Company Overview - Rigetti Computing has experienced significant stock appreciation, with a hypothetical investment of $10,000 growing to $162,000 in one year, indicating strong market performance [1] - The company's current market capitalization is approximately $5.4 billion, suggesting potential for substantial returns without needing to reach the size of the largest tech companies [2] Industry Potential - Rigetti operates in the rapidly growing field of quantum computing, which has vast potential applications across various sectors, including artificial intelligence, cryptography, and drug discovery [3] - The quantum computing market is projected to reach between $90 billion to $198 billion by 2040, highlighting the significant growth prospects for companies in this space [6] Technological Advancements - Rigetti has made notable advancements in quantum computing technology, including a recent breakthrough that halved the 2-qubit gate error rate for its 36-qubit quantum computer, which is crucial for improving computational accuracy [4] - The company utilizes a superconducting approach that may allow for a higher number of qubits compared to competitors, and it possesses the only multichip quantum computer in the industry, reinforcing its competitive edge [7] Competitive Landscape - Rigetti faces competition from major tech companies such as Google, Amazon, IBM, and Microsoft, all of which are investing heavily in quantum computing technologies [10] Investment Considerations - For Rigetti to be a life-changing investment, significant capital must be invested, quantum computing must fulfill its growth potential, and Rigetti must maintain its position as a leading player in the industry [5][6][7] - While there is potential for substantial returns, the likelihood of Rigetti being a definitive life-changing investment is uncertain, as it may not generate enough wealth for most investors to retire comfortably [11][12]

Group 1 - The article focuses on value investing opportunities in Asia, particularly in Hong Kong, targeting stocks with significant discrepancies between market price and intrinsic value [1] - The investment strategy emphasizes deep value balance sheet bargains, such as net cash stocks and low price-to-book (P/B) stocks, as well as wide moat stocks that represent high-quality businesses [1] - The author provides a range of watch lists with monthly updates to assist investors in identifying potential investment opportunities [1]

Investment Rating - The report assigns a "Buy" rating to several companies including Accenture, IBM, Fujitsu, NEC, and EPAM, while Cognizant and Globant are rated as "Neutral" [28][19][12]. Core Insights - The global IT services industry is facing macroeconomic headwinds that are likely to persist, delaying a broader recovery in discretionary spending until 2026 [1]. - In India, the IT services sector is expected to experience low-single digit revenue growth for FY26, with limited visibility on discretionary demand [2]. - Japan's IT services market remains strong, driven by modernization needs and a tight supply of system engineers, allowing for price increases [3]. - In the US, ongoing uncertainty in IT budgets is causing clients to delay discretionary spending, particularly in sectors like Healthcare and Manufacturing [4]. Summary by Region India - After two rounds of cuts, revenue growth estimates for FY26 have been modestly raised, but growth is expected to remain below FY25 levels [2]. - The sector is projected to see a -0.4% quarter-over-quarter revenue growth for 1QFY26, with a YoY growth of +0.9% [9]. - Companies like Infosys and HCL are expected to raise their revenue growth guidance slightly [9]. Japan - The demand for IT services in Japan is robust, driven by the need to replace legacy systems and improve productivity [3][12]. - Major players like Fujitsu and NEC are well-positioned to benefit from this demand, with forecasts indicating significant profit growth [13][14]. - The financial and public sectors are consistently investing in digital transformation, which is expected to continue [16]. United States - US IT services providers are experiencing muted performance due to uncertainty in IT budgets, with some sectors showing resilience [4][17]. - Companies are reporting stable demand in Financial Services, but there are headwinds in Healthcare and Manufacturing [19]. - Management teams are indicating some signs of demand stabilization, particularly in select verticals [17][20].

Fujitsu shares dropped the most since April in Tokyo after the chair of a UK public inquiry called for the firm to release a compensation plan for victims of the Post Office scandal by the end of October https://t.co/HdtSMyH5Bx ...

