TSP Weekly Tech Stock Update—June 28, 2025
This Week: AVGO/CRWD/MSFT new all-time highs, Rubrik buys Predibase, Morgan Stanley bullish on SNOW, KeyBanc likes NTNX, Apple AI M&A chatter, GitLab shares try to stabilize, ESTC gets upgraded & more
Hello from Rob…
—In Iconiq Capital’s new 2025 State of AI Report, the firm surveyed 300 software executives to get an idea of the various tools being used to deliver and scale AI-powered offerings. In the monitoring and observability category, “incumbent infrastructure still rules,” according to Iconiq.
Nearly half of teams lean on their existing APM/logging stacks—including Datadog (DDOG, $132.08), Honeycomb and New Relic—rather than adopting ML-specific tools, underscoring that ease of integration and organizational standardization often outweigh the benefits of bespoke AI monitoring, according to the report.
Iconiq notes early traction for two ML-native platforms: LangSmith and Weights & Biases. Both have broken through to reach ~17% adoption, showing real appetite for turnkey solutions that instrument prompt chains, track embeddings and surface drift without bolt-ons to legacy systems, the report says.
Datadog shares this week rose 3.6%. The stock is up 12% since I wrote about it here at the end of May.
*Inside This Issue: ServiceNow is a CRM Disrupter
—Paid subscribers will receive the July 2025 PDF of Tech-Stock Prospector (TSP #281) via email on Tuesday, July 8.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.