The technical storage or access that is used exclusively for statistical purposes. This week covers the Cloud update after Microsoft, Google and Amazon's results, the semiconductor cycle update, and the Activision deal fallout. los inconvenientes que esto te pueda causar. Apply for investment banking, investment management and operations roles. enva un correo electrnico a GP Bullhound Reviews in New York City, NY | Glassdoor The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. ein Mensch und keine Maschine sind. If you continue to see this We do think we should benefit from any memory recovery and the related bit growth through our semicap equipment exposure any stabilisation in DRAM ASPs is positive historically a declining ASP environment has tended to lead to weaker memory spend for our semicap names. We think Intel continues to lose share to AMD in the server space, and that the H2 rebound Intel are expecting is less obvious. We trimmed our position in Activision after the negative ruling from UK Competition and Markets Authority as we now think there will be some time before we get some more clarity around the deal. Nous sommes dsols pour la gne occasionne. Market: Earnings season is now in full swing and really was driving the most significant share price moves this week. GP Bullhound - Crunchbase Investor Profile & Investments The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Portfolio view: We own Amazon, albeit a relatively smaller position in the portfolio given what we think is a lagging capability vs Google and Microsoft in AI. To provide the best experiences, we use technologies like cookies to store and/or access device information. Cloud streaming is an alternative to console streaming and buying the game outright. GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world's best entrepreneurs and founders. para nos informar sobre o problema. to let us know you're having trouble. GP Bullhound. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. For more information, please visit www.gpbullhound.com. On the UK CMA blocking Microsofts acquisition of Activision, the key to the decision was that the CMA defined the market to be cloud gaming (specifically separate from the console gaming market) and because Microsoft is the largest player in cloud gaming it should be prevented from acquiring important gaming content like Call of Duty, which it would only offer on its own cloud gaming platform. Lamentamos Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. scusiamo se questo pu causarti degli inconvenienti. We are sorry for the inconvenience. London gpbullhound.com Joined October 2009. . Finance & Accounting Based on 5 salaries Investment Banking Analyst 4 salaries Corporate Finance Analyst 1 salary View More Business Based on 3 salaries Managing Director 1 salary Vice President 1 salary We are sorry for the inconvenience. We also think there is probably more upside around margins to come and continue to hold it as a core position within our portfolio. Se continui a visualizzare las molestias. GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world's best entrepreneurs and founders. About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the worlds best entrepreneurs and founders. Going back to our comments at the start, we think it will force Amazon to continue to invest in building its AI capabilities. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. GP BULLHOUND'S WEEKLY REVIEW OF THE LATEST NEWS ON THE PUBLIC MARKET. You can unsubscribe from these emails at any time. envie um e-mail para Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. message, contactez-nous l'adresse They very slightly nudged the guidance to the higher end of the previous range (now 23-23.5% yr/yr growth); The CEO commentary was more of what we heard last quarter around customers consolidating spend around their platform products which speaks to the idea that theyre benefiting from consolidation of spend around them and some of the same bundling/suite effect that Microsoft is also benefiting from. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. We are sorry for the inconvenience. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. KLA and ASMI reporting in the semicap equipment space. Caso continue recebendo esta mensagem, Als u dit bericht blijft zien, stuur dan een e-mail Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail GP Bullhound New York, NY Office | Glassdoor UMC (Taiwanese foundry a little brother of TSMC at trailing edge nodes) also reported largely better results and guidance and is another good read-across for the pricing debate. an. On Activision Blizzard (owned) we continue to think that, with or without the deal, the company is well positioned in the gaming market. Please enable Cookies and reload the page. Wenn Intel needs to spend to try to compete we spoke last week about the level of catch up required in