Category Archive for "Research"

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Hyperscale Hardware: Components for the AI Cloud

Hyperscale Hardware: Components for the AI Cloud As the TMT world moves resolutely into the AI/cloud era, investment in hyperscale data centers is surging, while spending on private enterprise data centers has begun an inevitable decline. Hyperscale architecture differs from

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Axiall – Don’t Listen For The Fat Lady Quite Yet!

  Lotte may consider themselves the “White Knight” for Axiall, but unless they are riding a very big horse and have very large amounts of money in the saddle bags, this story may be far from over. A stock bid

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A Deep Learning Primer – The Reality May Exceed the Hype

A Deep Learning Primer – The Reality May Exceed the Hype Deep learning based AI will drive the next phase of disruption for TMT. Leveraging hyperscale data centers and ubiquitous mobile devices, AI systems that allow computers to interpret ambiguous

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AXLL – Expect a Sale Eventually – Stock Could Drop if WLK Suspends Interest

Since the publication of the most recent AXLL defense document 10 days ago, there has been (public) radio silence from WLK regarding the rejected WLK bids. Axiall seem confident that they can win a proxy fight, or at least keep

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Axiall Strikes Back, but Painting a Very Bleak Picture for Polyethylene vs PVC

On May 9th Axiall issued a presentation defending its position with regard to the hostile takeover move from Westlake and in anticipation of a potential proxy battle. It is a well-constructed presentation and obviously self-serving, but on the whole an

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Quick Thoughts: Facebook F8 – Bots Offer Path to M-Commerce

CEO Mark Zuckerberg hit the stage for the keynote at FB’s annual F8 developers conference. The biggest reveal was a program to enable businesses to use AI-based “bots” to execute customer service communications across FB’s messaging platforms, a first step

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Axiall – Something Else Up Its Sleeve?

Axiall’s apparent reluctance to engage with Westlake in a formal discussion with respect to Westlake’s offer (resulting in a higher bid from Westlake this morning) suggests one of two possible positions: Axiall believes that it can win a proxy battle

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SHW/VAL – An Expensive Deal Not Without Its Hurdles

The announced acquisition of Valspar by Sherwin Williams, while consistent with our broad view on consolidation does not really tick any of the boxes we identified. This is not a segment facing massive offshore competition, nor is it oversupplied. Both

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Sasol Delays Ethylene Plant – Axiall, Westlake and Eastman Should be Paying Attention

  Last week Sasol announced a “delay” to some of its US Gulf investments and suggested that its ethylene unit would now start-up in 2019 rather than 2018. The company gave cash flow management as a reason, but this is

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Axiall – Asymmetric Risk Reward

  Axiall is either acting on very poor advice or has something up its sleeve. The company’s total and aggressive rejection of the bid from Westlake has opened a wide door for Westlake to walk through with a hostile bid,

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