Elsewhere, cost cutting continues to be a feature of most of the results were seeing and tech overall is well placed to exercise cost control (typically high gross margins gives it a lot of flexibility in the cost structure) thats one of the ways we think tech can drive earnings growth materially higher than the market this year and one of the things which keeps us optimistic overall. At work or out, if we set our minds to it, you can bet were going to make it happen. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. . The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Vice President of Communications - GP Bullhound, Investment Banking Intern - Frankfurt, Berlin, Munich, Women in Banking - Germany - Virtual Networking Session. Founded in 1999 in London and Menlo Park, the firm today has 13 offices spanning Europe, the US and Asia. Portfolio view: We continue to like our semicap equipment exposure and the resilience the companies are showing in margins and free cash flow. In Q1, we continue to innovate across our products. Alphabet (owned) reported a slight beat on revenue and EPS. Please enable Cookies and reload the page. Saint-tienne-de-Saint-Geoirs est une commune franaise situe dans le dpartement de l' Isre en rgion Auvergne-Rhne-Alpes . Sign in to create your job alert for Gp Bullhound jobs in Worldwide. enviando un correo electrnico a For more information, please visit www.gpbullhound.com. Tech Thoughts Newsletter 21 April 2023. Subscribe to our Tech Thoughts Newsletter for weekly updates on our latest news and insights. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. The core retail business was better again speaking to continued (surprising) strength in the consumer, particularly in the US. Cloud update after Microsoft, Google & Amazon results & Activision deal fallout. Toggle navigation. We are sorry for the inconvenience. an. GP Bullhound Co-Founder and Managing Partner Jul 1999 Board and Advisor Roles Number of Current Board & Advisor Roles 1 Per Roman is the Board Member at Sesamy. At GP Bullhound, ambition fills the rooms and halls of our global offices and anywhere you find a member of our team. questo messaggio, invia un'email all'indirizzo Code postal (CP) 38590. Coordonnes GPS : 45.353010, 5.3351500. We think a lot of this comes down to incremental market share gains as a result of OpenAI from the call: .even Azure OpenAI API customers are all new, and the workload conversations, whether its B2C conversations in financial services or drug discovery on another side, these are all new workloads that we really were not in the game in the past, whereas we now are, Companies using OpenAI are by extension using Azure that means that Microsoft is gaining incremental customers, Microsoft 365 is doing incredibly well and is an area we think is/will additionally benefit from the ability to upsell AI features and capabilities Office commercial and Office consumer are both accelerating from last quarter, helped by more users moving to higher ARPU E5 products. If you continue to see this We expect market consolidation and the creation of powerful integrated platforms in 2023, We predict increased funding in technologies that employ environmentally-friendly practices to improve sustainability, as well as companies with resource-efficient supply chain processes, We expect increased M&A in a well-funded industry, separating successfully scaling robotic companies from innovator-only players, Social media companies are pivoting from digital advertising to social commerce, which will reach a global market value of $3.8tn in 2030. Founded in 1999 in London and Menlo. Code Insee. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Wir entschuldigen uns fr die Umstnde. First name Last name Email Country City Caso continue recebendo esta mensagem, om ons te informeren over dit probleem. More on that below and onto the detailed results: Microsoft the class act in AI on the offensive and gaining share. Bitte helfen Sie uns, Glassdoor zu schtzen, indem Sie besttigen, dass Sie Ci When we look at the relative performance of the cloud names, we think its not just the law of large numbers which is slowing Amazons growth as the largest player: we think Microsoft is starting to take meaningful share (likely helped by its OpenAI partnership). Advancements are powering our ability to help businesses, big and small, respond in real time to rapidly changing market and consumer shifts and deliver measurable ROI when its needed most. If you continue to see this Als u dit bericht blijft zien, stuur dan een e-mail None of this is new or unexpected memory has been in the worst downturn for over a decade, with writedowns and negative pricing creating a period of record operating losses for all players. per informarci del problema. London gpbullhound.com Joined October 2009. . Aydanos a proteger Glassdoor verificando que eres una persona real. 5 December 2022 - In its 16th year, GP Bullhounds Technology Predictions report has established a reputation as an industry-leading analysis of the trends and innovations shaping the global technology sector with nearly 90% accuracy in the past five years and over 80% in the past decade. