Assessing Blaize Holdings (BZAI) Valuation After Nokia AI Inference Memorandum Of Understanding

The article discusses the valuation of Blaize Holdings (BZAI) following a Memorandum of Understanding with Nokia. It notes the stock's recent poor performance despite the news, attributing it to funding needs (a new $250m shelf registration). It frames Blaize as a 'high upside, high uncertainty AI edge play' with a fair value estimate of $7.80, significantly higher than its trading price of $1.75. The investment thesis hinges on scaling contracts and a richer hardware mix, supported by ~$160 million in contracted revenue visibility over the next six quarters. However, it also highlights risks related to ongoing net losses and a sharp drop in gross margin.