Software companies that reaccelerated revenue growth in Q1 2026 relative to the prior quarter: Shopify: +34% y/y, was +31% Atlassian: +32% y/y, was +23% Datadog: +32% y/y, was +29% Twilio: +20% y/y, was +14% Freshworks: +16% y/y, was +14% HubSpot and ServiceNow also reaccelerated on reported growth, but much of that was FX-driven.

software was: you writing it then running it now, if anyone has used Hermes you understand that you don't actually design the software, your agent does in a way that it thinks is best. These are not traditional software in monorepos etc. They are scripts the agent loves to use, and they compose into epic workflows. The harness is guiding the code, not the other way around. soon everyone will realise this

Software is well positioned to see a sustained rally Take $INTU for example, the leader in accounting software: 1. It has never been easier to start a business and those businesses will need accounting software 2. Businesses aren't going to vibe code their own accounting software. It's a small cost item and you need to make sure it's fully tax compliant. Links with govs are also needed so that they can automatically file your taxes. 3. I'm definitely not going to buy any software from vibe coded competitors. Vibe coded software is prone to security breaches for devs that don't fully know what they're now doing. Stick with the leaders that have secure, battle tested software. 4. Businesses are now subscribing to AI workloads inside their accounting software. For example, I subscribed to an AI which automatically classifies my costs, the result is that my P&L and accounting are now fully automatically generated. So, EPS will likely accelerate from here, same with the PE multiple which has lots of potential for recovery. Attractive risk-reward