Notes: AI Bubble? Refining the Forward ROIC
Summary
* The refined forward ROIC model focuses on Microsoft, Amazon, and Google,
Notes: AI Bubble? Spending, Risks, and Returns — A High-Level Assessment
Summary
* Hyperscalers’ AI capex is soaring past historical limits, forcing creative financing
Lumentum Holdings: The Optical Engine Behind the AI Data-Center Revolution
Summary
* Record 1Q26: $533.8m revenue (+58% YoY) with next-quarter guide $630–
Notes: Pagaya, A Fintech We Want to Believe In — and Finally Might Be Able To
Updates: Rubrik - Building a Data-Centric Cyber Resilience Moat (Pt.2)
Updates: Rubrik - Building a Data-Centric Cyber Resilience Moat (Pt.1)
Summary
* Rubrik has transformed traditional backup into a high-value cyber resiliency platform,
Notes - When AI Meets SaaS: Disruption, Adaptation, and the Moat of Taste
Summary
* AI threatens enterprise SaaS more than consumer apps, as agentic interfaces
Upstart - Pioneering AI Credit Underwriting (Pt.2)
Summary
* Upstart’s model improvements post-Model 18 have unlocked broader bank approvals
Upstart - Pioneering AI Credit Underwriting (Pt.1)
Summary
* Fintech’s first wave overpromised disintermediation; the next wave is about
The Year of AI DevOps & Fears for GitLab (Pt.2)
Summary
* GTLB is taking a defensive stance toward the rise of AI
Notes: Incumbents vs. AI-Natives: Who Wins the Next Software Cycle?
Summary
* The AI narrative has swung from favoring SaaS incumbents in 2024
Notes: Navigating the Shifting Sands: Is Enterprise Software Facing a Secular Sentiment Change?
Summary
* Investor sentiment toward enterprise software is softening, raising the question of