SemiAnalysis acquires Citrini Research to expand AI research

SemiAnalysis, a semiconductor and AI infrastructure research firm, has acquired Citrini Research, a thematic investment research outfit. While the financial terms of the deal were not disclosed, Citrini Research founder James van Geelen will remain as the company’s CEO, suggesting the firm will maintain a degree of operational autonomy.

Founded in 2023, Citrini Research has gained significant attention for its thematic research on how AI infrastructure spending impacts public markets, notably through its Substack presence. SemiAnalysis, founded in 2020 by Dylan Patel, is a prominent research entity specializing in GPU supply chains, custom silicon roadmaps, and data center economics.

SemiAnalysis CEO Dylan Patel stated that the acquisition aims to expand the firm’s research scale and adapt to a new era where research is increasingly democratized. The move is expected to combine SemiAnalysis’s supply chain expertise with Citrini’s market-oriented research capabilities.