David Eborall
@davideborall
Portfolio Manager @ SaltLight Capital Management. Betting on Durable and Indispensable Businesses across the Globe. 🏋️♀️ Long-Term Investing Takes Courage !
Our 1Q25 letter is out from @saltlightfunds - AI thesis, agents, enterprise adoption. - E-commerce and our thesis on margin expansion revisited. - Blue Label Telecoms Link: tinyurl.com/3wxvycbc
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One of the clear ideas is, LBT doesn’t want to compete with NVIDIA in AI training market not only because NVIDIA is simply too big to compete with but because you won’t want to compete directly with your potential foundry customers.
This is probably the reason why $ASML has not upgraded 2030 guidance. 14A is important for high-na revenue.
Intel, the home of Moore's Law, for the first time in history, is evaluating if it will continue at the leading edge. From its 10-Q "However, if we are unable to secure a significant external customer and meet important customer milestones for Intel 14A, we face the prospect…
Nothing smells like "moat" more than your GPUs getting trafficked harder than a Narcos episode. $NVDA
Glad this is finally out after months of old-school journalism. There’s so much more to the story - and it needs to be told. Reminds me why I returned to the newsroom. Nvidia AI chips worth $1bn smuggled to China after Trump export controls Free link: on.ft.com/46V1hBy
WeBuyCars engineering team is the most impressive I’ve met across JSE companies. businesstech.co.za/news/motoring/…
How does a domestic insurer compete internationally with our cost of capital in the LLoyd's market?
SNT SNT BISAN Voluntary Announcement: Santam Receives In-Principle Approval To Launch A UK-Based Lloyd?s Syndi... bit.ly/3GVYNID
Is this a HKEX listing decision to appoint E&Y Hong Kong? $PDD
This perfectly captures the challenge with sell side research.
x.com/i/article/1947…
Reading Barbarians At The Gate for umpteenth time. Such a great book. Nothing has changed under the sun 40 yrs later. I really hope we don’t have any Ross Johnson’s running our portfolio companies.
Amazing that there are two Saffa’s there.
🚨 BREAKING: Detailed list of all 44 people in Meta's Superintelligence team. — 50% from China — 75% have PhDs, 70% Researchers — 40% from OpenAI, 20% DeepMind, 15% Scale — 20% L8+ level — 75% 1st gen immigrants Each of these people are likely getting paid $10-$100M/yr.
Reading through the AWS AgentCode docs. Must be some consternation at LangGraph HQ today. AWS has wrapped their platform on top of the LangGraph framework by taking the invocation to the AWS cloud. This was the LangGraph monetisation model which AWS has subsumed $AMZN
Our June 2025 SaltLight FR Worldwide Flexible fund Fact Sheet is out. …site-files.s3.eu-west-1.amazonaws.com/documents/SLTW…
I'm loving this approach...
At today’s @awscloud Summit NYC, we unveiled a new Bedrock capability called AgentCore – a set of powerful building blocks that will change how you can deploy agents into production in a secure, scalable, and flexible way. aboutamazon.com/news/aws/aws-s…