Core Insights - Oracle has launched Oracle Compute Cloud@Customer Isolated, a secure cloud service designed for governments and regulated industries to manage classified workloads and ensure mission success [1][2] - The service allows organizations to maintain data sovereignty and security while leveraging cloud and AI technologies, providing flexibility for deployment in various locations [2][3] - Oracle Compute Cloud@Customer Isolated can be deployed quickly, with options for a Fast-Start path that enables on-premises setup within six to eight weeks [3][4] Group 1 - Oracle Compute Cloud@Customer Isolated is tailored for defense, intelligence, telecommunications, and healthcare sectors, focusing on minimizing attack risks and adhering to strict regulations [1][2] - The service offers comprehensive compute, storage, and networking capabilities similar to Oracle Compute Cloud@Customer, facilitating AI innovation and operational efficiency [2][3] - The deployment can be scaled from a single rack to a hyperscale, air-gapped Oracle Cloud Isolated Region, ensuring comprehensive control and data sovereignty [3] Group 2 - Fujitsu Defence and National Security emphasizes the importance of Oracle Compute Cloud@Customer Isolated in providing secure, isolated environments that support mission-critical operations [4] - The global availability of Oracle Compute Cloud@Customer Isolated is expected later this year, expanding its reach to various sectors [4]

Financial Data and Key Metrics Changes - The company reported Q1 revenue of $9,830,000,000, an increase of 8% year over year [20] - Subscription and support revenue grew by 9% in constant currency [21] - Non-GAAP operating margin for the quarter was 32.3% [22] - Remaining performance obligation (RPO) reached $60,900,000,000, up 13% year over year [22] - Current remaining performance obligation (CRPO) grew by 12% year over year in nominal terms [56] - Operating cash flow was $6,500,000,000, a 4% increase year over year [56] - The company raised its fiscal year 2026 revenue guidance by $400,000,000 to a range of $41,000,000,000 to $41,300,000,000 [57] Business Line Data and Key Metrics Changes - Strong growth was observed in the small and medium market business, achieving double-digit new bookings growth [21] - Data Cloud surpassed 22,000,000,000,000 records, up 175% year over year [28] - AgentForce reached over $100,000,000 in annual operating value (AOV) [27] - Data Cloud and ARR grew more than 120% year over year, contributing over $1,000,000,000 to the business [30] Market Data and Key Metrics Changes - The company saw strong new business growth in the UK, France, Canada, and Asia Pacific, particularly South Asia [55] - Comms and Media and Health and Life Sciences industries performed well, while Retail and Consumer Goods and Public Sector showed more measured performance [55] Company Strategy and Development Direction - The acquisition of Informatica for $8,000,000,000 is seen as a transformational step to enhance the company's AI and data capabilities [7][10] - The company aims to achieve accretion on non-GAAP operating margin, non-GAAP EPS, and free cash flow by year two post-acquisition [17] - The focus is on operational excellence and a disciplined approach to mergers and acquisitions [16] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the growth opportunities in AI and enterprise software, emphasizing the importance of data transformation for AI success [11][24] - The company is committed to maintaining margin and cash flow frameworks while pursuing growth [64] - Management highlighted the strong momentum in data and AI, with expectations for continued contributions from AgentForce [90] Other Important Information - The company introduced a new consumption-based pricing model called Flex credits [25] - The company plans to add FedRAMP high authorization for AgentForce to cater to the U.S. public sector [26] - The company has seen significant customer success stories, including partnerships with major companies like PepsiCo and Falabella [39][42] Q&A Session Summary Question: When will AgentForce and Data Cloud become bigger drivers for overall growth rates? - Management acknowledged the importance of growth and emphasized a balanced execution approach while focusing on distribution and investment in sales capacity [64][66] Question: Have macro uncertainties affected customer behavior? - Management noted a balanced portfolio and strong momentum in data and AI, which provides confidence in guidance despite headwinds [90] Question: How will the combined portfolio of Tableau, MuleSoft, and Informatica change the game? - Management highlighted the integration of Tableau into the core Salesforce functionality and its role in enhancing the agentic layer and data strategy [95][100]

