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

NET

Cloudflare

US$275.80n/a

13.8%7D

65.2%3M

The author hasn't set a fair value for NET

TEAM

Atlassian

US$90.71n/a

8.2%7D

58.7%3M

The author hasn't set a fair value for TEAM

SentinelOne

US$18.86n/a

7.7%7D

58.0%3M

The author hasn't set a fair value for S

ESTC

Elastic

US$62.06n/a

6.9%7D

43.3%3M

The author hasn't set a fair value for ESTC

GTLB

GitLab

US$33.86n/a

5.6%7D

74.4%3M

The author hasn't set a fair value for GTLB

TWLO

Twilio

US$218.60n/a

4.4%7D

85.8%3M

The author hasn't set a fair value for TWLO

CDNS

Cadence Design Systems

US$385.9522.5% overvalued

3.4%7D

45.3%3M

US$315.1

13 May

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

DDOG

Datadog

US$269.00n/a

3.3%7D

155.3%3M

The author hasn't set a fair value for DDOG

SNOW

Snowflake

US$267.49n/a

2.8%7D

120.9%3M

The author hasn't set a fair value for SNOW

CRWD

CrowdStrike Holdings

US$198.40n/a

2.3%7D

109.4%3M

The author hasn't set a fair value for CRWD

MDB

MongoDB

US$362.87n/a

2.3%7D

60.6%3M

The author hasn't set a fair value for MDB

SNPS

Synopsys

US$443.37n/a

1.4%7D

13.0%3M

The author hasn't set a fair value for SNPS

Dynatrace

US$45.23n/a

1.0%7D

39.8%3M

The author hasn't set a fair value for DT

FROG

JFrog

US$95.50n/a

0.7%7D

121.0%3M

The author hasn't set a fair value for FROG

Zscaler

US$147.12n/a

-0.1%7D

24.6%3M

The author hasn't set a fair value for ZS

PLTR

Palantir Technologies

US$129.04n/a

-0.2%7D

0.8%3M

The author hasn't set a fair value for PLTR

Company

Price & Valuation

FV & Narrative

Valuation

Growth

Analyst Target

NET

Cloudflare

13.8%7D

65.2%3M

US$275.80

n/a

The author hasn't set a fair value for NET

PS 41.9x

E 39.6%

US$246.07

TEAM

Atlassian

8.2%7D

58.7%3M

US$90.71

n/a

The author hasn't set a fair value for TEAM

PS 3.7x

E 47.4%

US$139.87

SentinelOne

7.7%7D

58.0%3M

US$18.86

n/a

The author hasn't set a fair value for S

PS 6.2x

E 27.0%

US$19.35

ESTC

Elastic

6.9%7D

43.3%3M

US$62.06

n/a

The author hasn't set a fair value for ESTC

PE 17.5x

E -29.0%

US$74.26

GTLB

GitLab

5.6%7D

74.4%3M

US$33.86

n/a

The author hasn't set a fair value for GTLB

PS 5.7x

E 3.0%

US$33.61

TWLO

Twilio

4.4%7D

85.8%3M

US$218.60

n/a

The author hasn't set a fair value for TWLO

PS 6.3x

E 33.1%

US$202.50

CDNS

Cadence Design Systems

3.4%7D

45.3%3M

US$385.95

22.5% overvalued

US$315.1

13 May

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

PE 90.9x

E 14.9%

US$388.78

DDOG

Datadog

3.3%7D

155.3%3M

US$269.00

n/a

The author hasn't set a fair value for DDOG

PS 26.1x

E 33.0%

US$247.68

SNOW

Snowflake

2.8%7D

120.9%3M

US$267.49

n/a

The author hasn't set a fair value for SNOW

PS 18.4x

E 50.5%

US$292.53

CRWD

CrowdStrike Holdings

2.3%7D

109.4%3M

US$198.40

n/a

The author hasn't set a fair value for CRWD

PS 39.7x

E 44.9%

US$183.81

MDB

MongoDB

2.3%7D

60.6%3M

US$362.87

n/a

The author hasn't set a fair value for MDB

PS 11.2x

E 50.5%

US$394.68

SNPS

Synopsys

1.4%7D

13.0%3M

US$443.37

n/a

The author hasn't set a fair value for SNPS

PE 109.8x

E 30.2%

US$563.74

Dynatrace

1.0%7D

39.8%3M

US$45.23

n/a

The author hasn't set a fair value for DT

PE 81x

E 24.1%

US$45.48

FROG

JFrog

0.7%7D

121.0%3M

US$95.50

n/a

The author hasn't set a fair value for FROG

PS 20.5x

E 37.2%

US$85.52

Zscaler

-0.1%7D

24.6%3M

US$147.12

n/a

The author hasn't set a fair value for ZS

PS 7.5x

E 55.0%

US$192.58

PLTR

Palantir Technologies

-0.2%7D

0.8%3M

US$129.04

n/a

The author hasn't set a fair value for PLTR

PE 135.6x

E 31.9%

US$183.12

Company	Price & Valuation	FV & Narrative	Valuation	Growth	Analyst Target
NET Cloudflare US$275.80n/aintrinsic discount 13.8%7D 65.2%3M The author hasn't set a fair value for NET
