Member Info for Sangijuelas1

What is your source for the Aiven revenues?

Sage as you never listen to anything anyone ever says to you it is such a waste of time responding to your inanities based solely on the likes of reporting from those pillars of research the Times and the Telegraph.

By the way I was struck yesterday by your repeated references to our shares and we as investors when you have clearly stated that you are no longer invested in this stock.

As for Graphcore, Baillie Gifford gave it a 25% haircut. Not exactly a big deal or a surprise in the current environment.

No doubt it was Microsoft that ditched Graphcore but there are major issues getting set up to use GPUs on Azure, which is very off-putting for smaller businesses wanting to deploy them.

There is also the ongoing question for European companies (and governments) becoming over reliant on US tech like the major cloud platforms. So talk is of developing sovereign capabilities and Graphcore is very much involved in the effort to enable European cloud platforms such as Gcore and also Paperspace. It could possibly be the case that Microsoft didn't want Graphcore being involved in these competing efforts. It's not like they haven't been accused in the past of anti-competitive practices.

In addition, Graphcore is a British and European company navigating the US embargoes on China. Britain has a complex relationship with China and still seems to be dealing with them as and when they can as opposed to the more hostile US approach. So Graphcore has recently started offering some modified older hardware to Chinese companies that could serve as an alternative to some of the blocked technologies.

Graphcore is obviously blown out of the water by Nvidia in terms of being the dominant player in the GPU market. That doesn't mean there aren't important niche areas where Graphcore can compete. For some complex tasks like Graph Neural Networks Graphcore have performed better and there are also energy saving benefits from running their IPUs - pretty important given the massive use of energy required to run foundation models for the likes of Chat GPT.

The buzz around Chat GPT has sent Nvidia stock back up close to it's 2021 all time high. A market cap of over $650bn. The pie is a big one and Graphcore requires a fairly small slice to justify its current valuation.

Graphcore tech is also potentially strategically important for both Europe and the UK. Hunt announced last week funding of £900m to build a UK supercomputer. Graphcore has been mentioned as a tech that could be involved in this, in addition to their collaborations with Gcore and Aleph Alpha in the EU.

It's easy to be sceptical and rubbish what companies are doing. I have spent enough time looking into Graphcore and I have swung back towards the a more positive view although I have concerns about the leadership at the company.

It's really simple.

The majority of fund managers are steering well clear of anything to do with unlisted assets following Woodford problems.

And the companies that invest in our portfolio companies tend not to invest in listed companies.

They will be keeping their cash in reserve looking for opportunities for future funding rounds at a discount.

Also with the tomatoes shortage the fact that UK supermarkets that had forward bought tomatoes then sold them into the EU whose supermarkets were seen to be more willing to pay the higher market prices than their expectations for UK consumers, many of whom are stressed financially with higher energy prices and the shock to mortgage rates.

Inflation on food prices was driven by shortages of tomatoes and the like with people having to substitute other products making them more expensive.

Also higher prices for tomatoes means prepared products containing them go up as well.

The inflation figures are not being caused by too much money.

So they can keep raising rates rate than dealing with the problems causing the inflation.

No one expects the bonds to default. They are fully expected to mature and payout so it's just funding to address the liquidity issue.

It's not like buying cdos based on delinquent mortgage debt

Of how dead the FTSE is in terms of capital

In half an hour UI Path trading less than average has doubled the monetary volume of Ocado, which started trading 6 hours ago

Interview with CEO Bobby Healy with Forbes. Stated cash until end 24 and expect to be generating substantial revenue by then.

https://mobile.twitter.com/johnkoetsier/status/1637880524600655872

Reporting strong growth

https://www.m-files.com/resources/en/tt-awards-pr-fc-en/m-files-achieves-record-growth-and-market-momentum-in-2022?utm_content=242168456&utm_medium=social&utm_source=twitter&hss_channel=tw-143895900

This recent article suggests Insurtech start ups are seeing renewed interest in the recessionary climate.

https://sifted.eu/articles/european-insurtech-2023/

Iceye are also highly involved in the insurtech market.

Had thought this insurtech one was a bit of a loser. But was unsure.

They last raised 18 months ago. Just announced expanding to France with no additional capital so may be going better than I expected.

https://techcrunch.com/2023/01/25/getsafe-expands-to-france-starting-with-home-insurance/amp/

So vague as ever Sage. All the portfolio companies will have headwinds.

Tailwinds- sectors where MV holds companies that have positive prospects due to regulatory and industry pressures - problem solving

Defence - Iceye, Satellite Vu, Isar Aerospace - satellite capabilities and rockets for sovereign defence capabilities likely to be supported by governments

Climate reporting and net zero targeting driven by regulatory and commercial pressures- Altruistiq, BeZero, Cervest

Data management efficiency and processing by AI- Aiven, Mostly AI, Causalens, Crate DB, Automation Hero, M-files

Supercomputing and quantum - companies with potential strategic importance again including indirect defence capabilities - Graphcore, Riverlane, Hadean, Paragraf

Fraud prevention and online security, market making a fund management - Ravelin, Vaultree, Indykite, PrimaryBid, Ravenpack, Ledger (in addition to device sales), Crowdcube

Upgrading and replacing core banking systems - Thought Machine, Form3, Fintech OS

Promising medtech - Endomag, Evonetix, Aktiia

Logistics /delivery/ automotive - Schuttflix, Manna, Focal Point Positioning, Hive MQ, Material Exchange

Cash flow and spend management - Apoerio, Friday Finance, Revolut

Other positives, Gardin, Lime Microsystems, IESO, allplants

Likely headwinds for One Football, Coachhub, Perkbox, N26

Definite issues for Freetrade, Lyst, Clue, Fraugster

$6bn Maxar not £

Blanket Purchase Agreement with NASA as part of their Commercial Smallsat Data Acquisition Program.

https://www.nasa.gov/press-release/goddard/2023/nasa-awards-agreement-for-synthetic-aperture-radar-commercial-data

Multiple awards of up to max $7m each. The program is designed to give industry more certainty.

Airbus had a 1 year evaluation contract last March so not sure if this 5 year agreement is superceding that or if NASA still working with them.

One of the other satellite data providers to the program, Maxar were brought last year for £6bn, which was double their SP at the time.

https://mobile.twitter.com/RealSexyCyborg/status/1636382734120792069

Always forget the link

Nice Manna marketing video on this Twitter post from a Chinese tech influencer

Had a good contract win last month
https://www.businesswire.com/news/home/20230217005240/en/The-Norwegian-Public-Roads-Administration-Steers-Toward-a-Smarter-Digital-Future-Paves-the-Way-with-Metadata-Driven-Document-Management-from-M-Files

Nice, wasn't expecting them to go to the US for a good couple of years.

They will need to get the licence, which could take some time.

Otherwise looks good.

A £30k buy by NED Gervaise Slowey carries a lot more weight for me than another Martin Davis one.

She's on £41k. One of her appointments is NED at Wells Fargo Internationa, which covers EMEA

I guess having dozens of start ups screaming for gov help to make payroll at the weekend didn't exactly help the cause

From what I could see MV kept a dignified silence and were not co signatories on a letter from other VC firms like Triple Point