Investors should consider buying Palantir (PLTR) to capitalize on its historic acceleration driven by enterprise large language model applications and innovative outcome-based pricing models. Avoid prosumer creative software competitors, as they face severe margin compression and existential threats from AI-native chat interfaces. Look to Datadog (DDOG) as a safer infrastructure play that benefits directly from surging compute demand without facing application-level AI disruption risks. Take advantage of recent pullbacks in enterprise-focused workflow platforms like Figma to accumulate shares, as their sticky collaboration tools insulate them better than consumer alternatives. Finally, focus on traditional commerce platforms like Shopify (SHOP) to capture strong fundamental revenue growth independent of tech disruption narratives.

Adobe (ADBE)

• The company generates $23 billion in revenue, growing at 12%, and trading at roughly three to four times revenue.
• Faces a major meta-question regarding whether AI will be a feature they can successfully incorporate or a disruptive technology that makes them obsolete.

Takeaways

• Watch closely whether legacy creative software companies can successfully adapt to AI-native alternatives or if they risk losing market share to agentic tools.

Canva (Private)

• A large privately held creative suite company that reported $3 billion in gap revenue last year.
• Slashed its 2026 growth expectations by a third, moving from a 30% growth rate down to 20%.
• High AI serving costs are significantly impacting gross margins and compressing growth, as using frontier models to subsidize cheap AI features proved too expensive.
• Facing intense existential threats in the prosumer market as users increasingly rely on native AI chat interfaces (like ChatGPT or Claude) for tasks like generating flyers and invitations.
• Valued by market participants on the podcast around $12 billion based on a 20% growth rate and roughly $4 billion ARR, though private valuation marks face downward pressure due to these operational challenges.

Takeaways

• Prosumer software companies face severe exposure to AI native tools because consumer real estate is shifting toward universal chat interfaces.
• Investors should maintain healthy skepticism regarding private market valuations and marks when growth slows and structural platform shifts occur.

Figma (Private/Public Context)

• Generates $1.4 billion in revenue, growing at 40%, making it the fastest-growing among major creative software peers.
• Suffered a 20% stock pullback when reporting earnings because management explicitly chose to burn tokens and absorb gross margin impairment to support agentic product usage.
• Better insulated than prosumer competitors because it targets enterprise workflows, collaboration, and bureaucracy rather than isolated consumer tasks.

Takeaways

• Enterprise-focused software companies with complex workflow coordination face less immediate existential risk from AI compared to prosumer tools, though profit margins may still suffer during the transition.

Palantir (PLTR)

• Exhibited historic acceleration, going from 18% growth to 98% growth by heavily pivoting toward enterprise large language model applications.
• Successfully deployed outcome-based pricing models (asking for multi-billion dollar contracts tied to guaranteed cost savings or revenue generation) backed by field-deployed Forward Deployed Engineers (FDEs).

Takeaways

• Companies that aggressively pivot toward AI with flexible, outcome-based pricing and technical implementation teams can achieve unprecedented acceleration during platform shifts.

Atlassian (TEAM)

• Delivered an exceptional quarter with massive stock outperformance, proving that executing on core product metrics can successfully defy market skepticism.
• Implemented tighter monetization strategies, such as restricting free Loom seats and pushing features into higher-priced editions, to protect growth and revenue.

Takeaways

• Delivering strong revenue growth and meeting fundamental business targets remains the most reliable way for tech companies to overcome market fears of AI obsolescence.

Shopify (SHOP)

• Blrew out its recent quarterly earnings report, demonstrating robust commerce momentum independent of AI-specific hype cycles.

Takeaways

• Commerce platforms and non-AI dependent software sectors continue to offer strong fundamental investment opportunities away from tech disruption narratives.

Datadog (DDOG)

• Operates in observability and infrastructure, benefiting directly from the massive infrastructure boom as vendors buy significantly more monitoring tools to support AI workloads.
• Traded down slightly as some high-profile AI infrastructure customers optimized spending, shifting its forward revenue multiple.

Takeaways

• Infrastructure providers generally face lower existential risk from AI than application software because their core offerings scale directly with increased compute demand.

Whatnot (Private)

• Raised a $545 million funding round at a $20 billion valuation.
• Operates a live-shopping model (digital QVC) that is scaling rapidly, with gross merchandise volume (GMV) growing from $8 billion last year to $16 billion, capturing a 12% take rate.

Takeaways

• Non-AI consumer sectors like live commerce and online shopping continue to attract massive private capital and deliver strong fundamental business growth.