Notes - Palantir's TAM, Terminal Revenue Potential, & Valuation

Part 1 mapped agentic disruption across SaaS with provisional scores. Part 2 deep-dives PLTR, DDOG, and NET: who owns the agent layer, who is durable plumbing agents pay for, and who is more exposed — so investors can see structural winners more clearly.

Part 2 of the rebalance deepens the focus on power electronics for 800V DC architectures, sharpens photonics conviction around hybrid bonding and space optics, and refines the neocloud and software allocations toward the highest-asymmetry names in the AI value chain.

In our latest quarterly review, we rotate toward under-appreciated capacity resolvers across foundry, back-end, photonics, and power as the AI buildout enters its next phase.