Core Viewpoint - AReaL-boba² is a significant upgrade to the asynchronous reinforcement learning (RL) training system, enhancing efficiency, usability, and performance in coding RL tasks, while fully supporting Agentic RL [2][3][39]. Group 1: Efficiency and Performance - AReaL-boba² achieves a training speed improvement of up to 2.77 times compared to the previous version, while maintaining model performance [8]. - The system has set new state-of-the-art (SOTA) benchmarks in coding tasks, with the AReaL-boba²-14B model scoring 69.1 on LiveCodeBench and achieving a Codeforce rating of 2044 [5][4]. - The asynchronous RL framework allows for continuous data generation and model training, significantly improving GPU resource utilization and reducing idle time [14][15]. Group 2: User Accessibility - The upgrade includes comprehensive tutorials and documentation, making it easier for both beginners and experienced users to customize datasets, algorithms, and agent logic without modifying the underlying code [3][8]. - AReaL-boba² is designed to be user-friendly, with a simplified environment setup and experiment initiation process [3][8]. Group 3: Technical Innovations - The system employs a fully asynchronous RL training approach, decoupling data generation from model training, which addresses inefficiencies found in traditional synchronous RL systems [14][15]. - AReaL-boba² introduces two key algorithmic improvements: Staleness Control to manage data freshness and Decoupled PPO Objective to mitigate distribution discrepancies between old and new model versions [24][28]. Group 4: Future Developments - The AReaL team is continuously updating the Agentic RL capabilities, allowing developers to customize agents and environments for multi-turn interactions [39][40]. - The project is built on years of technical accumulation from various research teams and aims to make AI training accessible and customizable for everyone [41].

Company Overview - Sidetrade is a global leader in AI-powered Order-to-Cash applications, recently included in the 2025 Euronext Tech Leaders Index, which highlights high-growth tech companies in Europe [1][2] - The company has a market capitalization exceeding €300 million and has achieved a Compound Annual Growth Rate (CAGR) above 20% over the last three years [6] Technology and Innovation - Sidetrade's AI, named Aimie, is an autonomous agent designed to optimize cash flow processes by making decisions and adapting in real-time, utilizing a behavioral dataset of over $7.2 trillion in payment data [3][6] - Aimie enhances decision-making across a global network of over 40 million buyers, showcasing Sidetrade's commitment to innovation and intelligent orchestration in enterprise finance [3][4] Leadership and Vision - Olivier Novasque, the founder and CEO of Sidetrade, has been instrumental in the company's vision, advocating for a shift from automation to real-time intelligent orchestration in finance [4][5] - The company's approach emphasizes augmenting human capacity through technology, aiming to enhance judgment and accelerate actions in a complex financial landscape [5]

Summary of Atlassian Conference Call Company Overview - **Company**: Atlassian - **Industry**: Software Development and Collaboration Tools - **Key Products**: Jira, Confluence, Rovo (AI capabilities), Government Cloud, Isolated Cloud Core Points and Arguments 1. **Evolution of Atlassian**: The company has transitioned from a focus on Jira to a broader portfolio aimed at enhancing collaboration and productivity across various sectors, now serving over 300,000 customers, including 83% of the Fortune 500 [6][7][8] 2. **Cloud Migration Focus**: Atlassian is shifting from traditional on-premise software to cloud-based solutions, emphasizing the importance of migrating enterprise customers to their managed cloud offerings [6][33] 3. **Enterprise Market Opportunity**: Despite serving a significant portion of large enterprises, these customers represent less than 10% of total business, indicating substantial growth potential in this segment [7][8] 4. **Rovo AI Capabilities**: The introduction of Rovo, an advanced AI tool, aims to drive user adoption and enhance product stickiness. The decision to offer Rovo for free initially is intended to increase usage and gather user feedback [11][15][16] 5. **User Engagement**: Rovo has achieved over 1.5 million monthly active users, reflecting a 50% increase quarter-over-quarter, showcasing strong customer engagement with AI features [16] 6. **Integration with Third-Party Tools**: Rovo supports enterprise search across various platforms, including Google Suite and Salesforce, enhancing its utility for users [21][23] 7. **Non-Technical User Base**: Approximately 48% of Jira users are non-technical, highlighting the potential for Atlassian to expand its offerings to a broader audience beyond software developers [27][28] 8. **Cloud Strategy**: The introduction of Isolated Cloud aims to cater to customers needing single-tenant solutions, addressing concerns about data center limitations and enhancing the overall customer experience [33][35] 9. **Generative AI Opportunities**: Atlassian views generative AI as a significant opportunity, as it will create new software and technologies, leading to new challenges that their products can help solve [39][41] 10. **Long-Term Financial Targets**: Atlassian aims for a revenue CAGR of over 20% and operating margins exceeding 25% by FY 2027, with ongoing investments in R&D and sales to support enterprise growth [64][66] Additional Important Insights - **Channel Partner Evolution**: The company plans to evolve its partner ecosystem to provide more value-added services, particularly in the context of AI and enterprise solutions [55][63] - **Focus on Customer Relationships**: Atlassian emphasizes the importance of building deeper relationships with enterprise customers to expand their footprint and enhance customer success [51][53] - **Market Dynamics**: The company is adapting its strategies in response to market changes, including limiting data center contract lengths to encourage cloud migration [57][59] This summary encapsulates the key discussions and insights from the conference call, highlighting Atlassian's strategic direction, market opportunities, and product innovations.

