Only change since the last update: sold $XTIA today after US market open. Nothing else touched.

$SNOW completly crushed earnings. They raised guidance. Stock plus 37% in after hour tradings. SaaS is not dead ;)

So SaaS is not dead after all?! SaaS is not just some software in the browser and rather a business model. Subscription. Continuous improvement. Hosted delivery. Vendor accountability. Security, compliance, uptime, support, roadmap, integrations, workflows, permissions, auditability. AI does not magically remove the need for that. If anything, it makes the need bigger. Because now every enterprise suddenly wants AI in every process, but you still need systems of record. You need governance. You need roles and rights. You need logs. You need approvals. You need certifications. You need someone accountable when stuff breaks. That is literally what enterprise software is for. AI will compress bad SaaS. It will expose weak products. It will make bloated workflows look stupid. Nobody who has ever sat in an audit, run an ERP process, owned ITSM, dealt with ISO, security, finance, procurement or customer operations believes you are going to vibecode the operating backbone of a company and call it a day. This is why names like $NOW, $PLTR, $DDOG, $CRWD, $ZS and $TEAM keep mattering. AI does not remove the need for enterprise software. It increases the need for governed workflows, observability, security, auditability and systems of record.