Core Insights - The CEO of Nvidia, Jensen Huang, envisions AI becoming an essential part of daily life, akin to the internet and electricity, emphasizing the need for ubiquitous AI infrastructure in the future [3][4] - Nvidia is positioning itself not just as a tech company but as a crucial infrastructure provider for AI, with the AI chip market valued at $300 billion and data center opportunities approaching a trillion dollars [3][4] Group 1: AI Infrastructure and Future Vision - Huang expressed that AI will be integrated into every sector and region, highlighting the necessity of AI in factories and companies [3] - The value of the chip industry is currently at $300 billion, with data center opportunities projected to grow into a nearly $1 trillion market driven by AI [3][4] Group 2: DeepSeek and Technological Advancements - Huang praised DeepSeek-R1 for its groundbreaking performance, stating it has quadrupled computational capabilities compared to leading competitors [4] - Nvidia is collaborating with Google’s DeepMind and Disney Research to develop an advanced physics engine called Newton, which will be open-sourced in July [4] Group 3: New Product Launches - Nvidia introduced several new AI hardware and software products, including the upcoming GB300 system and desktop DGX Spark AI workstations [6] - The GB Superchip has entered full production, with deliveries starting in February, and the GB300 hardware system is set to launch in Q3 of this year [6][9] Group 4: NVLink Fusion Technology - NVLink Fusion, a new interconnect technology, will now be available to other chip manufacturers, enhancing flexibility for data center operators [7][8] - This technology allows customers to customize their AI infrastructure while keeping Nvidia at the center of their operations [8] Group 5: Automotive Industry Focus - Nvidia is advancing its efforts in the automotive sector, utilizing the Isaac Groot platform for robotic systems, which is powered by the Jetson Thor processor [10] - The company is applying its AI models to autonomous vehicles, partnering with Mercedes to deploy a fleet using Nvidia's end-to-end autonomous driving technology this year [10]

Core Insights - Nvidia CEO Jensen Huang announced new products and initiatives aimed at positioning the company at the forefront of artificial intelligence development and computing [1] Group 1: NVLink Fusion Program - The new "NVLink Fusion" program allows customers and partners to integrate non-Nvidia CPUs and GPUs with Nvidia's products, expanding the usability of NVLink technology [2] - NVLink Fusion enables the creation of semi-custom AI infrastructures by combining Nvidia processors with various CPUs and ASICs, enhancing the NVLink ecosystem [3] - AI chipmaking partners for NVLink Fusion include MediaTek, Marvell, Alchip, Astera Labs, Synopsys, and Cadence, with customers like Fujitsu and Qualcomm able to connect third-party CPUs to Nvidia's GPUs [3] Group 2: Market Strategy - The introduction of NVLink reflects Nvidia's strategy to capture market share in data centers that utilize ASICs, which have been traditional competitors [4]

Core Insights - NVIDIA has launched the Global Research and Development Center for Business by Quantum-AI Technology (G-QuAT), featuring the ABCI-Q supercomputer, which is the largest research supercomputer dedicated to quantum computing globally [1][14] - The ABCI-Q supercomputer integrates 2,020 NVIDIA H100 GPUs connected via the NVIDIA Quantum-2 InfiniBand networking platform, facilitating unprecedented quantum-GPU computing capabilities [3][2] - The collaboration between NVIDIA and Japan's National Institute of Advanced Industrial Science and Technology (AIST) aims to advance quantum error correction and application development, essential for building practical quantum supercomputers [4][5] Industry Impact - Quantum processors are expected to enhance AI supercomputers in addressing complex challenges across various sectors, including healthcare, energy, and finance [2] - The integration of quantum hardware with AI supercomputing is anticipated to accelerate the realization of quantum computing's potential [4] - ABCI-Q will enable researchers to tackle core challenges in quantum computing technologies, expediting the development of practical use cases [5]

Core Insights - NVIDIA has introduced NVLink Fusion, a new silicon technology that enables industries to create semi-custom AI infrastructure, leveraging a vast ecosystem of partners [1][12] - The technology allows for the integration of NVIDIA GPUs with CPUs from companies like Fujitsu and Qualcomm, facilitating the development of high-performance AI factories [2][6] Industry Impact - A significant transformation is occurring in data centers, necessitating a fundamental rearchitecture to incorporate AI into every computing platform [3] - NVLink Fusion provides cloud providers with a scalable solution to expand AI capabilities, supporting up to millions of GPUs and delivering throughput of up to 800 Gb/s [3][4] Partner Collaborations - Key partners adopting NVLink Fusion include MediaTek, Marvell, Alchip Technologies, Astera Labs, Synopsys, and Cadence, all of which are working to create custom AI silicon [2][4][13] - MediaTek and Marvell emphasize their collaboration with NVIDIA to redefine AI factory integration and deliver scalable technologies for cloud-scale AI [5] Technological Advancements - The fifth-generation NVIDIA NVLink platform offers compute-dense racks with a total bandwidth of 1.8 TB/s per GPU, significantly outperforming PCIe Gen5 by 14 times [7] - NVIDIA Mission Control software enhances AI factory operations by automating the management of AI data centers and workloads, streamlining deployment and validation processes [9] Availability and Future Prospects - NVLink Fusion silicon design services and solutions are currently available from several partners, indicating a strong market readiness for this technology [14]