Core Insights - Thomson Reuters has launched agentic AI systems, starting with CoCounsel for tax, audit, and accounting professionals, which enhances workflow integration and accountability [1][2][5] - The agentic AI platform is designed to operate within existing professional workflows, breaking down complex tasks into manageable steps while ensuring human oversight [2][3][6] Company Developments - The agentic platform has been in development for over a year, accelerated by the acquisition of Materia, an AI copilot startup [3][11] - CoCounsel is the first agentic experience launched, automating tasks such as client file review and compliance checks, and integrating various resources into a single workspace [5][8] Technology and Features - Thomson Reuters is re-architecting its core product experiences to embed agentic capabilities, utilizing features from platforms like Checkpoint and Westlaw [4][10] - The new systems are tailored for high-stakes environments where accuracy and trust are critical, with a focus on integrating generative AI [4][6] Market Position - The launch of CoCounsel signifies a major advancement in professional-grade AI, with early customers reporting significant time savings in their workflows [7][8] - Thomson Reuters aims to redefine the capabilities of generative AI in professional settings, with plans for further developments in legal, risk, and compliance domains [10][12] Future Outlook - Upcoming applications include "Ready to Review," an agentic tax prep application that will further enhance the capabilities of AI in professional environments [9] - The company is committed to ongoing transformation and leadership in the agentic AI space, indicating a strong future direction for its technology offerings [11][12]

Core Insights - Kaltura announced the recipients of the 2025 Digital Engagement Awards, recognizing companies that are leading AI-powered transformation in their organizations [1][2] - The awards highlight innovative use of Kaltura's Agentic AI video platform, showcasing creativity and impact in enterprise digital experiences [2] Award Recipients - **AI Transformation Trailblazer Award**: Recognizes companies that have made significant strides in AI integration [3] - **Collaboration Champion Award**: Honors organizations that excel in fostering collaboration through innovative practices [3] - **Brand Engagement Innovator Award**: Celebrates brands that have creatively engaged their audiences [3] - **Accessibility & AI Mover & Shaker Award**: Acknowledges efforts in combining AI with accessibility initiatives [3] Notable Honorees - **Accenture**: Recognized for integrating AI and accessibility to ensure inclusivity [3] - **Bloomberg**: Acknowledged for leading enterprise innovation [4] - **SAP**: Honored for its visionary approach to intelligent innovation [4] - **Vanguard**: Celebrated for unifying multiple business lines under a single vision [4] - **Oracle**: Recognized for enhancing collaboration through video technology [4] - **KPMG**: Acknowledged for building global alignment and competitive advantage [4] - **Pinterest**: Celebrated for prioritizing accessibility in its operations [4] - **BP**: Recognized for consistent and bold brand storytelling [4] - **Salesforce**: Honored for its commitment to sustainability and carbon removal initiatives [5] - **JP Morgan Chase & Co.**: Acknowledged for creating an accessible workplace [7] - **Wells Fargo**: Recognized for its organization-wide commitment to accessibility [7] - **IBM**: Celebrated for balancing legacy with innovation [8] - **Airbnb**: Honored for meaningful engagement and partnership [8] - **Shell**: Recognized for purposeful evolution and impact [8] - **EY**: Acknowledged for proactive feedback integration [8] - **Adobe**: Celebrated for setting standards in employee experience in an AI-driven world [8] Kaltura Overview - Kaltura aims to create AI-infused hyper-personalized video experiences to enhance customer and employee engagement [6] - The company offers a comprehensive AI Video Experience Cloud, including various video-first products for enterprise and educational use [6]

