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

MDB

MongoDB

US$337.48n/a

13.2%7D

28.1%3M

The author hasn't set a fair value for MDB

ESTC

Elastic

US$65.79n/a

12.1%7D

35.3%3M

The author hasn't set a fair value for ESTC

GTLB

GitLab

US$34.51n/a

10.3%7D

43.5%3M

The author hasn't set a fair value for GTLB

SNOW

Snowflake

US$293.28n/a

9.4%7D

108.0%3M

The author hasn't set a fair value for SNOW

DDOG

Datadog

US$267.97n/a

8.6%7D

90.7%3M

The author hasn't set a fair value for DDOG

Dynatrace

US$44.32n/a

6.5%7D

17.8%3M

The author hasn't set a fair value for DT

NET

Cloudflare

US$278.98n/a

6.4%7D

28.3%3M

The author hasn't set a fair value for NET

Zscaler

US$151.20n/a

6.2%7D

8.1%3M

The author hasn't set a fair value for ZS

TEAM

Atlassian

US$101.02n/a

5.4%7D

9.4%3M

The author hasn't set a fair value for TEAM

SentinelOne

US$19.06n/a

5.1%7D

27.9%3M

The author hasn't set a fair value for S

CDNS

Cadence Design Systems

US$340.027.9% overvalued

4.2%7D

-0.3%3M

US$315.1

13 May

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

CRWD

CrowdStrike Holdings

US$190.86n/a

4.1%7D

67.6%3M

The author hasn't set a fair value for CRWD

SNPS

Synopsys

US$388.76n/a

4.1%7D

-20.5%3M

The author hasn't set a fair value for SNPS

TWLO

Twilio

US$197.35n/a

3.1%7D

7.6%3M

The author hasn't set a fair value for TWLO

PLTR

Palantir Technologies

US$123.06n/a

0.1%7D

-14.6%3M

The author hasn't set a fair value for PLTR

FROG

JFrog

US$79.79n/a

-0.5%7D

59.9%3M

The author hasn't set a fair value for FROG

Company

Price & Valuation

FV & Narrative

Valuation

Growth

Analyst Target

MDB

MongoDB

13.2%7D

28.1%3M

US$337.48

n/a

The author hasn't set a fair value for MDB

PS 10.4x

E 50.5%

US$396.21

ESTC

Elastic

12.1%7D

35.3%3M

US$65.79

n/a

The author hasn't set a fair value for ESTC

PE 18.6x

E -29.0%

US$74.00

GTLB

GitLab

10.3%7D

43.5%3M

US$34.51

n/a

The author hasn't set a fair value for GTLB

PS 5.8x

E 3.0%

US$34.13

SNOW

Snowflake

9.4%7D

108.0%3M

US$293.28

n/a

The author hasn't set a fair value for SNOW

PS 20.2x

E 53.2%

US$298.23

DDOG

Datadog

8.6%7D

90.7%3M

US$267.97

n/a

The author hasn't set a fair value for DDOG

PS 26x

E 33.0%

US$269.97

Dynatrace

6.5%7D

17.8%3M

US$44.32

n/a

The author hasn't set a fair value for DT

PE 79.1x

E 24.1%

US$47.61

NET

Cloudflare

6.4%7D

28.3%3M

US$278.98

n/a

The author hasn't set a fair value for NET

PS 42.5x

E 39.6%

US$262.26

Zscaler

6.2%7D

8.1%3M

US$151.20

n/a

The author hasn't set a fair value for ZS

PS 7.7x

E 48.2%

US$192.55

TEAM

Atlassian

5.4%7D

9.4%3M

US$101.02

n/a

The author hasn't set a fair value for TEAM

PS 4.1x

E 47.6%

US$140.33

SentinelOne

5.1%7D

27.9%3M

US$19.06

n/a

The author hasn't set a fair value for S

PS 6.2x

E 27.0%

US$19.68

CDNS

Cadence Design Systems

4.2%7D

-0.3%3M

US$340.02

7.9% overvalued

US$315.1

13 May

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

PE 68x

E 12.5%

US$403.67

CRWD

CrowdStrike Holdings

4.1%7D

67.6%3M

US$190.86

n/a

The author hasn't set a fair value for CRWD

PS 38.2x

E 44.2%

US$193.13

SNPS

Synopsys

4.1%7D

-20.5%3M

US$388.76

n/a

The author hasn't set a fair value for SNPS

PE 96.3x

E 30.3%

US$564.43

TWLO

Twilio

3.1%7D

7.6%3M

US$197.35

n/a

The author hasn't set a fair value for TWLO

PS 5.6x

E 33.1%

US$210.72

PLTR

Palantir Technologies

0.1%7D

-14.6%3M

US$123.06

n/a

The author hasn't set a fair value for PLTR

PE 129.3x

E 31.9%

US$182.20

FROG

JFrog

-0.5%7D

59.9%3M

US$79.79

n/a

The author hasn't set a fair value for FROG

PS 17.2x

E 37.1%

US$92.62

Company	Price & Valuation	FV & Narrative	Valuation	Growth	Analyst Target
MDB MongoDB US$337.48n/aintrinsic discount 13.2%7D 28.1%3M The author hasn't set a fair value for MDB
