Bentley Systems (BSY) M&A call on how it sees the grid integration opportunity…. “But let’s go back to what we might mean by the grid integration opportunity. So Power Line Systems caters for the engineering of the transmission structures, which you see here in blue, when there are towers and in some cases, poles carrying the higher voltages. At Bentley Systems, our business in the electric web is through our open utilities designer for, if you like, network provisioning and our OP utility substation product, both on the distribution side. So this is the lower voltage local networks that we’re all familiar with in our neighborhood. And then we acquired this year despite an analysis product for distribution structure and wire combinations. And that has been our footprint. So clearly now to put together the transmission engineering with distribution, engineering is the beginning of an opportunity for grid integration for the electric network. But this business alone, the Power Line Systems business, on its own would grow substantially faster going forward because of the developments we’re all familiar with, and I might say, I haven’t gone out of the way here to quote lots of investment figures because I think each of your firms very likely is researching this very opportunity in the energy transition. Another way to look at this just among the transmission lines, and looking at the U.S. as an example, here is an estimate that the 600,000 miles of transmission lines we have now will lead for 0 carbon accomplishments to be 6x that scale of transmission lines over these next 30 years. So there’s lots and lots of opportunity in distribution networks for 4D digital twins, and I believe that will be the biggest opportunity accelerated in this grid integration potential. And of course, that — this coincides with the world consensus to focus, in particular, on this transmission grid bottleneck and going green and decarbonizing in the world. Goldman Sachs estimate of the expenditure that will be needed to accomplish the generally agreed goals include — runs to $6 trillion per year. But in particular, that aspect of which has to do with this great integration I’m talking about and will help grow the proportion that represents of our business at Bentley Systems is the proportion shown here. And then the broadband infrastructure, comm investment in those networks is likewise significant.”

MKS Instruments (MKSI) at Deutsche Bank Conference on its business and opportunity…. “So as you know, we’re a leader in critical subsystems to the semiconductor market. So we provide these subsystems to the capital equipment OEMs that then sell those tools that are used in the fabrication of chips. So we have a pretty unique portfolio that stretches across vacuum products for such applications as deposition and edge. And we also have a photonics portfolio that address applications such as lithography, metrology and inspection. And we actually serve greater than 85% of the wafer fab equipment market.  And so one of the examples of the share gain is RF power. We’ve talked a lot about this, but we saw a transition from 2D or planar NAND to vertical or 3D NAND. And we saw an opportunity there because there was a need for higher RF power content to address that transition and the growing verticality. We’ve made some investments, secured design wins and we took a lot of share. We’re also excited about a number of other opportunities. There’s atomic layer deposition. There’s an advanced lithography, metrology and inspection applications that we’re investing in. And so that gives us confidence that we can outperform WFE over the long term by that 200 basis point organic growth. And I think that as far as cyclicality, we think that there are some really powerful trends in semi, and they’re going to continue over the long term. There will be cyclicality. But the industry today is a lot healthier than it was maybe 10, 15, 20 years ago. And there are a few reasons for that. So number one, it’s a lot more consolidated. So there are a lot less chip makers, and they’re much more rational. And there are a lot less capital equipment makers and they’re rationale as well. So that gives you just a healthier industry that’s consolidated. Number two, the end applications for semi are more diverse. So you may remember 10, 15 years ago, a lot of semi was driven by PCs. And so it’s very concentrated, that created a lot of volatility and cyclicality because it was concentrated around PCs. Now you can all see that its PCs are still important but it’s smartphones that require a lot of chip content. It’s automobiles that are data centers on wheels essentially. And it’s cloud. These are hyperscale data centers.”

Nvidia (NVDA) earnings call on the Omniverse Avatar…. “And the new stack is hard because you have to understand the application, you tie algorithms, the mathematics, you have to understand computer science to dispute across to take something that was a single treated and make a multi-credit and make something that was done sequentially and make it process in parallel you break everything, you break storage, you break networking, you break everything. And so it takes a fair amount of expertise, and that’s why we say that over the years — over the year, the course of 30 years, we’ve become a full-stack company because we’ve been trying to solve this problem price through decades. And so that’s one. But the benefit, once you have that ability, then you can open new markets. And we played a very large role in demonetizing artificial intelligence and making it possible for anybody to be able to do it. In the case of the Omniverse Avatar, you can literally put to Merlin recommender Megatron, language large language model, Riva, the speech AI, all of our computer vision AIs that I’ve been demonstrating over the years, natural speed synthesis that you see every single year with IMI, the opening credit, how we’re using developing AI to be able to speak in a human way so that people feel more comfortable and more engaged with the AI Phase eye tracking, Maxim, and all of these technologies all kind of tie together.  And now there’s the question how quickly will we deploy this? I believe Omniverse Avatar will be in drive-throughs of restaurants, fast food restaurants, checkouts of restaurants in retail stores all over the world within less than 5 years. And we use all kinds of different applications because there’s such a great shortage of labor. And there’s such a wonderful way that we can now engage in Avatar. And it could think — it doesn’t make mistakes, it never gets tired and it’s always on. And we now so that it’s cloud native. And so when you saw the keynote, I hope you’d agree that the interaction is continuous and the conversational form is so enjoyable. And then lastly, with respect to Omniverse, I believe it’s a near-term opportunity that we’ve been working on for some 3, 4, 5 years.”

Sonos (SONO) earnings call on its opportunities ahead… “On that note, we ended fiscal 2021 in 12.6 million homes, an increase of 15% from the prior year. As we look toward our opportunity ahead, we believe that Sonos is just getting started and has barely scratched the surface of our large and growing addressable market and have a tremendous runway to add tens of millions more homes to the Sonos ecosystem long term. We have an exciting and robust product road map ahead. As you saw, we are off to a great start this fiscal year with the launch of Beam Gen 2 on October 5, the latest version of our industry-leading compact smart soundbar bar, delivering upgraded, more immersive sound experience with greater depth and clarity as well as support for Dolby Atmos. We continue to deliver on our promise to introduce at least 2 new products per year. And in fiscal 2021, brought new products and services to the market such as Roam, Sonos Radio HD and new partner products with Audi and IKEA. There are 3 macro trends that we believe have and will continue to fuel our growth. First, the Golden Age of Audio. The volume of music, audio books and podcasts we have access to now is enormous. And as more and more people become creators and find interesting new audio formats, even more time will be spent with audio. As the leading premium home audio brand, Sonos is very well positioned to continue to capitalize on this. Second, Hollywood at Home. With more and more video content going direct-to-home, there has been a decade of change in the past year and companies bringing the newest movies right into our living room. Consumers are demanding a theater-like experience at home, evidenced by the fact that consumers are buying larger and larger TVs and driving significant growth in smart TV and streaming video time. Sonos as the #1 brand in premium home theater is well positioned to be the go-to source for consumers looking to bring theater-like sound to their home theater setup. And the third trend, fueling our growth is The Great Reshuffling. This is the untethering of people from their commutes and offices, which has really enabled them to reevaluate how and where they want to live. We believe this will be a multiyear cultural trend driving consumers to continue to invest in their homes.”