Everyone is selling SaaS. Almost nobody is asking which companies actually benefit from AI.

AI models are becoming a commodity. Every quarter a new one — better, faster, cheaper. The intelligence layer is converging. So what actually matters?

Two things: proprietary data and the ability to monetize AI-driven workflows at scale.

This is exactly why Meta keeps compounding. It owns the data, deploys AI to improve targeting, and advertisers pay more because outcomes get better. AI doesn't threaten Meta. It makes Meta's moat deeper.

Now imagine a company that operates with the same logic — proprietary data powering AI-driven marketing — but trades at a fraction of the valuation.

A company that just reported +153% platform usage growth. 87% time savings for CMOs using its AI agents. "Unprecedented demand" for its agentic AI product. 17 consecutive earnings beats. A strategic partnership with OpenAI that no competitor can match. $200M in buybacks at prices management clearly believes are a steal.

Growing at 34%. Trading at ~10x forward EBITDA.

Earnings drop tomorrow after close. Full thesis out now.

The superficial investor sells tech stocks because they can't be bothered to analyze them — they panic and follow the crowd. The intelligent investor keeps a cool head, studies the landscape, and uses the selloff to build positions in companies that benefit from AI but are being priced as if AI were a threat.

This is a clear market asymmetry.