Is Texas Instruments (NASDAQ: TXN) one of the overlooked opportunities in the semiconductor and AI boom?

In this episode of OrderPad, Felicity takes a closer look at Texas Instruments one of the world’s largest analog semiconductor companies and why the next phase of the semiconductor cycle could be particularly interesting for investors.

While Nvidia and the major AI chipmakers dominate the headlines, Texas Instruments operates deeper within the semiconductor ecosystem, providing analog and embedded-processing technology used across AI data centres, industrial automation, automotive, power management and thousands of electronic applications.

We unpack the improving semiconductor cycle, TI’s significant investment in 300mm manufacturing capacity and why moderating capital expenditure could potentially drive a major free-cash-flow inflection.

Felicity also explores the recent UBS investment thesis on Texas Instruments, including its US$380 price target and expectations for stronger earnings and free cash flow as the analog cycle recovers.

But there’s also a fascinating Australian connection: Weebit Nano (ASX: WBT).

Texas Instruments has licensed Weebit Nano’s ReRAM non-volatile memory technology for integration into TI process technologies for embedded-processing applications.

Importantly, TI has not yet completed qualification of Weebit’s technology. Technology transfer is progressing, with the potential commercial pathway being:

Licence → Technology Transfer → Qualification → Product Tape-Out → Production → Royalties

We also discuss the latest developments at Weebit Nano, including its broader customer pipeline, successful customer tape-outs, functional silicon, its relationship with onsemi and what investors should watch as WBT works towards production royalties.

In this episode: Texas Instruments and the analog semiconductor recovery; AI and data-centre demand; TI’s manufacturing and free-cash-flow opportunity; the UBS US$380 price target; Weebit Nano and ReRAM; the TXN/WBT relationship; and the key catalysts and risks ahead.

Tickers discussed: NASDAQ: TXN | ASX: WBT

The information in this episode is general information only and does not take into account your personal objectives, financial situation or needs. It is not personal financial advice or a recommendation to buy, sell or hold any security. Please conduct your own research and consider seeking professional financial advice before making an investment decision.

Views expressed by Felicity are her personal views based on publicly available information, third-party research and her own research. This content is not Shaw and Partners research and has not been prepared, reviewed or approved by Shaw and Partners. Nothing in this episode should be taken as representing the research, recommendations or views of Shaw and Partners.

Any third-party forecasts, valuations or price targets discussed, including UBS research, represent the views of those third parties and are not Felicity’s own forecasts. Investing involves risk and past performance is not a reliable indicator of future performance. Recorded 22nd September 2026 with all facts known at the time of recording.

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What is the market missing and where are the opportunities emerging on the ASX?

In this episode of Talk Money To Me, Candice Bourke and Felicity Thomas sit down with Julia Weng, Lead Portfolio Manager at Paradice Investment Management, to unpack what the latest reporting season revealed about corporate Australia and the outlook for Australian equities.

Julia takes us inside the thinking of a fundamental fund manager looking beyond headline earnings to understand cash flows, balance-sheet strength, management quality and, importantly, what the market may be getting wrong.

We explore Australia’s emerging two-speed economy, where household conditions remain relatively subdued while corporate capital expenditure continues to accelerate, and discuss what employment, household savings, housing activity and business investment are telling us about the health of the economy.

We also dig into some of the biggest investment themes facing ASX investors right now, including:

• Australian banks — have valuations moved too far ahead of the fundamentals, and what has really been driving the sector higher?
• AI and Australian equities — are companies actually seeing productivity and earnings benefits from artificial intelligence, or is the investment case still largely based on promise?
• REA Group, CAR Group and SEEK — could AI disrupt these businesses, or does their proprietary data actually become more valuable in an AI-driven world?
• Healthcare and former market darlings — how do you distinguish between a genuine buying opportunity and a company that deserves to trade at a lower valuation?
• WiseTech Global — what would Julia need to see before becoming more constructive on the stock?
• AG — why Julia sees the insurer as a particularly interesting exposure within the Australian market.
• Xero — and why Paradice remains constructive on the company's competitive position.

Julia also walks us through the Paradice investment process, including how the team decides when to buy and sell, the few things that really matter when analysing a company, and the question at the heart of their stock selection process: what could the market be missing?

