Core Insights - Nvidia has increased its backlog from $500 billion to $1 trillion for Blackwell and Reuben products through 2027, which has positively impacted its share price, increasing by approximately 4% [1][2] Group 1: Backlog and Financial Performance - The significant increase in backlog indicates strong demand for Nvidia's products, reflecting a robust growth outlook for the company [1] - The share price was initially stable but saw a rise following the announcement of the $1 trillion backlog [1] Group 2: Partnerships and Collaborations - Nvidia has announced partnerships with major companies including Dell, Palantir, Core, Oracle, IBM, and Google, although no new product details have been provided yet [2] - T-Mobile has joined Nokia in utilizing Nvidia GPUs for edge AI in its 6G buildout, expanding Nvidia's presence in the telecom sector [2] Group 3: Existing Relationships and Market Expectations - Intel's Zeon processors will be integrated into Nvidia's new Reuben rack systems, continuing an existing relationship rather than establishing a new one, which explains the lack of movement in Intel's shares [3][4] - The market was anticipating an update on the backlog order, which has now been fulfilled, and is still awaiting details on a new chip involving Grock technology [4]

Fourth Quarter 2025 Earnings Conference Call Copyright © 2025 Peraso Inc. This presentation is for information purposes only and no representation or warranty, express or implied, is made by Peraso Inc. ("Peraso," "we," "us," or "our") or any of its representatives as to the information contained in this presentation. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, we make no represe ...

Core Insights - Garmin, QuantumScape, and Synaptics are highlighted as three under-the-radar tech companies with significant growth potential and distinct market positions [1][2]. Garmin - Garmin achieved record FY2025 revenue of $7.245 billion, representing a 15% year-over-year increase, with all five business segments posting record results [1][2]. - The Fitness segment grew by 42% in Q4, and pro forma EPS for FY2025 was $8.56, exceeding estimates by 4.64% [2]. - The company has $4.10 billion in cash and marketable securities with zero debt, and it announced a 17% increase in its annual dividend to $4.20 per share, along with a new $500 million share repurchase program [2]. - FY2026 guidance anticipates revenue of $7.9 billion and pro forma EPS of $9.35 [2]. Synaptics - Synaptics reported Q2 FY2026 revenue of $302.5 million, up 13% year-over-year, marking five consecutive quarters of double-digit revenue growth [1][2]. - Core IoT product sales surged by 53% year-over-year, and non-GAAP EPS was $1.21, beating estimates of $1.17 [1]. - Operating cash flow increased by 163% year-over-year to $60 million in Q2, and the company repurchased $43.6 million of its own stock in the first half of FY2026 [1][2]. - Despite a recent stock pullback of 18.6% to $73.87, Synaptics continues to show strong fundamentals and direct exposure to the edge AI market [1]. QuantumScape - QuantumScape generated its first-ever customer billings of $19.5 million in FY2025 after opening its Eagle Line pilot production facility [1]. - The company expanded its PowerCo deal to 85 GWh of annual capacity and signed agreements with two additional major global automotive OEMs [1]. - Full-year 2025 net loss was $435 million, an improvement from $477.9 million in 2024, with total liquidity of $970.8 million and a cash runway extended through the end of the decade [1][2]. - CEO Siva Sivaram emphasized that the company is now in the commercialization phase, marking a significant inflection point in its journey [1].

Core Insights - Arm Holdings is positioned centrally within the smartphone industry, with a potential expansion into edge AI that could significantly enhance its long-term growth opportunities [1] - The company's licensing model may see increased revenue as new architectures lead to higher royalties per chip [1] - A key consideration for investors is whether the technology can support the company's current premium valuation [1] Company Overview - Arm Holdings is experiencing a shift towards edge AI, which could broaden its market potential [1] - The company’s revenue model is based on licensing, which may benefit from advancements in chip architecture [1] Market Dynamics - The smartphone industry is evolving, and Arm's role is critical as it adapts to new technological trends [1] - The increase in royalties per chip due to new architectures could lead to compounded revenue growth for Arm [1]

Core Insights - The article discusses the upcoming Physical AI Meetup focused on multi-modal and edge computing advancements in AI, emphasizing the extension of AI capabilities into the physical world [2][3]. Event Overview - The event will take place on March 19 in Sunnyvale, Silicon Valley, featuring discussions on Conversational AI, Visual Agents, and Edge AI [2][9]. - It includes a morning session with keynote speeches and a roundtable discussion, followed by an afternoon workshop on voice AI using the TEN + Agora R1 suite [4][10]. Morning Session Details - The morning session will run from 9:30 AM to 12:30 PM, featuring a roundtable discussion on opportunities in multi-modal AI hardware [10]. - Key speakers include Morgan Suo from MiniMax, Diana Zhu from RiseLink, and Feng Xiaodong from Agora, among others [10][11]. Afternoon Workshop Details - The afternoon workshop will focus on hands-on experience with the Agora R1 voice AI hardware suite, running from 1:30 PM to 4:30 PM [17]. - Participants will have the opportunity to work in teams, with 40 R1 devices available for practical use, and successful teams can take their devices home [17][21]. Technical Highlights - The TEN Framework is designed for building conversational voice AI, supporting low-latency and multi-modal voice interactions [17][21]. - The workshop will provide comprehensive development materials and support for participants to create custom voice agents [22].

