Core Insights - Sands Capital Technology Innovators Fund reported an 8.4% net return in Q3 2025, underperforming the benchmark MSCI ACWI Info Tech and Communication Services Index, which returned 12.5% [1] - The fund focuses on pioneering businesses that are key drivers or beneficiaries of long-term technological changes [1] Fund Performance - The fund's performance was influenced by global equities appreciating in Q3, with the U.S. contributing nearly 70% to the index's increase [1] - Developed markets outside the U.S. and emerging markets also provided positive returns during the same period [1] Investment Focus - The fund highlighted CrowdStrike Holdings, Inc. (NASDAQ:CRWD) as a significant investment, noting a one-month return of -7.75% and a 52-week gain of 46.82% [2] - As of November 28, 2025, CrowdStrike's stock closed at $509.16, with a market capitalization of $127.776 billion [2] Strategic Decisions - The fund exited its position in CrowdStrike to invest in other high-growth businesses, citing increased valuation and lower expected returns from CrowdStrike [3] - Capital was redeployed into Figma and Duolingo, which are perceived to offer a more attractive balance of growth and valuation [3] Hedge Fund Interest - CrowdStrike is not among the 30 most popular stocks among hedge funds, with 66 hedge fund portfolios holding the stock at the end of Q3, unchanged from the previous quarter [4] - There is a belief that certain AI stocks present greater upside potential and carry less downside risk compared to CrowdStrike [4]

Group 1: CrowdStrike Holdings, Inc. - CrowdStrike is set to report its third-quarter earnings on December 2, with analysts expecting earnings of 94 cents per share, an increase from 93 cents per share in the same period last year [1] - The consensus estimate for CrowdStrike's quarterly revenue is $1.22 billion, up from $1.01 billion a year earlier [2] - CrowdStrike shares gained 1.5% to close at $509.16 on Friday [7] Group 2: Global X Cybersecurity ETF - The Global X Cybersecurity ETF is considered a good entry point for investors lacking cybersecurity exposure [2] - The ETF gained 1% during the session [7] Group 3: Amazon.com, Inc. - Amazon has been selected as a final trade by an investment strategist, indicating positive sentiment towards the company [3] - Amazon, in collaboration with Alphabet Inc.'s Google, launched a new multicloud networking service to enhance reliable connectivity, allowing customers to establish private, high-speed links between their platforms quickly [4] - Amazon shares rose 1.8% to settle at $233.22 on Friday [7] Group 4: Prologis, Inc. - Prologis, a REIT with a relationship with Amazon, was highlighted by an investment director, suggesting its relevance in the current market [5] - Scotiabank analyst maintained Prologis with a Sector Perform rating and raised the price target from $127 to $133 [5] - Prologis shares rose 0.3% to close at $128.53 during the session [7]

Dec 1, 2025 8:04 AM Eastern Standard Time CrowdStrike Stops Cloud Attacks in Seconds with Real-Time Cloud Detection and Response Innovations Share New real-time detection engine, cloud Indicators of Attack, and automated response actions give SOC teams real-time protection at machine speed AUSTIN, Texas & LAS VEGAS--(BUSINESS WIRE)--AWS re:Invent 2025 --CrowdStrike (NASDAQ: CRWD) today unveiled new Cloud Detection and Response (CDR) innovations, advancing real-time protection across hybrid and multi-cloud e ...

CAMBRIDGE, Mass., Dec. 01, 2025 (GLOBE NEWSWIRE) --  Akamai Technologies, Inc. (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online, today announced that it has acquired Fermyon the serverless WebAssembly company. As artificial intelligence (AI) inference shifts to the edge, combining Fermyon’s cloud-native WebAssembly (Wasm) function-as-a-service (FaaS) with Akamai’s globally distributed platform enables enterprises to build edge-native applications that of ...