The Paradice Australian Equities Fund typically holds 30–50 companies from the S&P/ASX 300, with its investment process focused on management, current and future cash flows and balance-sheet quality. As at 31 August 2026, the Fund had returned 10.34% p.a. net of fees since inception versus 9.20% p.a. for the S&P/ASX 200 Total Return Index, an outperformance of 1.14% p.a.

If you invest in Australian shares, ASX companies or managed funds, or simply want to understand what professional investors are seeing beneath the surface of the market, this is an episode you won't want to miss.

DISCLAIMER

The information discussed in this podcast is general in nature and does not constitute personal financial advice or a financial product. Although Candice Bourke and Felicity Thomas are registered Financial Advisers at Shaw and Partners, the content discussed does not take into account your personal objectives, financial situation or needs. You should seek appropriate professional advice before making any financial decisions.

Any views or opinions expressed by our guest are their own and should not be taken as personal financial advice or a recommendation to buy or sell any particular investment. Past performance is not a reliable indicator of future performance. Facts and information discussed in this episode are based on information available at the time of recording, 14 September 2026.

Talk Money To Me is hosted by Candice Bourke and Felicity Thomas of Shaw and Partners.

To learn more about our investment and financial solutions, or to discuss the Paradice Australian Equities Fund, contact us at cftgroup@shawandpartners.com.au.

#TalkMoneyToMe #AustralianEquities #ASX #AustralianShares #Investing #ReportingSeason #AI #ArtificialIntelligence #Paradice #FundManager #PortfolioManagement #AustralianEconomy #WiseTech #IAG #Xero #ASX200

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Candice is back on Talk Money To Me after a short break from the podcast, having welcomed her beautiful twin boys!

And she’s returning with a high conviction BUY for the Order Pad.

In this episode, Candice is bullish on Applied Materials (NASDAQ: AMAT), one of the world’s leading semiconductor equipment companies and a lesser-known way to gain exposure to the enormous investment taking place across AI and advanced computing.

While Nvidia designs many of the chips powering the AI revolution, companies still need increasingly sophisticated equipment to manufacture them. That’s where Applied Materials comes in.

Candice breaks down why rising demand for AI, high-bandwidth memory (HBM), advanced logic and advanced packaging could create a powerful long-term growth opportunity for AMAT, and why she views the company as a classic “picks and shovels” play on the AI boom.

She also digs into Applied Materials’ record financial results, the outlook for 2027, the risks investors need to consider and why UBS’s US$675 price target supports the bullish investment case.

The information in this podcast is general in nature and does not constitute personal financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for your circumstances and seek professional financial advice where appropriate.Where financial products are discussed, you should consider the relevant Product Disclosure Statement or other applicable disclosure document before making an investment decision. Views and opinions expressed by the host or guest are their own at the time of recording and may change. References to companies, securities, sectors or investment strategies are for general information only and should not be considered a recommendation to buy, sell or hold any investment.

Investing involves risk, including potential loss of capital. Past performance is not a reliable indicator of future performance. Everything is based on facts known at the time of recording 1st September 2026.

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Can investors capture the enormous growth behind AI without chasing the most expensive stocks in the market?

In this episode of Talk Money To Me, Felicity Thomas is joined by Sally Bertouch, Portfolio Manager and Managing Director at Cullen Capital Management (Schafer Cullen Capital Management), to unpack global markets, AI, value investing, income and the major structural trends creating opportunities for investors.

Founded in New York in 1983, Cullen Capital is 100% employee-owned and has more than US$30 billion in assets under advisement. Its investment philosophy focuses on finding quality global businesses trading at attractive valuations, with sustainable cash flows, dividends and long-term earnings growth.

