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Sergey @sergeycyw.bsky.social · 19m

Full Deep Dive: sergeycyw.substack.com/p/palo-alto...

Palo Alto Networks: Platformization Pays Off — But Are Declining Gross Margins a Red Flag?

Deep Dive into $PANW: Valuation, Segment Growth, Key Metrics, Profitability, Expenses, Product Launches, Customer Acquisition, Financial Stability, SBC/Revenue, and Shareholder Dilution.

sergeycyw.substack.com

Sergey @sergeycyw.bsky.social · 19m

$110B TAM growing ~14% and only ~4% share keeps the runway long, while CAC payback at 5.5 months and rising NGS ARR (+32% YoY) point to improving efficiency.

The signal: consolidation wins, strong retention rate, and larger customers scaling fast—platformization is turning into durable growth.

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Sergey @sergeycyw.bsky.social · 19m

Palo Alto Networks: platformization is working — growth re-accelerates

#PANW is leaning into a “free now, platform later” playbook to lock in multi-product adoption, and the numbers are starting to show it. Revenue growth re-accelerated to +15.8% YoY with RPO up +24.2% and record net new ARR.

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Sergey @sergeycyw.bsky.social · 49m

The next cloud era is already here—it just runs on GPUs.

Sergey @sergeycyw.bsky.social · 49m

Valuations diverge — #NBIS trades at a premium, #WULF and #IREN near fair value, #CRWV below peers. Enterprise adoption accelerates with 90% of organizations testing or deploying Neo Clouds, confirming a structural shift in how compute is bought, scaled, and monetized.

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Sergey @sergeycyw.bsky.social · 49m

#APLD scaling AI-hosted HPC centers, #CIFR entering a $3B Google-backed HPC deal, and #IREN adding 11K Blackwell GPUs for $225M in annualized AI revenue.

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Sergey @sergeycyw.bsky.social · 49m

#NBIS leads with +215% 2026 revenue growth forecast and a $17.4B Microsoft deal locking visibility through 2031. #CRWV follows at +130%, expanding multi-billion contracts with OpenAI. #WULF up +102% as it pivots from Bitcoin mining to AI compute with Google’s backing.

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Sergey @sergeycyw.bsky.social · 49m

Yet, can the sector maintain triple-digit growth as GPU shortages and capital intensity converge? The answer will define the next wave of cloud disruption.

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Sergey @sergeycyw.bsky.social · 49m

Neo Clouds cut infrastructure costs by up to 50% and boost margins through optimized deployment—an irresistible value proposition for enterprises racing to scale AI.

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Sergey @sergeycyw.bsky.social · 49m

Neo Clouds Are Rewiring the Cloud Economy

The fastest-growing layer of the cloud stack isn’t AWS or Azure—it’s the rise of Neo Clouds. GPU-as-a-Service revenue is projected to exceed $65B by 2030, expanding 23–30% annually as AI training and inference drive insatiable demand.

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Sergey @sergeycyw.bsky.social · 1h

Full Deep Dive: sergeycyw.substack.com/p/crwd-guid...

CRWD: guides Back-Half ARR +40%—valuation Still Justified or Getting Pricey?

Deep Dive into $CRWD: Valuation, Segment Growth, Key Metrics, Profitability, Expenses, Product Launches, Customer Acquisition, Financial Stability, SBC/Revenue, and Shareholder Dilution.

sergeycyw.substack.com

Sergey @sergeycyw.bsky.social · 1h

With valuation rich and growth expectations reset higher, is the reacceleration durable?

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Sergey @sergeycyw.bsky.social · 1h

TAM expansion helps the story—$116B in 2025 and marching toward $225–250B by 2028–2029.

Still, the mosaic isn’t flawless: ARR growth trails revenue at 20.5%, net new ARR improved only modestly, and CAC payback sits at 25.7 months.

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Sergey @sergeycyw.bsky.social · 1h

Signal matters. So do proof points. RPO jumped 46.9%, billings rose 24.8%, and the product engine kept humming with fresh launches across identity, SIEM, cloud, and Charlotte AI. The premium multiple looks defensible when a platform keeps compounding and the July 19 shock failed to dent stickiness.

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Sergey @sergeycyw.bsky.social · 1h

CrowdStrike: Back-Half Torque Meets a Premium Tag

#CRWD #CrowdStrike Q2 landed clean: revenue reaccelerated, guidance sharpened. Management now calls for FY26 ending ARR “>22%,” a stance underpinned by back-half net new ARR growth of at least 40% YoY.