Core Viewpoint - Lantronix Inc. is participating in the 38th Annual ROTH Conference, which will include a fireside chat and one-on-one meetings with institutional investors, highlighting its focus on engaging with the investment community [1][2]. Company Overview - Lantronix Inc. is a global leader in Edge AI and Industrial IoT solutions, providing intelligent computing, secure connectivity, and remote management for mission-critical applications [3]. - The company serves high-growth markets such as smart cities, enterprise IT, and unmanned systems, including drones, enabling customers to optimize operations and accelerate digital transformation [3]. - Lantronix's portfolio includes hardware, software, and services that support applications like secure video surveillance and resilient out-of-band network management, helping organizations achieve efficiency and security in an AI-driven environment [3]. Conference Details - The 38th Annual ROTH Conference will take place from March 22 to 24, 2026, at The Ritz-Carlton, Laguna Niguel, California [2]. - A fireside chat featuring ROTH analyst Scott Searle is scheduled for March 24, 2026, from 12:00 p.m. to 12:25 p.m. Pacific Daylight Savings Time [2]. - Interested parties can request one-on-one meetings with Lantronix by contacting ROTH representatives [2].

Core Viewpoint - Ambarella is experiencing growth driven by a transition to an edge AI-focused product portfolio, despite recent stock volatility attributed to external uncertainties and conservative guidance for fiscal 2027 [4][7][8]. Financial Performance - Ambarella reported a revenue growth of 37% last year and 26% the year before, with expectations of 10% to 15% growth in fiscal 2027, primarily due to strong new product cycles [2][3]. - The company's recent earnings report showed revenue in line with expectations and EPS approximately $0.02 to $0.03 better than anticipated, leading to a 3% increase in consensus revenue estimates for fiscal 2027 [3]. Product and Market Strategy - The company has shifted to an edge AI focus, with around 80% of revenue now derived from this segment, which grew about 50% last year [6][11]. - Ambarella is expanding its product offerings beyond endpoint devices into edge infrastructure, targeting robotics, automotive, and infrastructure as significant long-term opportunities [6][13]. - To enhance growth, Ambarella is developing an indirect sales channel for smaller customers and pursuing a semi-custom chip strategy, including a 2nm IoT endpoint design expected to generate revenue in H1 FY2028 [5][17]. Guidance and Market Perception - Ambarella reaffirmed its fiscal 2027 revenue growth guidance of 10% to 15%, attributing recent stock weakness to fear, uncertainty, and doubt (FUD) related to an ITC decision that was deemed to have no impact on customers [7][8]. - The company maintains a conservative approach to guidance, citing past experiences where actual growth exceeded initial forecasts due to improved customer order visibility [8][9]. Research and Development - Ambarella has invested approximately $1.3 billion in edge AI R&D over the past decade, with cumulative edge AI revenue reaching about $1 billion [14]. - The company is focusing on transformer-capable chips to support advanced AI applications, with model capacities ranging from tens of thousands to 34 billion parameters [15]. Profitability Outlook - Long-term gross margin targets are set between 59% and 62%, with current results near the lower end of this range, as the company has opted for slightly lower margins to drive higher revenue and operating leverage [19].