Felicity and Sally discuss:

• The 2026 global market outlook, including AI, geopolitics, oil, inflation and interest rates.
• What has been driving the Shaw Global Equity Income portfolio and how Cullen balances income with capital growth.
• How Cullen avoids the classic dividend trap when searching for attractive yields.
• Why Cullen added Novo Nordisk following significant share-price weakness.
• The investment case for Hon Hai, a major manufacturer of AI server infrastructure.
• Why Sally describes AI as entering its “toddler years” and what that means for investors.
• Where the next wave of AI investment could flow across semiconductors, power, electricity grids, automation and data-centre infrastructure.
• How a value investor can participate in the AI megatrend without paying any price for growth.
• Opportunities beyond AI across electrification, automation, GLP-1s, energy infrastructure and financial consolidation.
• Why emerging-market dividends could represent an overlooked opportunity for income and growth investors.

And to finish, Felicity puts Sally on the spot: if she had to choose one stock as her top investment idea right now, what would it be and why?

Follow Talk Money To Me wherever you get your podcasts for more conversations on investing, markets and portfolio strategy.

The information in this podcast is general in nature and does not constitute personal financial advice. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information, consider whether it is appropriate for your circumstances and seek professional financial advice where appropriate.Where financial products are discussed, you should consider the relevant Product Disclosure Statement or other applicable disclosure document before making an investment decision. Views and opinions expressed by the host or guest are their own at the time of recording and may change. References to companies, securities, sectors or investment strategies are for general information only and should not be considered a recommendation to buy, sell or hold any investment.

Investing involves risk, including potential loss of capital. Past performance is not a reliable indicator of future performance. Everything is based on facts known at the time of recording 19th August 2026.

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In this episode of Talk Money To Me, Felicity Thomas sits down with Emma Stephens from Artemis Finance to unpack what is really happening in the Australian property and lending market in 2026.

From housing affordability and interest rates to wealth creation, financial empowerment and lending challenges, this conversation dives into the real financial pressures Australians are facing right now and the practical strategies helping people move forward with confidence.

Emma shares her insights from working directly with families, business owners, first home buyers and women navigating separation, lending pressures and long-term financial security in a high cost-of-living environment.

In this episode we discuss:

• The reality of the Australian property market in 2026
• Whether the “Australian Dream” is still achievable
• Housing affordability and cost-of-living pressures
• Property investing and investor sentiment following the May 2026 Budget
• Women, wealth creation and financial empowerment
• Lending challenges for single-income households and first home buyers
• Fixed vs variable rates in today’s market
• The habits financially successful people consistently have
• Practical tips for young Australians wanting to enter the property market
• Financial confidence, strategy and long-term wealth creation

Emma Stephens is a mortgage broker at Artemis Finance, specialising in residential and business lending, refinancing, property strategy and helping clients create long-term wealth through smart lending solutions. Emma is a proud Noosa local, former Bank Manager for Noosa and Tewantin, and passionate advocate for women building financial independence through education, connection and smarter money conversations.

If you enjoyed today’s conversation or would like assistance with lending, refinancing, property strategy or wealth creation, reach out to Emma Stephens and let her know you heard her on Talk Money To Me.

Emma Stephens Artemis Finance

📧 emma@artemisfinance.com.au

🌐 https://artemisfinance.com.au/

📍 Sydney & Noosa, Australia

Artemis Finance specialises in:

• Home loans
• Investment lending
• Refinancing
• Lending for self-employed borrowers
• Property strategy
• Wealth creation strategies
• Women’s financial empowerment

Follow Talk Money To Me for weekly conversations covering:

• Investing
• Property
• Wealth creation
• Markets & macro trends
• Financial literacy
• Business
• Women & money
• Portfolio strategy

Disclaimer

This podcast is presented by Felicity Thomas and Candice Bourke of Shaw and Partners Limited ABN 24 003 221 583, AFSL 236048.

The information discussed in this podcast is general information only and does not take into account your personal objectives, financial situation or needs. Before making any financial decision, you should consider the appropriateness of the information having regard to your own objectives, financial situation and needs, and seek independent financial, legal and taxation advice.

Any views, opinions or forecasts expressed are those of the speakers at the time of recording and are subject to change without notice. References to property, lending, investments or financial strategies are for educational and informational purposes only and do not constitute personal financial advice, lending advice or recommendations.

Past performance is not a reliable indicator of future performance. All investments and financial strategies carry risk.

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In this episode, Felicity Thomas and Candice Bourke sit down with Armina Rosenberg, Co-Founder of Minotaur Capital, for a fascinating deep dive into the next wave of AI investing opportunities, global equity themes and the market trends sophisticated investors are watching closely right now.