TEAM Atlassian US$90.71n/aintrinsic discount 8.2%7D 58.7%3M The author hasn't set a fair value for TEAM
S SentinelOne US$18.86n/aintrinsic discount 7.7%7D 58.0%3M The author hasn't set a fair value for S
ESTC Elastic US$62.06n/aintrinsic discount 6.9%7D 43.3%3M The author hasn't set a fair value for ESTC
GTLB GitLab US$33.86n/aintrinsic discount 5.6%7D 74.4%3M The author hasn't set a fair value for GTLB
TWLO Twilio US$218.60n/aintrinsic discount 4.4%7D 85.8%3M The author hasn't set a fair value for TWLO
CDNS Cadence Design Systems US$385.9522.5% overvalued intrinsic discount 3.4%7D 45.3%3M AN US$315.1author fair value 13 Mayauthor updated this narrative US-China Frictions And Open-Source Trends Will Dampen EDA Prospects
DDOG Datadog US$269.00n/aintrinsic discount 3.3%7D 155.3%3M The author hasn't set a fair value for DDOG
SNOW Snowflake US$267.49n/aintrinsic discount 2.8%7D 120.9%3M The author hasn't set a fair value for SNOW
CRWD CrowdStrike Holdings US$198.40n/aintrinsic discount 2.3%7D 109.4%3M The author hasn't set a fair value for CRWD
MDB MongoDB US$362.87n/aintrinsic discount 2.3%7D 60.6%3M The author hasn't set a fair value for MDB
SNPS Synopsys US$443.37n/aintrinsic discount 1.4%7D 13.0%3M The author hasn't set a fair value for SNPS
DT Dynatrace US$45.23n/aintrinsic discount 1.0%7D 39.8%3M The author hasn't set a fair value for DT
FROG JFrog US$95.50n/aintrinsic discount 0.7%7D 121.0%3M The author hasn't set a fair value for FROG
ZS Zscaler US$147.12n/aintrinsic discount -0.1%7D 24.6%3M The author hasn't set a fair value for ZS
PLTR Palantir Technologies US$129.04n/aintrinsic discount -0.2%7D 0.8%3M The author hasn't set a fair value for PLTR

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
NET Cloudflare 13.8%7D 65.2%3M	US$275.80 n/aintrinsic discount	The author hasn't set a fair value for NET	PS 41.9x	E 39.6%	US$246.07
TEAM Atlassian 8.2%7D 58.7%3M	US$90.71 n/aintrinsic discount	The author hasn't set a fair value for TEAM	PS 3.7x	E 47.4%	US$139.87
S SentinelOne 7.7%7D 58.0%3M	US$18.86 n/aintrinsic discount	The author hasn't set a fair value for S	PS 6.2x	E 27.0%	US$19.35
ESTC Elastic 6.9%7D 43.3%3M	US$62.06 n/aintrinsic discount	The author hasn't set a fair value for ESTC	PE 17.5x	E -29.0%	US$74.26
GTLB GitLab 5.6%7D 74.4%3M	US$33.86 n/aintrinsic discount	The author hasn't set a fair value for GTLB	PS 5.7x	E 3.0%	US$33.61
TWLO Twilio 4.4%7D 85.8%3M	US$218.60 n/aintrinsic discount	The author hasn't set a fair value for TWLO	PS 6.3x	E 33.1%	US$202.50
CDNS Cadence Design Systems 3.4%7D 45.3%3M	US$385.95 22.5% overvalued intrinsic discount	AN US$315.1author fair value 13 Mayauthor updated this narrative US-China Frictions And Open-Source Trends Will Dampen EDA Prospects	PE 90.9x	E 14.9%	US$388.78
DDOG Datadog 3.3%7D 155.3%3M	US$269.00 n/aintrinsic discount	The author hasn't set a fair value for DDOG	PS 26.1x	E 33.0%	US$247.68
SNOW Snowflake 2.8%7D 120.9%3M	US$267.49 n/aintrinsic discount	The author hasn't set a fair value for SNOW	PS 18.4x	E 50.5%	US$292.53
CRWD CrowdStrike Holdings 2.3%7D 109.4%3M	US$198.40 n/aintrinsic discount	The author hasn't set a fair value for CRWD	PS 39.7x	E 44.9%	US$183.81
MDB MongoDB 2.3%7D 60.6%3M	US$362.87 n/aintrinsic discount	The author hasn't set a fair value for MDB	PS 11.2x	E 50.5%	US$394.68
SNPS Synopsys 1.4%7D 13.0%3M	US$443.37 n/aintrinsic discount	The author hasn't set a fair value for SNPS	PE 109.8x	E 30.2%	US$563.74
DT Dynatrace 1.0%7D 39.8%3M	US$45.23 n/aintrinsic discount	The author hasn't set a fair value for DT	PE 81x	E 24.1%	US$45.48
FROG JFrog 0.7%7D 121.0%3M	US$95.50 n/aintrinsic discount	The author hasn't set a fair value for FROG	PS 20.5x	E 37.2%	US$85.52
ZS Zscaler -0.1%7D 24.6%3M	US$147.12 n/aintrinsic discount	The author hasn't set a fair value for ZS	PS 7.5x	E 55.0%	US$192.58
PLTR Palantir Technologies -0.2%7D 0.8%3M	US$129.04 n/aintrinsic discount	The author hasn't set a fair value for PLTR	PE 135.6x	E 31.9%	US$183.12