Core Viewpoint - PTC presents a compelling investment opportunity despite recent stock price pressures, attributed to a shift in investor focus towards AI-related companies and concerns about AI's impact on industrial software [1][2]. Company Overview - PTC is a leader in product lifecycle management (PLM) and computer-aided design (CAD) software, facilitating the creation of a digital thread for products throughout their lifecycle [4]. - The company's preferred metric, Annual Run Rate (ARR), reflects the annualized value of its active subscription software and contracts, which is crucial for revenue and cash flow [5]. Financial Performance - PTC's ARR growth is forecasted to slow to 7.5% to 9.5% in fiscal 2026, a significant decline from previous mid-teens growth expectations [6]. - The stock has declined by 10% over the past year, which is seen as a reaction to the slowing ARR and AI-related market concerns [2][6]. AI Integration - AI is viewed as a major opportunity for PTC rather than a threat, as the company is embedding AI into its existing systems to enhance value [8][9]. - Customers prefer AI to be integrated into trusted systems rather than as standalone solutions, aligning with PTC's strategic focus [9]. Future Outlook - Management anticipates a significant increase in ARR starting in Q4 of fiscal 2026, driven by large deals not yet reflected in current ARR figures [10]. - PTC's restructured go-to-market strategy aims to secure larger enterprise deals, enhancing its market position [11]. - The company expects to achieve $1 billion in free cash flow by 2026, indicating a favorable valuation with a free-cash-flow multiple of 18.7 based on its current market cap of $18.7 billion [12].

A significant portion of the call focused on the company’s “Rimini Smart Path” strategy and the introduction of “Agentic AI ERP” solutions. Ravin argued that traditional ERP software has “peaked” technically, and positioned Rimini Street’s approach as delivering new capabilities “faster, better, and cheaper” by deploying an AI layer over existing ERP systems.Ravin said bookings, pipeline, and RPO strengthened throughout the second half of 2025, which he said supported the company’s confidence in returning t ...

来源：环球网 作为专为复杂任务设计的智能模型，Gemini 3.1 Pro突破了简单答案输出的局限，将高级推理能力转化 为解决实际棘手难题的实用工具。升级后的模型能够为复杂课题提供清晰直观的可视化解释，实现多源 数据的整合统一，还能助力各类创意项目落地实施，其升级的智能水平可广泛赋能科研、开发、商业等 诸多实际应用场景。 在开放落地方面，Gemini 3.1 Pro已开启分批次推送。面向开发者，可通过Google AI Studio、Gemini CLI、智能体开发平台Google Antigravity以及Android Studio中的Gemini API开放预览版体验；面向企业 用户，该模型已登陆Vertex AI与Gemini Enterprise平台；面向普通用户，Gemini 3.1 Pro也已在Gemini应 用与NotebookLM中正式上线。 同时，谷歌还为订阅用户推出相应权益升级，Google AI Pro与Ultra订阅用户在Gemini应用中使用Gemini 3.1 Pro时，将获得更高的使用限额，NotebookLM也为这两类订阅用户独家开放该模型的全部能力，让 用户能够更充分地体验 ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of Varonis Systems, Inc. during the specified class period of the upcoming lead plaintiff deadline for a class action lawsuit [1]. Group 1: Class Action Details - Investors who bought Varonis common stock between February 4, 2025, and October 28, 2025, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the court to serve as lead plaintiff by March 9, 2026 [3]. - Investors can join the class action by visiting the provided link or contacting the law firm directly for more information [6]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time and being ranked No. 1 for the number of settlements in 2017 [4]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4]. Group 3: Case Allegations - The lawsuit alleges that Varonis made materially false and misleading statements regarding its ability to maintain annual recurring revenue (ARR) projections while transitioning customers to a software-as-a-service (SaaS) model [5]. - It is claimed that Varonis was not adequately prepared to convince existing users of the benefits of the SaaS offering, leading to reduced ARR growth potential [5]. - The lawsuit asserts that the misleading statements resulted in investor damages when the true situation was revealed [5].

Five9 reported fourth-quarter total revenue of $300 million, up 8% year-over-year. Subscription revenue, which made up 82% of total revenue, grew 12% year-over-year in Q4, which management said was an acceleration versus prior trends. Burkland said enterprise AI bookings more than doubled year-over-year and contributed to higher backlog, while enterprise AI annual run-rate revenue surpassed $100 million in the quarter.Burkland said Five9 grew from roughly $10 million in annual revenue to a “$1.2 billion run ...