terms of ASML tools we think that will continue to be a driver of orders for all the semicap players this year. scusiamo se questo pu causarti degli inconvenienti. Infineon and NXP will both report next week, Memory market benefitting from content increases around AI, utilisation starting to have the desired effect. pour nous faire part du problme. On the call CEO Pat Gelsinger spoke to PC inventory correction largely being done (datacentre a little further behind) and a better second half really reflecting what weve heard elsewhere in the chip sector. The technical storage or access that is used exclusively for statistical purposes. Aydanos a proteger Glassdoor y demustranos que eres una persona real. Meta (not owned) reported a revenue beat (3% growth vs cons -1%) and guided for ~7% growth an impressive acceleration (and one we didnt expect) saying theyre seeing improvement in the ad market, and also benefiting from some of the AI capabilities theyve put in place to deliver more measurable ROI (offsetting ATT). las molestias. Not consenting or withdrawing consent, may adversely affect certain features and functions. Se continui a visualizzare Lamentamos The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. First name Last name Email Country City Portfolio view: In software, we try to own the broader platform plays which can benefit from consolidation of spend. More on that below and onto the detailed results: Microsoft the class act in AI on the offensive and gaining share. All key products grew yr/yr in a falling market; and King had a record quarter with mobile growing double digits in bookings. Gross margin is still in the doldrums 37.5% (where Intel used to be comfortably in the 60s that all speaks to lower utilisation, lower demand for its products and we think, share losses). to let us know you're having trouble. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail GP Bullhound Co-Founder and Managing Partner Jul 1999 Board and Advisor Roles Number of Current Board & Advisor Roles 1 Per Roman is the Board Member at Sesamy. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. para nos informar sobre o problema. CTV blends everything for marketers: Brand building, targeted customer acquisition and sales, all with clear feedback for better ROI, The ongoing energy crisis will galvanise consumer demand for home energy-saving systems, with market CAGR estimates as high as c19%, 2023 will see a significant push towards consolidation in the cyber-security space, driven by the trend towards end-to-end Zero Trust capability from vendors across every piece of the cyber security stack. GP Bullhound | LinkedIn Si vous continuez voir ce We do expect AI demand to be a meaningful driver of memory bit growth over time the DRAM and High bandwidth memory content in AI training and inference servers are multiples of traditional enterprise servers but were still at the early stages of that build out. We think this may well happen in certain consumer exposed products where we try to avoid exposure (STMicro is an Apple supplier, which is always tough from a pricing perspective); however, we do not believe we will see pricing pressure in auto and industrial, where components are still sold out and backlog is over a year. GP Bullhound Careers and Employment About the company Founded 1999 Company size 11 to 50 Revenue $5M to $25M (USD) Industry Financial Services Headquarters London GP Bullhound website Careers - GP Bullhound Not consenting or withdrawing consent, may adversely affect certain features and functions. Lamentamos pelo inconveniente. naar per informarci del problema. message, please email At GP Bullhound, ambition fills the rooms and halls of our global offices and anywhere you find a member of our team. GP BULLHOUND'S WEEKLY REVIEW OF THE LATEST NEWS ON THE PUBLIC MARKET. Platform . The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Stay Connected.Get the latest News & Insights. Today's top 9 Gp Bullhound jobs. Aydanos a proteger Glassdoor y demustranos que eres una persona real. Aydanos a proteger Glassdoor y demustranos que eres una persona real. 489 Fifth Avenue, 34th PH New York New York, NY, NY 10017 Get Directions GP Bullhound New York, NY Reviews 5.0 Current Employee "Good place to work" Apr. Stay Connected.Get the latest News & Insights. We are sorry for the inconvenience. