Credit Analyst

Employment Type: Full‑Time | Work Setting: In‑office | Work Location: New York / San Francisco | Work Hours: Office hours

About SemiAnalysis

SemiAnalysis is an independent research firm focused on semiconductors and AI. We combine technical research, financial analysis, and industry expertise to help investors and technology companies understand these industries and make informed decisions.

Position Overview

With an estimated $11 trillion of cumulative AI CapEx through 2029 requiring roughly $7 trillion of debt financing, SemiAnalysis is building its Capital & Markets team to answer critical questions about how this investment will be funded. Our mission is to forecast capital needs across neoclouds, hyperscalers, and AI labs; explain how financing structures must evolve to serve those needs, including shorter‑duration demand from AI‑native companies; and maintain a comprehensive database of funding, offtake, backstop, guarantee, credit enhancement, and off‑balance‑sheet arrangements that makes interconnected exposures clear.

We are looking for an experienced markets professional with strong pricing knowledge and established investor relationships. You will assess market conditions, investor appetite, and credit pricing, while helping expand our GPU rental indices across chip types and contract durations and develop token price and inflation benchmarks to support underwriting and risk management. Candidates from credit sales, sales trading, and trading are welcome. This role focuses on market analysis and relationships and does not involve managing a trading book.

Responsibilities

• Provide current views on credit pricing and explain the factors driving changes in the market.
• Track new issuance, investor demand, and trading activity to understand how supply and demand affect pricing.
• Build and maintain relationships with credit investors, lenders, and other market participants.
• Assess which investors are likely to be interested in a financing opportunity and what terms they would expect.
• Work with credit analysts to connect their financial analysis with current pricing and investor expectations.
• Communicate market insights clearly and explain their implications for the team’s work.

Requirements

• 5–7 years of experience in credit sales, sales trading, or trading.
• Regular experience pricing debt or discussing pricing with investors and traders.
• Strong understanding of how company fundamentals, supply and demand, and investor activity affect credit pricing.
• An established network across credit markets and a detailed understanding of different investors’ mandates and preferences.
• The ability to form a clear market view, explain the reasoning behind it, and reassess it as conditions change.
• Strong communication and relationship‑management skills.
• Interest in applying market experience to analysis and investor relationships without managing trading risk.

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