for the first time in Q3FY23. Has the business turned the corner?
That's it for this week.
As ever, if you would like to follow up on any or all of the above, please get in touch!
Product Marketing Team