Core Insights - U.S. stock futures indicate a cautious start to December as investors balance rising Treasury yields with hopes for a Federal Reserve interest rate cut [1][2] Premarket Trading Activity and Futures Movements - U.S. stock futures are predominantly negative, with S&P 500 futures down approximately 0.5% to 0.7%, Nasdaq 100 futures down around 0.6% to 0.7%, and Dow Jones futures falling between 0.3% and 0.6% [2] - Last week, major indexes saw notable gains: S&P 500 surged 3.7%, Nasdaq Composite rose 4.9%, and Dow increased by 3.2% [2] - November was mixed, with S&P 500 and Dow ending flat, while Nasdaq Composite fell 1.5% due to concerns over AI firm valuations [2] - The U.S. 10-year Treasury yield is near 4.04%, contributing to cautious market sentiment [2] Current Performance of Major Market Indexes - Premarket activity suggests major indexes may open lower, reflecting profit-taking after last week's rally [3] - Historically, December is a strong month for the S&P 500, typically rising over 1% since 1950, which may provide underlying support [3] Upcoming Market Events - The week of December 1st includes significant economic data releases, such as S&P Global Manufacturing PMI Final and ISM Manufacturing Index for November [4] - Key reports later in the week include construction spending, balance of trade, initial jobless claims, and factory orders, with the PCE price index being particularly crucial [4] Federal Reserve Insights - Markets are pricing in an over 85% chance of a 25-basis-point rate cut at the upcoming FOMC meeting on December 10th, making this week's economic data critical [5] Major Stock News and Corporate Announcements - Notable companies reporting earnings this week include Salesforce, Snowflake, CrowdStrike, Marvell Technology, and Hewlett Packard Enterprise [6] - Tesla experienced a significant drop in November car registrations in France (58%) and Denmark (49%) [7] - Nvidia, Oracle, and Palantir Technologies faced double-digit losses in November, while Alphabet rose nearly 14% due to excitement over its Gemini AI model [7] Global Developments - Samsung Electronics partnered with Turkish Airlines for a baggage tracking service [8] - Dynamic Cables Limited shares surged after receiving approval for manufacturing conductors in India [8] - Fujitsu launched a global initiative aimed at fostering innovation in the sports sector using advanced technologies [8] Commodity Market Movements - WTI crude oil futures are trending higher near $59.71 per barrel, while gold prices increased to nearly $4,253 per ounce, and silver reached a record high [9]

Core Insights - CrowdStrike's rise as a cybersecurity leader was initially met with skepticism from the industry, particularly regarding its cloud-based security model [1][2]. Company Strategy and Market Position - When CrowdStrike was founded in 2011, major banks viewed cloud security as risky, often demanding on-premises solutions instead [2]. - Despite losing initial deals to competitors offering traditional on-prem tools, CrowdStrike remained committed to its cloud-only model, believing in the inevitability of cloud adoption [4][5]. - The company faced challenges in convincing large banks to install its lightweight endpoint agent, as many IT teams were already burdened by existing heavy antivirus solutions [6]. Financial Performance and Projections - CrowdStrike is set to report its fiscal Q3 2026 results on December 2, 2025, with previous quarter revenue of $1.17 billion, exceeding analyst expectations [8]. - For the upcoming third quarter, CrowdStrike projects revenue between $1.208 billion and $1.218 billion, with adjusted earnings expected to be between 93 cents and 95 cents per share [9]. - The company's current market capitalization stands at $127.78 billion [9].

Core Viewpoint - The company has completed the critical validation and mass production of its ASIC security chips, with new security products ready for market supply, but currently has no plans for external sales of the chips [1] Group 1 - The company responded to an investor inquiry regarding the external sales plans for its ASIC chips [1] - The company disclosed the progress of its ASIC security chip development in a recent announcement [1] - The new generation of security products equipped with ASIC chips is entering the supply preparation stage for bulk sales [1]