Salesforce (CRM) Update Summary Company Overview - **Company**: Salesforce (CRM) - **Date of Call**: May 29, 2025 Key Industry Insights - **Focus on AI and Data**: Salesforce emphasizes the integration of data and AI as a core strategy to enhance customer success and operational efficiency [1][3][17] - **Emergence of Digital Labor**: The concept of digital labor is introduced, suggesting a shift from human labor to intelligent, digital labor that augments human capabilities [18] Core Points and Arguments - **Product Strategy**: Salesforce is focusing on its product strategy around AI and data, with a particular emphasis on the AgentForce platform, which aims to redefine business processes through intelligent agents [1][20][21] - **Customer-Centric Approach**: The company is prioritizing customer success and operational excellence, with a commitment to responsible capital allocation [3][19] - **Integration of Informatica**: Informatica's acquisition is highlighted as a key component to enhance Salesforce's data management capabilities, particularly in data quality, governance, and integration [33][52][89] - **Data Cloud Capabilities**: Salesforce's Data Cloud is designed to bridge data silos and provide reliable insights, enabling intelligent actions across various business applications [30][32][34] - **AgentForce Functionality**: The AgentForce platform allows for the creation of intelligent agents that can interact with customers and perform tasks based on real-time data, enhancing customer service and operational efficiency [27][61] Additional Important Insights - **Use Cases and Customer Adoption**: Initial use cases for AgentForce include customer service applications, with a focus on internal agents for testing before external deployment [65][66] - **Challenges in Adoption**: The company acknowledges friction points in scaling AgentForce, including infrastructure readiness and understanding of the new technology [80][81] - **Differentiation through Atlas Reasoning Engine**: The Atlas reasoning engine is positioned as a differentiator, allowing for secure data access and enhanced reasoning capabilities tailored to enterprise needs [72][77] - **Open Architecture**: Salesforce emphasizes an open architecture that allows integration with various data sources and applications, ensuring flexibility for enterprise customers [40][44] Conclusion Salesforce is strategically positioning itself at the forefront of AI and data integration within the CRM space, leveraging its acquisition of Informatica to enhance its offerings. The focus on digital labor and intelligent agents through the AgentForce platform aims to transform customer interactions and operational processes, while addressing the complexities of enterprise data management.

Financial Data and Key Metrics Changes - The company exceeded guidance on billings, revenue, and EPS for Q1, showing solid performance across all metrics [4] - Subscription RPO increased by 24% year over year, up from 14% in the previous quarter, with current RPO up 5% [4][8] - Net retention improved for the third consecutive quarter, and ARR increased sequentially for the first time in a while [5] - Rep productivity rose by 60% year over year, indicating enhanced sales force efficiency [5] Business Line Data and Key Metrics Changes - The company reported a strong performance in subscription revenue, with core metrics such as net retention and ARR trending positively [14] - The focus on multi-year contracts has contributed to the growth in RPO, reflecting stronger customer relationships [9][10] Market Data and Key Metrics Changes - The pipeline from the ecosystem increased by over 200% in Q1 compared to Q4, indicating robust demand and lead flow [20][21] - The company is seeing a steady state in sales cycles, with some adaptation to increased scrutiny from CFOs [7] Company Strategy and Development Direction - The company is shifting its go-to-market approach to work seamlessly with partners like Snowflake and Databricks, enhancing its competitive positioning [19][20] - The strategy includes building strong relationships and educating partners on the benefits of the company's platform [26][27] - The consumption pricing model is being adopted by over 70% of the customer base, with expectations to approach 90% by year-end [43][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the pipeline and the core business, leading to guidance for Q4 of this year and next year [21][22] - The company is optimistic about the impact of AI and agentic workflows on customer engagement and retention [60][61] Other Important Information - The company does not have significant federal exposure, mitigating risks from public sector revenue concerns [86] - The recent acquisition of Informatica by Salesforce is seen as a competitive opportunity for the company [82][84] Q&A Session Summary Question: What is the outlook for the consumption pricing model? - The company expects to approach 90% of ARR on consumption by the end of the year, reflecting strong adoption trends [43][44] Question: How is the partnership with Snowflake progressing? - The partnership is yielding positive results, with increased lead flow and joint selling opportunities [20][34] Question: What are the implications of the Informatica acquisition? - The acquisition is expected to create competitive opportunities, as the company anticipates seeing less of Informatica in deals [82][84] Question: How is the company managing costs while pursuing growth? - The company is focusing on optimizing resources and leveraging AI to enhance productivity without increasing costs [72][73]