Ambarella Conference Call Summary Company Overview - **Company**: Ambarella (NasdaqGS: AMBA) - **Industry**: Semiconductor, specifically focusing on Edge AI and video processing technologies Key Financial Highlights - **Recent Earnings**: Reported a solid quarter with revenue and EPS beating estimates by $0.02 to $0.03 [3][4] - **Fiscal Year 2027 Guidance**: Revenue growth expected to be 10%-15% year-over-year, following a growth of 37% last year and 26% the year before [4][11] - **Market Reaction**: Stock price decline attributed to fear, uncertainty, and doubt (FUD) from an ITC ruling, which ultimately had no impact on the company [4][8] Product and Market Insights - **Edge AI Revenue**: 80% of revenue now comes from Edge AI, which grew 50% last year [13][19] - **Revenue Breakdown**: - **IoT**: 78% of total revenue, with significant contributions from security and portable video [16][17] - **Automotive**: 22% of total revenue, primarily from telematics and safety applications [16][17] - **New Product Cycles**: Strong new product cycles anticipated, with a focus on AI accelerators integrated into single-chip AI SoCs [12][13] Strategic Initiatives - **Go-to-Market Strategies**: Introduction of indirect sales channels to support smaller customers and a semi-custom chip strategy to cater to specific customer needs [20][22] - **R&D Investment**: Cumulative investment of $1.3 billion in Edge AI R&D, with a focus on enhancing product offerings and market reach [19][28] Market Opportunities - **Emerging Markets**: Robotics, automotive autonomy, and edge infrastructure identified as key growth areas [18][39] - **Security Market**: Transition from traditional physical security to operational tools for businesses, driving growth in the installed base [39] Financial Model and Outlook - **ASP Growth**: Anticipated increase in average selling prices (ASP) as customers demand more AI capabilities, with long-term gross margin guidance of 59%-62% [44][46] - **Revenue Projections**: Conservative guidance due to uncertainties in customer adoption of new products, but confidence in long-term growth remains strong [11][44] Conclusion - Ambarella is positioned for growth in the semiconductor industry, particularly in Edge AI, with a strong focus on new product development and strategic market initiatives. The company is navigating current market challenges while maintaining a conservative yet optimistic outlook for future revenue growth and profitability.

Summary of Lam Research Conference Call Company Overview - **Company**: Lam Research (NasdaqGS:LRCX) - **Industry**: Semiconductor Equipment Key Points 1. Customer Support Business Group (CSBG) - CSBG accounts for approximately one-third of total revenues, supported by an installed base of over 102,000 units, up from 96,000 the previous year [8][9] - CSBG includes spare parts, service, upgrades, and older products, generating more revenue post-sale than at the time of sale [10] - The business has grown at a 13% CAGR over the last five years, with expectations for continued innovation and growth [13] 2. Industry Outlook - The semiconductor equipment market is projected to reach $135 billion in 2026, up from $110 billion in 2025, driven primarily by AI compute demand [19] - The growth is constrained by the availability of clean room space, which limits the pace of investment [20] - High utilization rates in the industry are expected to benefit spares and service consumption [16] 3. Foundry Logic and Advanced Packaging - Foundry logic represented nearly 60% of Lam's systems business in 2025, with a focus on expanding market share beyond memory customers [30] - Gate-All-Around and advanced packaging are expected to significantly increase the Serviceable Available Market (SAM) by $1 billion for every 100,000 wafer starts [34] - Advanced packaging is projected to grow by 40% this year, with strong demand for Through-Silicon Via (TSV) processes [37] 4. DRAM and NAND Markets - DRAM is identified as a top growth driver for WFE, with significant demand for high-bandwidth memory (HBM) and upgrades to existing capacity [39] - The NAND market is experiencing strong demand, with a projected $40 billion investment focused on upgrades to meet bit growth requirements [58] 5. Financial Performance and Capital Returns - Lam Research has consistently returned 85% of free cash flow to shareholders, with a commitment to growing dividends annually [76] - The company has achieved gross margins above 50% in recent quarters, with expectations to maintain this level [65] 6. Supply Chain Management - Lam is actively managing its supply chain to prepare for increased demand, ensuring it is not a constraining factor in the industry [24] 7. Innovation and R&D - The company has increased R&D investments to adapt to industry changes, particularly in advanced packaging and Gate-All-Around technologies [30] - Lam's strategy includes closer proximity to customers for faster solutions and better understanding of their challenges [71] 8. Market Dynamics - The semiconductor industry is expected to grow significantly, with estimates of $1 trillion in revenue by 2030, potentially reaching $1.6 trillion [75] - Execution and readiness for growth are critical for Lam to capitalize on this market potential [75] 9. Competitive Positioning - Lam's competitive edge lies in its ability to innovate and adapt to changing market demands, particularly in AI and advanced packaging technologies [34][37] 10. Customer Engagement - The company emphasizes the importance of customer relationships and feedback in driving product development and market strategies [71] Conclusion Lam Research is positioned for strong growth in the semiconductor equipment industry, driven by its Customer Support Business Group, advancements in technology, and a robust outlook for the foundry logic and DRAM markets. The company remains focused on innovation, supply chain management, and maintaining strong financial returns to shareholders.

March 11, 2026 Cantor Global Technology & Industrial Growth Conference New York Hilton Midtown John Young, CFO Louis Gerhardy, VP Corporate Development AMBARELLA.COM COPYRIGHT AMBARELLA 2026 AMBARELLA.COM COPYRIGHT AMBARELLA 2026 Forward-Looking Statements This presentation contains forward-looking statements that are subject to many risks and uncertainties. All statements made in this presentation other than statements of historical facts are forward-looking statements, including, without limitation, state ...