The AI development stack includes an array of software companies that provide critical tools to AI development and deployment. These enablers provide software for observability, MLOps, data infrastructure, security and EDA (Electronic Design Automation).

Company

Price & Valuation

FV & Narrative

Valuation

Growth

Analyst Target

CRWD

CrowdStrike Holdings

US$227.96n/a

19.8%7D

24.7%3M

The author hasn't set a fair value for CRWD

SNPS

Synopsys

US$464.89n/a

16.8%7D

-2.3%3M

The author hasn't set a fair value for SNPS

FROG

JFrog

US$104.03n/a

15.9%7D

30.9%3M

The author hasn't set a fair value for FROG

CDNS

Cadence Design Systems

US$347.554.9% overvalued

10.8%7D

-7.3%3M

US$331.4

27 Aug

US-China Frictions And Open-Source Trends Will Dampen EDA Prospects

TWLO

Twilio

US$241.34n/a

9.8%7D

26.6%3M

The author hasn't set a fair value for TWLO

Dynatrace

US$53.43n/a

8.6%7D

25.5%3M

The author hasn't set a fair value for DT

TEAM

Atlassian

US$185.62n/a

6.1%7D

72.5%3M

The author hasn't set a fair value for TEAM

GTLB

GitLab

US$44.81n/a

6.5%7D

44.3%3M

The author hasn't set a fair value for GTLB

SentinelOne

US$22.71n/a

8.5%7D

37.2%3M

The author hasn't set a fair value for S

PLTR

Palantir Technologies

US$185.93n/a

6.9%7D

18.8%3M

The author hasn't set a fair value for PLTR

NET

Cloudflare

US$308.23n/a

10.5%7D

27.5%3M

The author hasn't set a fair value for NET

DDOG

Datadog

US$242.93n/a

4.5%7D

-1.8%3M

The author hasn't set a fair value for DDOG

Zscaler

US$187.30n/a

7.1%7D

34.0%3M

The author hasn't set a fair value for ZS

MDB

MongoDB

US$440.58n/a

4.8%7D

31.3%3M

The author hasn't set a fair value for MDB

SNOW

Snowflake

US$329.11n/a

2.4%7D

28.8%3M

The author hasn't set a fair value for SNOW

ESTC

Elastic

US$83.74n/a

-2.5%7D

29.4%3M

The author hasn't set a fair value for ESTC

Company

Price & Valuation

FV & Narrative

Valuation

Growth

Analyst Target

CRWD

CrowdStrike Holdings

19.8%7D

24.7%3M

US$227.96

n/a

The author hasn't set a fair value for CRWD

PS 43x

E 46.2%

US$224.27

SNPS

Synopsys

16.8%7D

-2.3%3M

US$464.89

n/a

The author hasn't set a fair value for SNPS

PE 82.8x

E 25.8%

US$544.97

FROG

JFrog

15.9%7D

30.9%3M

US$104.03

n/a

The author hasn't set a fair value for FROG

PS 21.4x

E 48.8%

US$112.00

CDNS

Cadence Design Systems

10.8%7D

-7.3%3M

US$347.55

4.9% overvalued

US$331.4

27 Aug

US-China Frictions And Open-Source Trends Will Dampen EDA Prospects

PE 69.5x

E 12.6%

US$403.12

TWLO

Twilio

9.8%7D

26.6%3M

US$241.34

n/a

The author hasn't set a fair value for TWLO

PE 32.3x

E -29.4%

US$252.08

Dynatrace

8.6%7D

25.5%3M

US$53.43

n/a

The author hasn't set a fair value for DT

PE 102x

E 26.3%

US$58.88

TEAM

Atlassian

6.1%7D

72.5%3M

US$185.62

n/a

The author hasn't set a fair value for TEAM

PS 7.1x

E 42.6%

US$189.61

GTLB

GitLab

6.5%7D

44.3%3M

US$44.81

n/a

The author hasn't set a fair value for GTLB

PS 7.5x

E 12.7%

US$38.48

SentinelOne

8.5%7D

37.2%3M

US$22.71

n/a

The author hasn't set a fair value for S

PS 7.4x

E 27.0%

US$21.71

PLTR

Palantir Technologies

6.9%7D

18.8%3M

US$185.93

n/a

The author hasn't set a fair value for PLTR

PE 148.1x

E 32.9%

US$191.68

NET

Cloudflare

10.5%7D

27.5%3M

US$308.23

n/a

The author hasn't set a fair value for NET

PS 43.7x

E 48.1%

US$333.55

DDOG

Datadog

4.5%7D

-1.8%3M

US$242.93

n/a

The author hasn't set a fair value for DDOG

PS 22x

E 28.4%

US$285.18

Zscaler

7.1%7D

34.0%3M

US$187.30

n/a

The author hasn't set a fair value for ZS

PS 9.5x

E 46.7%

US$198.88

MDB

MongoDB

4.8%7D

31.3%3M

US$440.58

n/a

The author hasn't set a fair value for MDB

PS 13.6x

E 50.0%

US$441.69

SNOW

Snowflake

2.4%7D

28.8%3M

US$329.11

n/a

The author hasn't set a fair value for SNOW

PS 22.7x

E 55.9%

US$327.85

ESTC

Elastic

-2.5%7D

29.4%3M

US$83.74

n/a

The author hasn't set a fair value for ESTC

PE 23.7x

E -29.0%

US$84.41

Company	Price & Valuation	FV & Narrative	Valuation	Growth	Analyst Target
CRWD CrowdStrike Holdings US$227.96n/aintrinsic discount 19.8%7D 24.7%3M The author hasn't set a fair value for CRWD