The conversation explores why Minotaur Capital believes the biggest opportunities in AI may now sit beyond Nvidia particularly across AI infrastructure, memory semiconductors, power networks and the “picks and shovels” powering the AI revolution.

Armina shares:

• Why SK Hynix is Minotaur’s highest conviction global stock idea
• Why the memory super cycle could still be in its early stages
• Whether Nvidia is still attractive at current valuations
• Why Minotaur remains short Tesla
• The risks around overcrowded AI trades and hyperscaler spending
• Opportunities in defence, energy transition and AI infrastructure
• How Minotaur uses proprietary AI tools internally to analyse markets faster than traditional fund managers
• The growing disconnect between market headlines and underlying fundamentals
• What could trigger a meaningful AI-fuelled correction in markets

The discussion also unpacks some incredible real-world examples of how AI is already changing investing, including Minotaur’s internally developed AI research system Taurient, which helps the team analyse global companies, reporting seasons and thematic opportunities at extraordinary speed and scale.

Armina also explains why memory semiconductors particularly HBM memory may become one of the most important and profitable areas of the global technology ecosystem over the coming years, driven by explosive demand from AI models, hyperscalers and data centres.

If you’re interested in AI investing, Nvidia, semiconductors, SK Hynix, Tesla, global equities, thematic investing or the future of financial markets this episode is packed with institutional grade insights and investment ideas.

📩 If you would like to learn more about the fund using AI and proprietary technology to identify opportunities across global equities, you can learn more directly www.minotaurcapital.com

Or feel free to contact the teams directly:

📧 Minotaur Capital: invest@minotaurcapital.com

📧 Candice Bourke & Felicity Thomas: cftgroup@shawandpartners.com.au or info@cftgroup.com.au

⚠️ Disclaimer

This podcast is intended for educational and informational purposes only and does not constitute personal financial advice, investment advice or a recommendation to buy or sell any financial product or security. Any views, opinions or market commentary expressed are those of the speakers at the time of recording and may change without notice.

The information discussed is general in nature and has been prepared without taking into account your personal objectives, financial situation or needs. Before making any investment decision, you should consider the appropriateness of the information having regard to your own circumstances and seek independent financial, legal and tax advice where appropriate.

Past performance is not a reliable indicator of future performance. All investments involve risks, including the risk of loss of capital. References to specific companies, sectors or investment themes are provided for illustrative and educational purposes only and should not be relied upon as investment recommendations.

Felicity Thomas and Candice Bourke are Authorised Representatives of Shaw and Partners Pty Ltd ABN 24 003 221 583, AFSL No. 236048.

Minotaur Capital Global Opportunities Fund is currently only available to wholesale and sophisticated investors.

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In this episode of Order Pad, Felicity deep dives into Taiwan Semiconductor Manufacturing Company (TSMC) and explains why it may be one of the most important long-term investments in global markets today.

As the dominant manufacturer behind Nvidia, Apple, AMD and the broader AI ecosystem, TSMC sits at the centre of the explosive growth in artificial intelligence, data centres and global compute demand.

We break down:

• Why TSMC controls the AI supply chain
• The company’s extraordinary ~50% net profit margins
• AI infrastructure growth and semiconductor demand
• TSMC’s competitive moat and market dominance
• Valuation vs Nvidia, Microsoft and Apple
• Key risks including Taiwan and geopolitical tensions
• What could go right and what could go wrong
• Why we believe TSMC remains a BUY despite trading near all-time highs

If you’re looking for exposure to the long-term AI megatrend, this episode explains why TSMC could be one of the highest-quality infrastructure plays in global markets.

⚠️ Disclaimer

This podcast is general information only and does not take into account your personal objectives, financial situation or needs. It should not be considered personal financial advice. Before making any investment decision, you should consider whether the information is appropriate for you and seek advice from a licensed financial adviser. Prepared by the Talk Money To Me advisers at Shaw and Partners Limited (AFSL 236048). Information discussed is based on facts known at the time of recording, 5 May 2026.

Email us cftgroup@shawandpartners.com.au

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