Accenture and Wolters Kluwer benefit massively from cheaper AI tokens and margin gains as they deploy AI. Their knowledge costs rank among the highest relative to COGS, but regulatory capture, reputation and sticky customers keep revenue broadly intact. Neither shows clear signs of slowing growth; Accenture guided to high-single-digit revenue growth from 2029. Despite enormous terminal-value compression, an unwinding AI-infrastructure trade could bring a sizeable rerating if fundamentals hold. … Show more

Zeta Global, ServiceNow, Datadog and CrowdStrike look increasingly attractive among software names as AI disrupts applications: businesses with proprietary data that build on AI and deliver intelligence and measurable outcomes could win. Cybersecurity valuations remain a concern. x.com 

Synopsys's investor day directly undercut the bear case, so the tepid stock reaction is hard to explain. It smashed 2027 revenue growth estimates and raised long-term targets for both segments. Its OpenAI partnership to jointly develop a model could look like letting the fox into the henhouse, but it is a direct admission that AI cannot bypass Synopsys's IP-protected data moat, which was the core bear argument. x.com 

The 'SaaSpocalypse' narrative is wrong because AI makes replacing enterprise software more expensive, not cheaper, leaving beaten-down SaaS stocks at once-in-a-lifetime entry levels. Replicating ServiceNow would take some 40,000 engineers to match 20 years of code, and even AI coding would raise costs, since tokens are not free and model labs lack the capacity to be enterprises' database layer. LLMs are pattern recognizers that can fail catastrophically on new problems. x.com  x.com 

AI's application layer remains the long-term bet: after 24 months in infrastructure on obvious earnings, capital must now move to the layer that produces durable economic value. Tempus AI's edge is proprietary data, which stays scarce as raw intelligence gets cheaper. Eli Lilly's LillyPod pairs 1,000 Blackwell GPUs with decades of clinical data, an underrated moat. Lemonade's tech yields cost, price and growth edges. Coinbase provides the stablecoin financial guardrails agentic AI needs. x.com 

Wiley's sell-off is a gift: it is one of the most promising AI data players, trading under 2x sales while projecting 27% growth, yet the market dumped it on one flat quarter. Peer-reviewed journals carry some of the highest per-token value of any data, which should rise dramatically in a few years, so taking on leverage to acquire content is welcome. @Heady_Creek counters that the core business is declining and AI growth comes from acquisitions like Emerald. x.com  x.com 

Horizontal SaaS tools such as HubSpot, Atlassian and Intuit will be disrupted as companies build their own replacements with AI. Per @CJ0pp3l, quoting one of Constellation Software's AI leads, HubSpot, Jira, Mailchimp and Zendesk have been replaced with AI-built systems and agents, and only vertical software with strong systems of record and deep workflow integration will grow with AI. The market also sold vertical names like Constellation and Topicus, which hold deep platform data. x.com 

SaaS is alive: AI is not replacing entrenched enterprise platforms such as Palantir, Microsoft, ServiceNow, Shopify, Datadog, Salesforce, Snowflake, AppLovin, MongoDB and Zeta. Switching costs and risks are too high, and no credible CTO will swap ServiceNow for a stitched-together AI replacement. Using AI themselves should expand margins by cutting headcount bloat and lifting revenue through AI features. ServiceNow has 600+ customers with ACV over $5M, up 22%, and rose 23% in a week. x.com 

AI models are becoming a commodity, so the moat is moving to the data layer, which the market has not repriced. Innodata creates training data; Reddit licenses human conversation to Google and OpenAI at a 0.76 PEG; Snowflake stores it with 126% net retention; ServiceNow deploys agents, with $1M+ Now Assist customers up 130%; CrowdStrike secures it at 97% gross retention; Datadog bills more as inference scales. Palantir grows fastest but at ~67x forward sales. Reddit and Datadog are best value. … Show more

Tyler Technologies trades at 34x GAAP EBIT, not inexpensive for roughly 10% aggregate growth, and AI is unlikely to change its story in the next few years. Its view of AI is the most muted of any public SaaS company, perhaps rightly given slow government buyers and its ongoing cloud transition; management calls AI a tailwind, not a big one. Long run, AI could make copying its software cheaper and pressure pricing, while cautious local governments and brutal go-to-market give it time to respond. … Show more