ESTC Elastic US$65.79n/aintrinsic discount 12.1%7D 35.3%3M The author hasn't set a fair value for ESTC
GTLB GitLab US$34.51n/aintrinsic discount 10.3%7D 43.5%3M The author hasn't set a fair value for GTLB
SNOW Snowflake US$293.28n/aintrinsic discount 9.4%7D 108.0%3M The author hasn't set a fair value for SNOW
DDOG Datadog US$267.97n/aintrinsic discount 8.6%7D 90.7%3M The author hasn't set a fair value for DDOG
DT Dynatrace US$44.32n/aintrinsic discount 6.5%7D 17.8%3M The author hasn't set a fair value for DT
NET Cloudflare US$278.98n/aintrinsic discount 6.4%7D 28.3%3M The author hasn't set a fair value for NET
ZS Zscaler US$151.20n/aintrinsic discount 6.2%7D 8.1%3M The author hasn't set a fair value for ZS
TEAM Atlassian US$101.02n/aintrinsic discount 5.4%7D 9.4%3M The author hasn't set a fair value for TEAM
S SentinelOne US$19.06n/aintrinsic discount 5.1%7D 27.9%3M The author hasn't set a fair value for S
CDNS Cadence Design Systems US$340.027.9% overvalued intrinsic discount 4.2%7D -0.3%3M AN US$315.1author fair value 13 Mayauthor updated this narrative US-China Frictions And Open-Source Trends Will Dampen EDA Prospects
CRWD CrowdStrike Holdings US$190.86n/aintrinsic discount 4.1%7D 67.6%3M The author hasn't set a fair value for CRWD
SNPS Synopsys US$388.76n/aintrinsic discount 4.1%7D -20.5%3M The author hasn't set a fair value for SNPS
TWLO Twilio US$197.35n/aintrinsic discount 3.1%7D 7.6%3M The author hasn't set a fair value for TWLO
PLTR Palantir Technologies US$123.06n/aintrinsic discount 0.1%7D -14.6%3M The author hasn't set a fair value for PLTR
FROG JFrog US$79.79n/aintrinsic discount -0.5%7D 59.9%3M The author hasn't set a fair value for FROG

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
MDB MongoDB 13.2%7D 28.1%3M	US$337.48 n/aintrinsic discount	The author hasn't set a fair value for MDB	PS 10.4x	E 50.5%	US$396.21
ESTC Elastic 12.1%7D 35.3%3M	US$65.79 n/aintrinsic discount	The author hasn't set a fair value for ESTC	PE 18.6x	E -29.0%	US$74.00
GTLB GitLab 10.3%7D 43.5%3M	US$34.51 n/aintrinsic discount	The author hasn't set a fair value for GTLB	PS 5.8x	E 3.0%	US$34.13
SNOW Snowflake 9.4%7D 108.0%3M	US$293.28 n/aintrinsic discount	The author hasn't set a fair value for SNOW	PS 20.2x	E 53.2%	US$298.23
DDOG Datadog 8.6%7D 90.7%3M	US$267.97 n/aintrinsic discount	The author hasn't set a fair value for DDOG	PS 26x	E 33.0%	US$269.97
DT Dynatrace 6.5%7D 17.8%3M	US$44.32 n/aintrinsic discount	The author hasn't set a fair value for DT	PE 79.1x	E 24.1%	US$47.61
NET Cloudflare 6.4%7D 28.3%3M	US$278.98 n/aintrinsic discount	The author hasn't set a fair value for NET	PS 42.5x	E 39.6%	US$262.26
ZS Zscaler 6.2%7D 8.1%3M	US$151.20 n/aintrinsic discount	The author hasn't set a fair value for ZS	PS 7.7x	E 48.2%	US$192.55
TEAM Atlassian 5.4%7D 9.4%3M	US$101.02 n/aintrinsic discount	The author hasn't set a fair value for TEAM	PS 4.1x	E 47.6%	US$140.33
S SentinelOne 5.1%7D 27.9%3M	US$19.06 n/aintrinsic discount	The author hasn't set a fair value for S	PS 6.2x	E 27.0%	US$19.68
CDNS Cadence Design Systems 4.2%7D -0.3%3M	US$340.02 7.9% 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 68x	E 12.5%	US$403.67
CRWD CrowdStrike Holdings 4.1%7D 67.6%3M	US$190.86 n/aintrinsic discount	The author hasn't set a fair value for CRWD	PS 38.2x	E 44.2%	US$193.13
SNPS Synopsys 4.1%7D -20.5%3M	US$388.76 n/aintrinsic discount	The author hasn't set a fair value for SNPS	PE 96.3x	E 30.3%	US$564.43
TWLO Twilio 3.1%7D 7.6%3M	US$197.35 n/aintrinsic discount	The author hasn't set a fair value for TWLO	PS 5.6x	E 33.1%	US$210.72
PLTR Palantir Technologies 0.1%7D -14.6%3M	US$123.06 n/aintrinsic discount	The author hasn't set a fair value for PLTR	PE 129.3x	E 31.9%	US$182.20
FROG JFrog -0.5%7D 59.9%3M	US$79.79 n/aintrinsic discount	The author hasn't set a fair value for FROG	PS 17.2x	E 37.1%	US$92.62