Tech Stocks
We recently added back Microsoft as a LTBH position and we are now adding Alphabet as our second FAANG.
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In this report, we will unpack the current macro-backdrop. We will explain why this breakout in yields matters, why the U.S. Dollar remains the key, and why growth in the economy should put a floor under any extended period of volatility.
Agentic AI is squeezing SaaS gross margins at ServiceNow, Microsoft and HubSpot. See which software stocks win with usage-based pricing and which fall behind.
Nvidia’s pace of growth in the Data Center segment has been nothing short of remarkable. Data Center revenue reached $89 billion in Q2 FY27, up nearly 9x over the last three years. Meanwhile, Nvidia’s total revenue is expected to surpass the $100 billion milestone next quarter. Despite these strong numbers, calling Nvidia a semiconductor company no longer captures what it is building. Nvidia is now moving towards building an agentic-focused enterprise AI stack, with the recent launch of its Open Agent Safety Platform on September 28. In partnership with over 100 ecosystem companies, including Anthropic, Microsoft, and Salesforce, this high-profile launch was for a software and infrastructure security stack designed to govern autonomous AI agents, and not for the release of a next-generation chip conventionally associated with the company. Long-term investors should look out for whether Nvidia’s enterprise AI strategy establishes a foundational operating system that could shape how next-generation computing evolves.
