We believe that investors are underappreciating the breadth and depth of Alphabet’s AI monetization and the rapid upcoming growth in Google Cloud.

Concerns about equity sales to finance AI investments have pressured shares.

We see the company’s momentum in its core advertising business, as well as adoption of Muse, as early signals that the firm’s AI playbook is working.

We’ll be watching Muse agent adoption, revenue growth, and more.

Frontier AI labs face a three-pronged set of challenges.

Leading AI labs are building economic moats to stave off commodification threats.

The market’s negative reaction to the announcement signals that investors, much like us, are not super excited about Meta’s prospects in the...

Trading at an 18% discount, this wide-moat stock is a rare find.

We reiterate our fair value estimate for wide-moat Meta and view the after-market selloff as an overreaction

We maintain our fair value estimate for wide-moat Alphabet.