Equity Research
Updates: Rubrik - Building a Data-Centric Cyber Resilience Moat (Pt.2)
Notes: Incumbents vs. AI-Natives: Who Wins the Next Software Cycle?
Summary
* The AI narrative has swung from favoring SaaS incumbents in 2024
Li Auto's Competitive Edge in UX, Autonomous Driving, Range Innovation, and Vertical Integration
Summary
* Li Auto has carved out a differentiated middle-ground strategy by combining
Trump’s Trade Reset and the Hidden Tailwinds for Tech
Summary
* Trump’s aggressive tariff agenda is creating strategic optionality for the
Convequity's Bi-Annual Review (Pt.2)
Summary
* Klaviyo is evolving into an AI-native engagement platform, with recent churn
Themes - DeepSeek, Kimi And AI Efficiency Paradigm Shift (Pt.2)
Summary
* DeepSeek has multifold lower opex and cluster costs than Western rivals,
Notes - Palantir's TAM, Terminal Revenue Potential, & Valuation
Notes - DeepSeek Supply Shock Yet To Come
Summary
* DeepSeek introduces a cost-effective training and inference architecture that could reduce
Notes: MITRE ATT&CK Round 6 Results - SentinelOne Still Leads, Palo Alto Still Underappreciated, Microsoft Okay, & Consolidation Continues
Summary
* The MITRE ATT&CK Round 6 results highlight the performance
Notes - SNOW New CEO & Strategy Review
Summary
* Frank Slootman's leadership has long been viewed as critical