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. GP Bullhound Careers and Employment About the company Founded 1999 Company size 11 to 50 Revenue $5M to $25M (USD) Industry Financial Services Headquarters London GP Bullhound website At the turn of the century, Robert Se continui a visualizzare They all need to spend, for different reasons for Meta its about using AI to mitigate some of the advertising performance issues they had as a result of Apples privacy regulations; for Microsoft, AI leadership ensures they attract the next wave of new businesses into their software ecosystem. Samsung gave colour on its capex for this year expecting it to stay at a similar level as last year positive for semicap names where a cut had been anticipated. ASMI (not owned) was more of the same memory weakness continues and some push outs in leading edge foundry offset by strength in China spending on mature nodes. The other big positive delta in the individual business lines was actually around a better than expected PC market, bad but not as bad with signs of a bottoming Windows OEM revenue decreased 28% vs 39% last quarter (the market was expecting it to decline in the mid 30s). enviando un correo electrnico a Not consenting or withdrawing consent, may adversely affect certain features and functions. Votre devis en 48h. naar Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. If you continue to see this This button displays the currently selected search type. Stay Connected.Get the latest News & Insights. para informarnos de que tienes problemas. Poor end demand, continued inventory destocking and further ASP declines have all hurt. las molestias. envie um e-mail para Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. As we commented for Microsoft, whereas AWS was the obvious cloud partner 2 years ago, now, with Microsofts relationship with the flagship OpenAI, they might be starting to be the cloud services platform of choice for new businesses. GP Bullhound is a global partner to brave leaders on a mission to build the future. Aydanos a proteger Glassdoor y demustranos que eres una persona real. Wenn Lamentamos pelo inconveniente. Please enable Cookies and reload the page. Where? Not consenting or withdrawing consent, may adversely affect certain features and functions. Si continas viendo este mensaje, om ons te informeren over dit probleem. Founded in 1999 in London and Menlo Park, the firm today has 13 offices spanning Europe, the US and Asia. Aydanos a proteger Glassdoor verificando que eres una persona real. Ci Our assets under management have a total value of more than $1bn, and our limited partners include institutions, family offices and entrepreneurs. Platform Malaga, Spain View job ["en"] Group Finance Associate - Manchester . This outlook reflects our ongoing build out of AI capacity to support ads, Feed and Reels, along with an increased investment in capacity for our generative AI initiatives. Remember Satya Nadella spent a good deal of Ignite this year talking about how much money do more with less his customers could save by bundling their solutions. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. las molestias. om ons te informeren over dit probleem. San Francisco Bay Area. Learn more about our fundshere. The technical storage or access that is used exclusively for anonymous statistical purposes. Onze Onze excuses voor het ongemak. to let us know you're having trouble. We think this may well happen in certain consumer exposed products where we try to avoid exposure (STMicro is an Apple supplier, which is always tough from a pricing perspective); however, we do not believe we will see pricing pressure in auto and industrial, where components are still sold out and backlog is over a year. Lamentamos pelo inconveniente. Wenn Si continas viendo este mensaje, We do think we should benefit from any memory recovery and the related bit growth through our semicap equipment exposure any stabilisation in DRAM ASPs is positive historically a declining ASP environment has tended to lead to weaker memory spend for our semicap names. Prior to joining the firm, Martin was a founding member of the GCA Altium (later Houlihan Lokey) Frankfurt office in 2012. We are bent on changing the world, sharing a forensic interest in finance, genuine passion for tech, and empathy for what it means to be an entrepreneur. Reels monetization efficiency is up over 30% on Instagram and over 40% on Facebook quarter-over-quarter. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Jan 2018 - Present5 years 4 months. AI is costly the servers that are used in training and inference have a huge amount more semiconductor content in them and are multiples the cost of standard enterprise servers. Caso continue recebendo esta mensagem, Portfolio view: We dont invest in memory players while we do believe that the build out of generative AI infrastructure will result in meaningful bit growth for the memory industry as a result of the DRAM content growth per server, the reality is that the industry relies on rational supply, which can very easily break down, and has always struggled to make a sustainable return just as were seeing now in the industry with the negative impact on pricing. Microsoft (owned) delivered a very good set of results, reporting revenue +10%, EPS +14%, with very little to pick holes in. Disculpa an. message, contactez-nous l'adresse Longer term, we think the incumbent enterprise software businesses (like ServiceNow) are well placed to increase ARPUs through upsell of AI features and capabilities over time. real person. questo messaggio, invia un'email all'indirizzo Lieu-dit Croix Ferrier 2 chemin de la Pierre 38590 Saint-tienne-de-Saint-Geoirs. para nos informar sobre o problema. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. The technical storage or access that is used exclusively for statistical purposes. Contactez-nous. pour nous faire part du problme. How much do GP Bullhound employees make? Aydanos a proteger Glassdoor verificando que eres una persona real. Martin focuses on the Software, Fintech and Digital Commerce sectors. Careers - Jobs - GP Bullhound. Wenn an. The issue for Meta as it relates to return on invested capital (which is always our focus) is that, even if theyre able to catch up with the old targeting success metrics, this is likely a structural increase in cost/capex (server costs), because in order to stay ahead in AI, there is a constant refresh cycle necessary thinking about returns, a 5pp structurally higher capex/sales ratio brings asset turns down and leaves you with a structurally lower returns (which should feed through to valuation). Stockholm School of Economics MSc Finance 1995 1998 Events Number of Events 1 Finance & Accounting Based on 5 salaries Investment Banking Analyst 4 salaries Corporate Finance Analyst 1 salary View More Business Based on 3 salaries Managing Director 1 salary Vice President 1 salary On the UK CMA blocking Microsofts acquisition of Activision, the key to the decision was that the CMA defined the market to be cloud gaming (specifically separate from the console gaming market) and because Microsoft is the largest player in cloud gaming it should be prevented from acquiring important gaming content like Call of Duty, which it would only offer on its own cloud gaming platform. ein Mensch und keine Maschine sind. ServiceNow continues to deliver as the platform play. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Join the GP Bullhound team See Our Latest Jobs 4.0 Current Employee Great WLB and culture, small office. real person. Ajude-nos a manter o Glassdoor seguro confirmando que voc uma pessoa de . to let us know you're having trouble. Caso continue recebendo esta mensagem, Its not clear what measures Microsoft will take (will it have to charge separately for Teams or will having to download it separately be enough for the EU?). Texas Instruments (not owned) beat the quarter though the guide was disappointing it implies revenue decelerates further into the year (-11% yr/yr Q1 to -17% yr/yr in Q2). ein Mensch und keine Maschine sind. envie um e-mail para Technology investment banker focusing on Consumer Subscription Software ("CSS"), SaaS and Digital Services companies . GP Bullhound offers an exciting opportunity to build a truly international career, working with some of the most innovative companies in the technology sector. Aiutaci a proteggere Glassdoor dimostrando che sei una persona reale. excuses voor het ongemak. Tlphone : 04 76 66 85 10. They are all in a race to invest, or risk falling behind. Nom des habitants de Saint-tienne-de-Saint-Geoirs (gentil) Stphanois, Stphanoises. to let us know you're having trouble. Robert Ahldin is a Partner at GP Bullhound Asset Management, advising the GP Bullhound Funds on investments in technology companies. The technical storage or access that is used exclusively for anonymous statistical purposes. enva un correo electrnico a The way Google can use AI in its core business, in a way which doesnt destroy the profit pool of search (ie. In particular were concerns around pricing that STMicro would start to decrease prices of its products. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. For 2023, we are bullish on cloud and artificial intelligence, energy efficiency, enterprise software, and digital consumption to accelerate technologys progress in building the future with revolutionary products and solutions.. All key products grew yr/yr in a falling market; and King had a record quarter with mobile growing double digits in bookings. If you want to join a tightly-knit global team that advises and invests in the worlds most driven entrepreneurs, then check our job listings. Martin Rezaie is Partner and Head of the Frankfurt office at GP Bullhound. Our mission: To support the world's technology entrepreneurs | GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world's best entrepreneurs and founders. For weekly insights on the latest market updates, please subscribe to ourTech Thoughts podcast.For more information about the latest trends and forecasts, please visit ourofficial Tech Thoughts page. Not consenting or withdrawing consent, may adversely affect certain features and functions. Microsoft has spent this year on the front foot as it relates to AI, and the earnings call was no different, with Nadella alluding multiple times to the idea of gaining share. excuses voor het ongemak. Intel (not owned) results were bad, but a bit better than very depressed expectations after the shocker last quarter. Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Disculpa Please help us protect Glassdoor by verifying that you're a It still represents a very rough end market but it is getting better, and we do think inventory has largely cleared. Onze Overview 51 Reviews 7 Jobs 71 Salaries 14 Interviews 9 Benefits 12 Photos 13 Diversity + Add a Review GP Bullhound Reviews Updated 11 Apr 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 23 of over 51 reviews Sort Popular Popular Highest Rating Lowest Rating Most Recent Oldest first 3.7 Onze Platform . You can unsubscribe from these emails at any time. Aydanos a proteger Glassdoor y demustranos que eres una persona real. Meta (not owned) reported a revenue beat (3% growth vs cons -1%) and guided for ~7% growth an impressive acceleration (and one we didnt expect) saying theyre seeing improvement in the ad market, and also benefiting from some of the AI capabilities theyve put in place to deliver more measurable ROI (offsetting ATT). EnquiriesFor enquiries, please contact:Inge Heydorn, Partner, atinge.heydorn@gpbullhound.comJenny Hardy, Portfolio Manager, atjenny.hardy@gpbullhound.comNejla-Selma Salkovic, Analyst, atnejla-selma.salkovic@gpbullhound.com. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Stay Connected.Get the latest News & Insights. enviando un correo electrnico a enviando un correo electrnico a Please help us protect Glassdoor by verifying that you're a Aydanos a proteger Glassdoor verificando que eres una persona real. Wir entschuldigen uns fr die Umstnde. Disculpa The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. per informarci del problema. GP BULLHOUND'S WEEKLY REVIEW OF THE LATEST NEWS ON THE PUBLIC MARKET. 1. For each of Google, Microsoft and Amazon, selling Generative AI capabilities is one way they are trying to attract the next new growth customers to their cloud services. Lamentamos ein Mensch und keine Maschine sind. naar We still see strong demand for power semiconductors, especially in the Automotive segment. The long term structural demand drivers around the build out of chip demand for autos, AI (and China building out meaningful supply at the trailing nodes) will continue to drive top line and all of the players have strong competitive barriers to entry that will allow them to sustain a high level of return. enviando un correo electrnico a They very slightly nudged the guidance to the higher end of the previous range (now 23-23.5% yr/yr growth); The CEO commentary was more of what we heard last quarter around customers consolidating spend around their platform products which speaks to the idea that theyre benefiting from consolidation of spend around them and some of the same bundling/suite effect that Microsoft is also benefiting from. Se continui a visualizzare Sie weiterhin diese Meldung erhalten, informieren Sie uns darber bitte per E-Mail Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Tech Thoughts Newsletter 21 April 2023. About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the worlds best entrepreneurs and founders. For more . Wir entschuldigen uns fr die Umstnde. Aidez-nous protger Glassdoor en confirmant que vous tes une personne relle. We also think there is probably more upside around margins to come and continue to hold it as a core position within our portfolio. verdade. Als u dit bericht blijft zien, stuur dan een e-mail On the margin side, as with many players in tech, cost cutting is helping margin expansion and earnings growth, The standout impressive part of Amazons results was for us its advertising business +23% yr/yr beat all of the digital advertising players by a mile, and is now a $10bn/quarter business (and presumably very profitable..). On the forward guidance numbers given we think Microsoft will add about double the dollar value in the next quarter ($600m vs ~$300m for Amazon). Please complete the form below to subscribe to our newsletter. Wenn las molestias. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. Portfolio view: We continue to think that, alongside our chip exposure, Microsoft is our clearest winner in AI, both by being able to upsell and monetise AI across its half a billion Office users AND by being able to gain market share and workloads within Azure, which we have even more confidence in after this set of results. However it is good readacross for our semis and the positive comment for us and IFX/NXP in the release: . Robert did his first public equity investments as a teenager in the 80's. His professional careeer started in the mid 90's as Equity Analyst focusing on the IT/Internet sectors. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. excuses voor het ongemak.