Group 1: Nasdaq Bull Market Overview - The Nasdaq Composite entered a new bull market on April 8, advancing by 53% since then, with historical data suggesting further upside is likely over the next year [1] - Historically, the Nasdaq has returned an average of 281% during bull markets, compounding at 31% annually since 1990 [1] Group 2: Nvidia Overview - Nvidia reported a 62% increase in revenue to $57 billion in the third quarter, with non-GAAP net income climbing 60% to $1.30 per diluted share [4][11] - The investment thesis for Nvidia is based on its leadership in data center GPUs and generative AI networking gear, supported by its CUDA software platform [5][6] - Analysts estimate Nvidia will maintain a 70% to 90% revenue share in AI accelerators through the end of the decade, with spending in this market forecast to grow at 29% annually through 2033 [7] - Nvidia's earnings are expected to grow at 37% annually over the next three years, making its current valuation of 44 times earnings appear relatively cheap [7] - Among 71 analysts, Nvidia has a median target price of $250 per share, implying a 41% upside from the current price of $177 [8] Group 3: Zscaler Overview - Zscaler specializes in zero trust network access and cloud protection, modernizing corporate networks through its security service edge (SSE) platform [9] - The company processes trillions of signals daily, enhancing its threat detection capabilities, and was ranked as a leader in the SSE market by Gartner [10] - Zscaler reported a 26% increase in revenue to $788 million for the first quarter of fiscal 2026, with non-GAAP earnings increasing 25% to $0.96 per diluted share [11] - Revenue from AI security products increased by 80% in the first quarter, indicating strong growth potential [12] - Wall Street expects adjusted earnings to grow at 17% annually through the fiscal year ending in July 2028, with a current valuation of 72 times adjusted earnings [13] - Among 51 analysts, Zscaler has a median target price of $330 per share, implying a 31% upside from its current price of $251 [8]

Core Insights - WISeKey, along with its subsidiaries SEALSQ and WISeSat, successfully launched a new satellite aboard a SpaceX mission, marking a significant milestone in their strategy to deploy a secure satellite constellation for IoT and cybersecurity services globally [3][4][5] Company Developments - The satellite was launched on a SpaceX Falcon 9 Transporter 16, enhancing WISeSat's collaboration with SpaceX as a trusted launch partner, and expanding its constellation for improved data availability in various applications [4][5] - The CEO of WISeKey emphasized that this launch strengthens Europe's capacity for sovereign space-based secure communications and integrates with SEALSQ's post-quantum technology for enhanced trust and privacy [5][6] - The newly launched satellite is designed to improve performance and resilience, supporting industrial IoT applications, environmental monitoring, and secure communications [5][6] Technological Innovations - The satellite features software-defined radio (SDR) technology for flexible in-orbit reconfiguration, higher data-rate communications for robust data transfer, and quantum-safe key distribution for critical infrastructure [6][7] - The integration of technologies from WISeKey, SEALSQ, and Hedera positions the WISeSat platform as a benchmark for post-quantum security in space, facilitating secure transactions and tokenized satellite services [8] Infrastructure Expansion - WISeSat has expanded its ground infrastructure with a dedicated satellite antenna in La Línea, Spain, and plans additional installations in Switzerland to enhance real-time monitoring and mission control [9]

Core Insights - WISeKey, SEALSQ, and WISeSat successfully launched a new satellite aboard a SpaceX mission, marking a significant milestone in their strategy to deploy a secure IoT and cybersecurity services constellation worldwide [3][4][5] Company Overview - WISeKey International Holding Ltd is a global leader in cybersecurity, blockchain, and IoT solutions, operating through several subsidiaries, including SEALSQ and WISeSat, which focus on semiconductors and space technology respectively [10][11] - The company aims to secure digital identity ecosystems using advanced technologies, with over 1.6 billion microchips deployed across various IoT sectors [11] Satellite Launch Details - The satellite was launched aboard a SpaceX Falcon 9 Transporter 16, enhancing WISeSat's collaboration with SpaceX as a trusted launch partner [4] - This launch expands WISeSat's constellation, improving coverage and data availability for industrial IoT applications, environmental monitoring, and secure communications [4][5] Technological Innovations - The newly launched satellite features advanced technological innovations designed to enhance performance, resilience, and application potential [5] - Key features include software-defined radio technology for flexible in-orbit reconfiguration and higher data-rate communications for demanding applications [7] Future Developments - WISeSat plans to support quantum-safe key distribution for critical infrastructure sectors starting with its next launch in early 2026 [6] - The platform will enable secure onboarding of billions of IoT devices, extending trusted connectivity to remote areas [6] Ground Infrastructure Expansion - WISeSat has expanded its ground infrastructure with a dedicated satellite antenna in La Línea, Spain, and additional installations planned in Switzerland to enhance real-time monitoring and mission control [9]