Core Viewpoint - The article discusses the significant upgrades of Google's Gemini 3.1 Pro model compared to its predecessor, Gemini 3 Pro, highlighting improvements in multimodal generation, semantic understanding, and reasoning capabilities [1][9][10]. Group 1: Model Upgrades - Gemini 3.1 Pro shows a noticeable enhancement in multimodal generation and semantic understanding, achieving a higher level of performance [1]. - The model can convert everyday data into interactive visual content, such as aerospace dashboards and city simulations [3][5]. - In the ARC-AGI-2 benchmark test, Gemini 3.1 Pro achieved a verification score of 77.1%, which is double that of Gemini 3 Pro [10]. Group 2: Performance Metrics - The performance comparison table indicates that Gemini 3.1 Pro outperforms other models in various benchmarks, including academic reasoning and abstract reasoning puzzles [11]. - The overall ranking score of Gemini 3.1 Pro in Arena's evaluation is 13 points higher than that of Gemini 3 Pro, with significant improvements in text and code dimensions [12]. - The model supports a context length of 1 million tokens and has a knowledge cutoff date of January 2025, enhancing its multimodal understanding and long-context performance [11]. Group 3: User Experience and Applications - Users have reported positive experiences with Gemini 3.1 Pro, generating complex visualizations and interactive applications, such as a 3D simulation of a flock of birds [17][20]. - The model has been utilized to create personal websites and educational applications, showcasing its versatility and advanced capabilities [24][25]. - The model is now available in Gemini applications and APIs, with specific access for Google AI Pro and Ultra users [29]. Group 4: Cost and Market Implications - The release of Gemini 3.1 Pro marks Google's first use of a ".1" version number, indicating a rapid pace of development in large models [30]. - The pricing for Gemini 3.1 Pro remains competitive, with input costs at $2 for less than 200k tokens and $4 for more, while output costs are $4 for less than 200k tokens and $18 for more [36]. - The cost per ARC-AGI-2 task is approximately $0.96, significantly lower than the previous model, suggesting a shift in the cost-performance curve in AI development [37][41].

相比去年十一月发布的 Gemini 3 Pro，新模型推理性能直接翻倍。 在评估模型破解全新逻辑范式能力的 ARC-AGI-2 评测中，Gemini 3.1 Pro拿下 77.1%的得分(而 3 Pro 测试成绩为 31.1%)，大多数推理任务重都是SOTA,代码 能力无限接近opus 4.6，SWE-Bench验证80.6%，非常接近Opus 4.6的80.8%，看起来很强，但这些数据看看就好了，实际使用才能真正检验，相信大家很快 就会得出结论。 | Benchmark | | Gemini 3.1 Pro | Gemini 3 Pro | Sonnet 4.6 | Opus 4.6 | GPT-5.2 | | --- | --- | --- | --- | --- | --- | --- | | | | Thinking (High) | Thinking (High) | Thinking (Max) | Thinking (Max) | Thinking (x) | | Humanity's Last Exam | No tools | 44.4% | 37.5% | 33.2% | 40.0% | ...

Performance was driven by the successful integration of Adlumin, which solidified N-able's presence in the AI Security Operations Center (SOC) market and exceeded cross-sell expectations. Management attributes growth to the 'durable truth' that digital evolution requires expert technology guidance, with AI acting as a fundamental tailwind rather than a threat to their software moat. The company is successfully moving upmarket, with customers contributing over $50,000 in ARR now representing 61% of tot ...

招股书显示，星环科技是一家AI基础设施软件提供商，通过深度融合人工智能、大数据与云技术，助力企业高效构建AI基础设施软件，推动各行业智能化 转型与商业模式创新。按收入计，2024年公司在中国AI基础设施软件市场排名第五，亦为最大的纯AI基础设施软件提供商。 截至2025年3月31日，公司的产品及解决方案已在金融、公共部门、能源、医疗、交通、制造等十余个行业落地，服务超过1,600家客户，其中包括约110家 《财富》中国500强企业。2022年至2024年，现有客户的复购收入平均占总收入的70%以上。 智通财经APP获悉，星环信息科技(上海)股份有限公司(简称：星环科技(688031.SH))于2025年8月18日所递交的港股招股书满6个月，于2026年2月18日失效， 递表时海通国际为其独家保荐人。 ...

Market Overview - U.S. markets experienced volatility due to escalating tensions with Iran and concerns over private credit stability [1][2] - The S&P 500 decreased by 0.28%, the Dow Jones Industrial Average fell by 0.54%, and the Nasdaq Composite dropped by 0.31% [3] Oil Market - Oil prices increased by nearly 2% amid fears of supply disruptions due to potential military action in Iran [2] Private Credit Market - Blue Owl Capital sold $1.4 billion in loan assets, which raised concerns about liquidity and stability in the private credit market, leading to a nearly 6% decline in its stock [2] - Other asset managers, including Blackstone and Apollo Global Management, also saw their shares retreat [2] Technology Sector - Software stocks, including Salesforce, Intuit, and Cadence Design Systems, ended the trading day lower [2] International Economic Indicators - Japan's headline inflation rate fell to 1.5% in January, the lowest since March 2022, and below the Bank of Japan's 2% target for the first time in 46 months [4] - Investors are awaiting China's loan prime rate decision, which is expected later in the day [4]