Asks about AI threat to software companies and where value is found.
Dani Burger
Holden Spaht
Sees so much opportunity in AI; SAS and AI not different things; public markets not discerning about software attributes; exceptional buying opportunity.
Asks if AI startups or foundational models will disrupt existing software.
Dani Burger
Holden Spaht
Model companies great at data science but not understanding specific business processes; combination of domain knowledge and AI wins.
Asks about legacy software companies in portfolio needing adjustment for AI.
Dani Burger
Holden Spaht
Portfolio companies had exceptional Q4s, exceeding forecasts; 95% index well in AI world due to quality revenue.
Asks about narrative that companies will spend less on software due to AI budgets.
Dani Burger
Holden Spaht
No clear line between AI and software; AI is software if done right; companies accelerating with AI part of story.