ParTec AG Receives Buy Rating from First Berlin Equity Research with a Target Price of €220

First Berlin Equity Research GmbH initiated coverage on ParTec AG (ISIN: DE000A3E5A34) on March 26, 2024, with a buy rating and a target price of €220. ParTec AG has innovated in the supercomputer industry by bringing to market a new supercomputer architecture known as dynamic Modular System Architecture (dMSA). This breakthrough technology improves the scalability, cost-effectiveness, and computational speed compared to existing systems by enabling more efficient communication between CPUs and GPUs across different nodes. This design addresses the inefficiency of static node architectures, reduces the hardware resources needed for computations, and optimizes energy consumption by facilitating task allocation to less energy-intensive GPUs.

Since 2017, ParTec, in collaboration with its partners, has launched five modular supercomputers, all ranking among the top 40 fastest globally at their time of introduction, generating approximately €174 million in sales. Furthermore, ParTec is expected to complete JUPITER, Europe's first exascale supercomputer, for the Jülich Research Centre in Germany by November 2024. This project is anticipated to generate around €100 million in revenue for ParTec and position JUPITER as the world's second fastest supercomputer. With the growing demand for AI technologies, the supercomputer market is projected to experience accelerated growth. Based on a DCF valuation model, First Berlin Equity Research recommends a Buy for ParTec AG shares.