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie In Q1, we continue to innovate across our products. Si continas recibiendo este mensaje, infrmanos del problema With our global team spread over. Onze verdade. All of Microsoft, Google, Amazon and Meta reported this week. One of the most used apps worldwide, with one billion users and growing c20% of internet users TikTok is changing the landscape for brands and creators, M&A will increase next year for connected TV (CTV) related services, data/analytics, and tech providers. ein Mensch und keine Maschine sind. It still represents a very rough end market but it is getting better, and we do think inventory has largely cleared. There are always lots of moving parts in this set of results, but the focus on the call was around its cloud business: AWS grew 16% yr/yr, slowing from 20% last quarter, and slowing still further in April (~11%). Please help us protect Glassdoor by verifying that you're a Ci gpbullhound.com: Contact Information, Journalists, and Overview | Muck Rack That is happening but its costing them in opex and margin. Aydanos a proteger Glassdoor verificando que eres una persona real. Tech Thoughts Newsletter 21 April 2023. Both spoke to the market at or near the bottom though we think both will continue to show losses in their memory business into next year. Stockholm School of Economics MSc Finance 1995 1998 Events Number of Events 1 Please enable Cookies and reload the page. Code postal (CP) 38590. Subscribe to our Tech Thoughts Newsletter for weekly updates on our latest news and insights. Nom des habitants de Saint-tienne-de-Saint-Geoirs (gentil) Stphanois, Stphanoises. Lamentamos Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie scusiamo se questo pu causarti degli inconvenienti. Martin Rezaie - GP Bullhound The issue for Meta as it relates to return on invested capital (which is always our focus) is that, even if theyre able to catch up with the old targeting success metrics, this is likely a structural increase in cost/capex (server costs), because in order to stay ahead in AI, there is a constant refresh cycle necessary thinking about returns, a 5pp structurally higher capex/sales ratio brings asset turns down and leaves you with a structurally lower returns (which should feed through to valuation). excuses voor het ongemak. The commentary was more of what weve heard auto and legacy nodes (China called out) seeing strength, while acknowledging memory and consumer exposed logic are reducing utilisation and capex. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de At the turn of the century, Robert Ci The core retail business was better again speaking to continued (surprising) strength in the consumer, particularly in the US. Onze Portfolio view: We continue to think that, alongside our chip exposure, Microsoft is our clearest winner in AI, both by being able to upsell and monetise AI across its half a billion Office users AND by being able to gain market share and workloads within Azure, which we have even more confidence in after this set of results. Saint-tienne-de-Saint-Geoirs, Isre (code postal 38 - Linternaute questo messaggio, invia un'email all'indirizzo For more . Ci per informarci del problema. Remember Satya Nadella spent a good deal of Ignite this year talking about how much money do more with less his customers could save by bundling their solutions. Our mission: To support the world's technology entrepreneurs | GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world's best entrepreneurs and founders. On the forward guidance numbers given we think Microsoft will add about double the dollar value in the next quarter ($600m vs ~$300m for Amazon). Agence SAMSE Saint Etienne de St Geoirs to let us know you're having trouble. Advertising (Search and Youtube) wasnt as bad as feared Google search landed back into positive growth territory, while YouTube is still declining (-3%, but less than the -8% we saw last quarter).Google search still proving more resilient than YouTube which reflects with what we expected in terms of less impact from ATT and new competition (and also allays some fears on the Bing threat..). We think a lot of this comes down to incremental market share gains as a result of OpenAI from the call: .even Azure OpenAI API customers are all new, and the workload conversations, whether its B2C conversations in financial services or drug discovery on another side, these are all new workloads that we really were not in the game in the past, whereas we now are, Companies using OpenAI are by extension using Azure that means that Microsoft is gaining incremental customers, Microsoft 365 is doing incredibly well and is an area we think is/will additionally benefit from the ability to upsell AI features and capabilities Office commercial and Office consumer are both accelerating from last quarter, helped by more users moving to higher ARPU E5 products. Nous sommes dsols pour la gne occasionne. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Join BULLHUB Outside of tech earnings, the main take is that the consumer still seems to be holding up well, particularly in the US, so still question marks around the shape and timing of any recession remain. Jan 20, 2023 - Investment Banking Analyst in New York, NY Recommend CEO Approval Business Outlook Pros Fun team, fresh take on IB culture (more relaxed), global travel perks, fantastic work-life-balance for a bank Cons
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