Group 1 - The demand for AI inference is growing faster than the increase in computing power [1] - The cancellation of the AI diffusion policy by President Trump is seen as beneficial for the United States [1] - In the enterprise AI sector, Agentic AI is performing exceptionally well, even surpassing general AI [1] - Globally, there is significant investment in local manufacturing and AI applications, with new factories widely adopting AI technology [1]

Core Insights - The CEO of Nvidia, Jensen Huang, highlighted four unexpected developments in the AI sector [1] Group 1: AI Demand and Developments - Inference AI has created increased computational demand [1] - The cancellation of the AI diffusion policy by former President Trump is viewed positively, with hopes for American competitiveness [1] - In enterprise-level AI, Agentic AI is proving to be more effective than general AI [1] Group 2: Industry Trends - There is a strong regional focus on domestic manufacturing and the construction of new factories, all of which are utilizing AI technology [1]

Financial Data and Key Metrics Changes - Total revenue for Q4 reached $108.7 million, reflecting a 26% increase compared to $86.6 million in the same quarter of the prior year [41] - Subscription revenue for the quarter was $87.3 million, up 9% from $79.9 million a year ago [41] - For the full fiscal year 2025, total revenue was $389.1 million, a 25% increase compared to $310.6 million in fiscal 2024 [42] - Non-GAAP gross profit for Q4 was $75.2 million, equating to a gross margin of approximately 69% [41] - The company closed Q4 with $742.7 million in cash, cash equivalents, and investments, remaining largely unchanged from a year ago [41][68] Business Line Data and Key Metrics Changes - Revenue from the sale of software licenses that are demonstration versions of C3AI applications was $33.8 million during the quarter [64] - Professional services revenue was $21.4 million, with prioritized engineering services accounting for $17 million [65] - Non-Baker Hughes revenue grew by 37% year over year during the quarter and by 40% during the year [65] Market Data and Key Metrics Changes - Non-oil and gas revenue increased by 48% year over year, reflecting successful expansion into 19 different industries [44] - Revenue in state and local government grew over 100% in fiscal 2025, with 71 agreements closed across organizations in 24 states [45] - The life sciences and healthcare sector is emerging as a strength, with traction from customers like GSK and Quest Diagnostics [46] Company Strategy and Development Direction - The company is focused on building a robust partner ecosystem, with 73% of agreements delivered in collaboration with partners [48] - The renewed partnership with Baker Hughes is expected to drive innovation and opportunity in the energy sector [44] - The company aims to capitalize on the growing market for generative AI and Agentic AI, with over 100 solutions deployed [30][59] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving non-GAAP profitability during the second half of fiscal 2027, with expectations of being free cash flow positive in Q4 of fiscal 2026 [71] - The company highlighted the importance of geopolitical stability for its revenue guidance, acknowledging potential risks [71] - Management emphasized the unique position of C3AI as the only enterprise AI application pure play, with a focus on delivering turnkey solutions [60] Other Important Information - The company has delivered over 130 applications to date, with a focus on addressing real-world business challenges [60] - The partnership with PwC targets key industries such as financial services and manufacturing, enhancing AI-driven transformation [50] - The company has a strong cash position, maintaining approximately $750 million in cash over the past year [35][68] Q&A Session Summary Question: How does the company activate Azure sales reps to deliver C3AI? - The company is charting its salespeople to partner with Azure sales reps, focusing on joint sales calls and providing necessary tools for effective demonstrations [73][75] Question: Can you provide details on the economics of the new Baker Hughes deal? - Specifics are covered under NDA, but the partnership has broadened significantly, continuing to develop solutions together [82] Question: How did the company construct its revenue guidance for FY26? - The guidance reflects awareness of geopolitical risks and the need for stability, with expectations of revenue growth exceeding expense growth [85][87]