UiPath may carry the highest business-model risk of any SaaS company because LLM agents with computer use compete directly with its robotic process automation. Rivals include Anthropic and OpenAI themselves. Its base is sticky for now, with 97% gross retention, regulated large-enterprise customers and long contracts, giving it time to sell AI tools. Still, it would be very surprising if gross retention stays in the high 90s, and the 2x EV/ARR multiple reflects the threat. x.com 

Microsoft is a bigger near-term competitive threat to UiPath than Claude, a point that gets overlooked. Claude is the best standalone model, but large enterprises often block it over security, compliance and data governance, while Microsoft's Copilot is already embedded in daily tools and getting good enough. Microsoft's agentic tools are not yet on par with UiPath and the two are partners for now, and orchestration may leave room for UiPath if management executes. x.com  x.com 

UiPath's real story is distribution through Microsoft, not bots. Per @JasonL_Capital, it partnered with Microsoft to integrate security automation into Defender, Sentinel and Security Copilot. Sitting inside the Microsoft stack lets UiPath inherit Microsoft's enterprise footprint overnight, a sticky position, because enterprise software winners become part of the workflow rather than another tool on top of it. x.com 

UiPath keeps getting struck out as Anthropic launches products that, per @kimmonismus, wipe out dozens to thousands of startups. x.com 

Vertical market software could become more valuable as AI agents need its permission, audit and human-control systems to operate safely. Municipal and hospital software already supplies those controls; more capable models increase the value of that layer rather than replace it. Constellation Software, Topicus and Sygnity stand to benefit if vendors open their systems to AI and build the controls themselves; otherwise another provider could take that role. x.com 

UiPath, Zeta Global and ServiceNow are discounted because the market treats AI as a pure threat rather than a product accelerator, as it once did with Google, now up 120% this year. They should rerate once investors see that AI makes their products better, faster and more valuable, and that AI still needs real enterprise workflows, data, compliance, automation and execution layers to be useful. x.com 

The AI spending cycle is only around 11 to 11:30 pm at a party that runs to 4 am, with roughly 15% of AI capex spent. Spending is spreading through memory, infrastructure, energy and neoclouds, and sovereigns and Asia have barely started. Bumps and turbulence will come, but the party continues, with a Nasdaq 30,000 target. api.omny.fm 

Seat-based software is highly vulnerable in the AI era, while usage-based software with strong moats is the winning formula. AI agents can do many human tasks, shrinking seats and revenue at Salesforce, ServiceNow, Workday, Atlassian, HubSpot, Zoom, DocuSign, Asana, monday.com, UiPath and Adobe. Usage-based models that charge for compute, data or outcomes, such as Snowflake, Datadog, Cloudflare, Palantir and CrowdStrike, tend to grow with AI activity. Switching models is slow and may fail. x.com 

UiPath will be among the AI winners because AI agents cannot replace everything. Companies still need deterministic automation that is reliable, controllable and free of constant token consumption, and UiPath connects that world with agentic AI. After Q2 FY27 the case is more convincing than ever. x.com 

Large mission-critical software platforms such as Atlassian, Twilio, Salesforce, Workday, ServiceNow and SAP are being lifted by AI, not destroyed by it. Datadog hit an all-time high on AI after Atlassian and Twilio accelerated. They can charge external AI agents a toll to access their systems of record, volume set to grow 100x in 12-24 months; sell their own agents; and expand into areas like security. AI resembles web to mobile, a tailwind for the best companies, though not all SaaS is safe. … Show more