Patel, an AI analyst at SemiAnalysis, is also an investor — he has put money into roughly 20 AI startups, including Thinking Machines Lab, the company founded by Mira Murati, and Enfabrica, a chip startup that signed a licensing deal with Nvidia worth over $900 million last year. When SemiAnalysis research reports cover these companies, they don't proactively disclose Patel's financial ties the way traditional media would, and they continue to cover their competitors as usual.