SNPS Synopsys US$464.89n/aintrinsic discount 16.8%7D -2.3%3M The author hasn't set a fair value for SNPS
FROG JFrog US$104.03n/aintrinsic discount 15.9%7D 30.9%3M The author hasn't set a fair value for FROG
CDNS Cadence Design Systems US$347.554.9% overvalued intrinsic discount 10.8%7D -7.3%3M A US$331.4author fair value 27 Augauthor updated this narrative US-China Frictions And Open-Source Trends Will Dampen EDA Prospects
TWLO Twilio US$241.34n/aintrinsic discount 9.8%7D 26.6%3M The author hasn't set a fair value for TWLO
DT Dynatrace US$53.43n/aintrinsic discount 8.6%7D 25.5%3M The author hasn't set a fair value for DT
TEAM Atlassian US$185.62n/aintrinsic discount 6.1%7D 72.5%3M The author hasn't set a fair value for TEAM
GTLB GitLab US$44.81n/aintrinsic discount 6.5%7D 44.3%3M The author hasn't set a fair value for GTLB
S SentinelOne US$22.71n/aintrinsic discount 8.5%7D 37.2%3M The author hasn't set a fair value for S
PLTR Palantir Technologies US$185.93n/aintrinsic discount 6.9%7D 18.8%3M The author hasn't set a fair value for PLTR
NET Cloudflare US$308.23n/aintrinsic discount 10.5%7D 27.5%3M The author hasn't set a fair value for NET
DDOG Datadog US$242.93n/aintrinsic discount 4.5%7D -1.8%3M The author hasn't set a fair value for DDOG
ZS Zscaler US$187.30n/aintrinsic discount 7.1%7D 34.0%3M The author hasn't set a fair value for ZS
MDB MongoDB US$440.58n/aintrinsic discount 4.8%7D 31.3%3M The author hasn't set a fair value for MDB
SNOW Snowflake US$329.11n/aintrinsic discount 2.4%7D 28.8%3M The author hasn't set a fair value for SNOW
ESTC Elastic US$83.74n/aintrinsic discount -2.5%7D 29.4%3M The author hasn't set a fair value for ESTC

AI Enablers and Infrastructure Software

Watching

US-China Frictions And Open-Source Trends Will Dampen EDA Prospects

Watching

US-China Frictions And Open-Source Trends Will Dampen EDA Prospects

Company	Price & Valuation	FV & Narrative	Valuation	Growth	Analyst Target
CRWD CrowdStrike Holdings 19.8%7D 24.7%3M	US$227.96 n/aintrinsic discount	The author hasn't set a fair value for CRWD	PS 43x	E 46.2%	US$224.27
SNPS Synopsys 16.8%7D -2.3%3M	US$464.89 n/aintrinsic discount	The author hasn't set a fair value for SNPS	PE 82.8x	E 25.8%	US$544.97
FROG JFrog 15.9%7D 30.9%3M	US$104.03 n/aintrinsic discount	The author hasn't set a fair value for FROG	PS 21.4x	E 48.8%	US$112.00
CDNS Cadence Design Systems 10.8%7D -7.3%3M	US$347.55 4.9% overvalued intrinsic discount	A US$331.4author fair value 27 Augauthor updated this narrative US-China Frictions And Open-Source Trends Will Dampen EDA Prospects	PE 69.5x	E 12.6%	US$403.12
TWLO Twilio 9.8%7D 26.6%3M	US$241.34 n/aintrinsic discount	The author hasn't set a fair value for TWLO	PE 32.3x	E -29.4%	US$252.08
DT Dynatrace 8.6%7D 25.5%3M	US$53.43 n/aintrinsic discount	The author hasn't set a fair value for DT	PE 102x	E 26.3%	US$58.88
TEAM Atlassian 6.1%7D 72.5%3M	US$185.62 n/aintrinsic discount	The author hasn't set a fair value for TEAM	PS 7.1x	E 42.6%	US$189.61
GTLB GitLab 6.5%7D 44.3%3M	US$44.81 n/aintrinsic discount	The author hasn't set a fair value for GTLB	PS 7.5x	E 12.7%	US$38.48
S SentinelOne 8.5%7D 37.2%3M	US$22.71 n/aintrinsic discount	The author hasn't set a fair value for S	PS 7.4x	E 27.0%	US$21.71
PLTR Palantir Technologies 6.9%7D 18.8%3M	US$185.93 n/aintrinsic discount	The author hasn't set a fair value for PLTR	PE 148.1x	E 32.9%	US$191.68
NET Cloudflare 10.5%7D 27.5%3M	US$308.23 n/aintrinsic discount	The author hasn't set a fair value for NET	PS 43.7x	E 48.1%	US$333.55
DDOG Datadog 4.5%7D -1.8%3M	US$242.93 n/aintrinsic discount	The author hasn't set a fair value for DDOG	PS 22x	E 28.4%	US$285.18
ZS Zscaler 7.1%7D 34.0%3M	US$187.30 n/aintrinsic discount	The author hasn't set a fair value for ZS	PS 9.5x	E 46.7%	US$198.88
MDB MongoDB 4.8%7D 31.3%3M	US$440.58 n/aintrinsic discount	The author hasn't set a fair value for MDB	PS 13.6x	E 50.0%	US$441.69
SNOW Snowflake 2.4%7D 28.8%3M	US$329.11 n/aintrinsic discount	The author hasn't set a fair value for SNOW	PS 22.7x	E 55.9%	US$327.85
ESTC Elastic -2.5%7D 29.4%3M	US$83.74 n/aintrinsic discount	The author hasn't set a fair value for ESTC	PE 23.7x	E -29.0%	US$84.41