Group 1 - The article discusses a significant legislative change regarding the expensing of research and development (R&D) costs for U.S. companies, which is expected to have a major impact on corporate financials starting in 2025 [4][6][7] - The new rule allows companies to deduct R&D expenses immediately in the year they are incurred, reversing the previous requirement to amortize these costs over five years [6][7] - This change is anticipated to enhance the appearance of earnings and cash flow for companies, potentially leading to increased investor interest and higher stock valuations [8][9] Group 2 - Lyft is highlighted as a company that will benefit from the new R&D expensing rule, as it spends approximately $375 million annually on U.S. R&D, which will now positively impact its reported income [11][12] - Unity Software, with a high R&D-to-revenue ratio of nearly 70%, is expected to see a significant improvement in its profitability and cash flow metrics due to the new expensing rule [13][14] - Snap Inc. is identified as a sleeper stock that could surprise investors with improved earnings per share (EPS) as a result of the new R&D expensing treatment [17][19] Group 3 - Palantir Technologies is noted for its strong R&D spending, which will now enhance its reported earnings quality and free cash flow optics under the new rules [20][21] - Rivian Automotive, despite being a cash-burning EV manufacturer, is expected to benefit from the ability to immediately expense its R&D costs, improving its perceived stability [22][23] - The article emphasizes that these opportunities may not be immediately recognized by the market, suggesting a potential for significant gains as analysts adjust their models [24][25]