Theme
AI Applications
Enterprise software and platforms productizing AI for end-users.
0.408avg corr (252d)
5stocks
Weak co-movementStocks · key Fib levels
- CRWD$216.90last$433.00fib−49.9%vs fibanchored by Amazon Web Services · Goldman Sachs · Mercedes-Benz · Target · undisclosed Fortune 100 majority
- 2024-07-19 - Faulty Falcon sensor channel file crashed ~8.5M Windows hosts globally; Delta Air Lines claimed $500M operational impact, filed suit Oct 2024
- 2024-09 - Customer Commitment Package (CCP) launched: subscription credits + flexible commitments to retain affected accounts; ~$60M+ ARR drag absorbed across FY25-FY26
- 2024-11 - Falcon Flex usage-based licensing model crossed $1B account-value in Q3 FY25; converts module shelfware into in-quarter consumption
- 2025-03 - Q4 FY25 print: net-new ARR returned to YoY growth for first time since incident; ending ARR $4.24B (+23% YoY)
- 2025-Q1 FY26 - Charlotte AI agentic security GA'd; Falcon Identity + Falcon Cloud Security each crossed $1.3B ARR
- Ongoing - 8 of top 10 US banks, 7 of top 10 Fortune retailers, 65% of Fortune 100 are Falcon customers (per company disclosure)
- IBM$245.00last- fibanchored by Global banks & financial institutions · US Government · Telecom & large enterprises
- 2026-05-21 - US Commerce Dept letter of intent: ~$1B federal grant plus a minority government equity stake in IBM, part of a $2B national quantum package; jointly funds the "Anderon" 300mm quantum wafer foundry in Albany, NY ($1B CHIPS Act incentives + $1B IBM)
- 2026-05 - Project Lightwell: $5B and 20,000 engineers committed to securing open-source software at enterprise scale
- 2026-05 - >$10B five-year quantum commitment reaffirmed; fault-tolerant quantum computer targeted by 2029
- 2026-04-22 - Q1 2026 print: revenue $15.9B (+9% YoY); Software $7.05B (+11%, Red Hat +13%, Data +19%); Infrastructure $3.33B (+15%, IBM Z mainframe +51%); non-GAAP EPS $1.91 (vs $1.81 cons); FCF $2.2B; quarterly dividend raised to $1.69
- 2026-03-17 - Closed ~$11.6B all-cash acquisition of Confluent (CFLT) at $31/share, adding real-time data streaming to the Software segment; CFLT delisted from Nasdaq
- FY2025 - Revenue $67.5B (+6% YoY); net income from continuing ops $10.6B; free cash flow ~$14.7B
- 2026 guidance - >5% constant-currency revenue growth; free cash flow ~$1B higher YoY
- Snapshot 2026-05-30: price ~$296 (2026-05-29 close); mcap ~$278B (~938.5M sh); repriced from ~$222 (2026-05-20) on the quantum-funding catalyst
- PLTR$160.38last$137.00fib+17.1%vs fibanchored by US Department of Defense · US Intelligence Community · UK NHS · US Army · BP · Airbus · Stellantis · Cleveland Clinic
- May 2025 - DoD Maven Smart System ceiling raised to $480M (from $153M), 4-year expansion across Army/SOCOM/CENTCOM/INDOPACOM
- Apr 2025 - NATO adopts Maven Smart System for intelligence ops (first NATO-wide AI deployment)
- Q1 2025 - US Army TITAN ground-station program: PLTR is software prime under $178M Northrop $NOC contract
- 2024 - UK NHS Federated Data Platform: 5-year £330M deal (largest commercial Foundry win to date)
- 2024 - US Special Operations Command Mission Manager: $463M 5-year ceiling
- Q4 2025 - Anthropic + AWS partnership: Claude available natively inside AIP for US Gov customers
- SNOW$275.88last$134.00fib+105.9%vs fibanchored by AT&T · Capital One · Adobe · Pfizer · Western Union · Mastercard · BlackRock · Comcast · Instacart · Novartis
- 2024-06: Cortex AI GA - LLM functions (COMPLETE, SUMMARIZE, TRANSLATE) callable from SQL
- 2024-06: Polaris Catalog open-sourced - Iceberg REST catalog, Apache 2.0 license
- 2024-Q4: Snowpark Container Services GA - run any container against warehouse data
- 2025: Snowflake Intelligence + Cortex Agents - agentic workflows over enterprise data
- 2025: Partnership with $NVDA on NeMo + GPU-accelerated Cortex inference
- 2025: Apache Iceberg tables GA - externalized storage, federation with $DBRK Delta
- Ongoing: $5B+ remaining performance obligations carried on balance sheet
- ZETA$31.03last$17.00fib+82.5%vs fibanchored by Top-3 US wireless carrier · Top-5 US bank (renewed 2025) · F500 auto OEM · F500 retail / e-commerce · F500 travel & hospitality
- 2025-Q3 - Multi-year >$50M expansion with a top-3 US wireless carrier, anchored on Zeta AI Agent Studio for retention campaigns
- 2025 - Renewed and upsized a top-5 US bank deal; cited as proof of >110% net-revenue retention in the scaled-customer cohort (>$1M ARR)
- 2024-Q4 - LiveIntent acquisition closed (~$250M consideration) - folded LiveIntent identity graph + email-newsletter inventory into ZMP
- 2024 - Launched Zeta AI Agent Studio (LLM-native campaign agents) as the platform headline upsell
- Ongoing - Footprint across F500 marketers in financial services, telecom, retail, auto and travel verticals
Co-movement matrix (252d)
CRWD | IBM | PLTR | SNOW | ZETA | |
|---|---|---|---|---|---|
| CRWD | · | 0.18 | 0.48 | 0.56 | 0.45 |
| IBM | 0.18 | · | 0.27 | 0.27 | 0.39 |
| PLTR | 0.48 | 0.27 | · | 0.50 | 0.51 |
| SNOW | 0.56 | 0.27 | 0.50 | · | 0.48 |
| ZETA | 0.45 | 0.39 | 0.51 | 0.48 | · |
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Frequently asked questions
- What are the top stocks in the AI Applications theme?
- QuantAbundance's AI Applications theme tracks 5 stocks ranked editorially: CRWD, IBM, PLTR, SNOW, ZETA.
- Do AI Applications stocks move together?
- The AI Applications theme has a 252-day average correlation of 0.41 across its members - weak co-movement. Editorial themes are narrative groupings, not capital-flow validated; tradability follows correlation, not the story.