DETAILS: February 28, 2003 w/ Frank han

CONTRIBUTION: Researched the video graphics accelerator market, gave a historical overview of the industry, looked into the relationship between hardware and software and did FCFE valuations for both firms.

OF INTEREST: After a few years of a near monopoly, Nvidia is hurting: Why? ATI is back. After a disappearance act, the company has fought back to re-take the lead with its Radeon 9000 series of cards in one of the most soap-operatic battles since Microsoft vs. Apple. But since the market changes so rapidly, who'll take over in the next cycle?

DOWNLOADS: Powerpoint PDF / Valuation XLS