Full Underwriting CEVA, Inc. ($CEVA): The Edge-AI Toll Booth Is Real. The Royalty Ramp Isn’t—Yet. CEVA has a credible edge-AI and connectivity IP toll booth, but the investment case depends on whether today’s design wins convert into durable production royalties.
Full Underwriting Featured Adeia Inc. (ADEA): The Hidden Tollbooth Beneath AI Chips Hybrid bonding may become critical infrastructure for advanced AI hardware. The bigger opportunity could be the contracts that were priced before it mattered.
