Fortunately, I got into Adobe at a good time—relatively near the bottom of the “SaaS is dead” wave. Unfortunately, the news about reverse engineering—particularly regarding Adobe Suite—came afterward, so the turnaround didn’t go quite as far as hoped. But it’s still a good result.

Software-as-a-Service

AI Agents

Moats

Data Platforms

Cloud Infrastructure

Earnings & Revenue

Valuation & Market Sentiment

Adobe $ADBE (+0,44%)

IBM $IBM (-0,03%)

Microsoft $MSFT (+0,21%)

Nemetschek $NEM (-4,19%)

Palo Alto $PANW (-1,94%)

Salesforce $CRM (+1,32%)

SAP $SAP (+2,03%)

TeamViewer $TMV (-0,09%)

Link: https://shorturl.at/oJFnv

That's an interesting topic—it reminds me a bit of the era of pirated copies in the early 2000s. It doesn't just affect $ADBE (+0,44%) ; the gaming industry is also currently grappling with this issue.

https://www.derstandard.at/story/3000000343256/von-adobe-genervter-entwickler-baut-photoshop-premiere-und-co-mit-ki-als-open-source-nach

Real Madrid has $IREN (-4,85%) announced as its new official sponsor. For IREN, this is the second major sports sponsorship deal of the year, following its partnership with the Golden State Warriors in June. The club describes the partnership as an alliance between two organizations committed to community, innovation, and technological progress. The announcement does not provide details on the duration, sponsorship category, or financial terms.

IREN provides GPU computing power for AI and is thus a pure-play B2B business. Its customers are AI labs and corporations, not soccer fans. Real Madrid already lists several tech partners on its partner page, including $HPQ (-0,94%), $CSCO (-3,4%) and $ADBE (+0,44%).

What does this sponsorship mean for IREN?

Even with the Warriors deal, IREN’s goal was visibility far beyond the industry, especially in the Bay Area, where the company serves several customers. In Europe, IREN entered the market in May with the acquisition of the Spanish Nostrum Group, thereby expanding its capacity to approximately 490 MW of secured grid capacity in Spain. According to IREN, its expansion in Europe is scheduled to begin in 2028. Against this backdrop, the Real Madrid deal could be a first step toward raising brand awareness there as well.

In my view, IREN is focused on brand awareness beyond the stock market and crypto bubbles. Overall, the deal’s valuation depends on how large the amount is relative to IREN’s marketing budget. It could also be a small deal.

Sources:

https://www.realmadrid.com/en-US/news/club/sponsors/iren-nuevo-patrocinador-del-real-madrid-16-10-2026

Greetings!

This morning, I had a long conversation with my IT colleague about the latest developments in the world of AI. What I learned really impressed me.

During our conversation, we got to talking about reverse engineering. Reverse engineering means recreating something as faithfully as possible based on the information available about it.

“OpenAI’s GPT-6 Astra achieves an 88.0% success rate on the SRE benchmark on the first attempt and 99.2% within four attempts. The benchmark tests how well an AI can analyze compiled programs without source code through reverse engineering, as well as understand and explain their core logic.”

What does this mean for the software industry?

Definitely nothing good. There’s already a clone of the Adobe Suite and also of Sony’s PS5. I’ll definitely be digging deeper into these topics over the next few weeks. It’s really completely crazy.

See -> ArtCraft (Adobe Suite clone)

See -> GitHub project AnyPS5 (PS5 clone)

What do you think about this?

Have a great start to the new week!

Best regards,

Chris

$ADBE (+0,44%)
$6758 (+4,98%)

🎩👌 Cheers,

Why can't pirates sail in circles?

Because they're guessing Pi🤷‍♂️

I wanted to check in with the community to see what you think about something like https://getartcraft.com/?

Someone has developed one using #ai / #claude Adobe $ADBE (+0,44%) .

Aside from that, more and more games—from Sony, for example $6758 (+4,98%) and others are being ported to PC.

Have a great Friday, everyone 🎩👌

Subscribe to the podcast to help keep Bitcoin tax-free.

Spotify

https://open.spotify.com/episode/5aQzxTJlGifaiuR9LM9hnK?si=G_Komv5iR0e99Xwje3BTXw

YouTube

https://openyoutu.be/KyUhFelsSWE

Apple Podcasts

https://podcasts.apple.com/de/podcast/165-ki-angst-oracle-adobe-apple-crowdstrike-bitcoin/id1695869891?i=1000789723647

$ORCL (-0,92%)
$ADBE (+0,44%)
$CRWD (-2,74%)
$AAPL (+0,09%)
$BTC (-0,62%)
$ETH (-0,79%)
$SOL (+0,54%)
$COIN (-0,23%)

$ADBE (+0,44%)
reported strong results last night after the U.S. stock market closed and exceeded expectations for both revenue and profit, though the outlook for the upcoming quarter slightly disappointed investors.

📈 1. Key Operational Highlights

The financial results show a solid foundation for the software giant.

Total revenue climbed to a a new record of $6.76 billion.

Annual recurring revenue (ARR) rose to a total of $27.5 billion.

In particular, the key metric for AI monetization (AI-first ARR) impressed with a jump to over $650 million.

In addition, Adobe announced a announced a major leadership change: Longtime CEO Shantanu Narayen will hand over the reins to Anil Chakravarthy on December 1 and join the board of directors.

⚠️ 2. Why the stock still came under pressure

Although Adobe beat expectations and slightly raised its full-year forecast, the market reacted negatively.

The outlook for the crucial fourth quarter is for revenue of $6.80 to $6.85 billion slightly behind the hopes of some analysts, who had projected $6.85 billion.

Given the extremely high standards for perfection currently prevailing in the AI sector, this minor setback in the forecast was enough to trigger trigger a slight round-of-the-bell profit-taking by investors.

I think the numbers are strong; I’m particularly impressed by the ARR growth of AI-first. That’s why I’m staying invested. The aggressive share buyback program has also boosted EPS nicely—I’d be happy to see that continue.

Monday, September 7

🇺🇸 All day: U.S. – Stock markets closed (Labor Day)

🇩🇪 8:00 a.m.: Germany – Industrial Production (July)

🇪🇺 10:30 a.m.: Eurozone – Sentix Economic Expectations (September)

Tuesday, September 8

🇩🇪 8:00 a.m.: Germany – Trade Balance (July)

Wednesday, September 9

🇨🇳 3:30 a.m.: China – Consumer Prices / Inflation (August)

Thursday, September 10

🇪🇺 2:15 p.m.: Eurozone – ECB Interest Rate Decision (press conference starting at 2:45 p.m.) 🌶

🇺🇸 2:30 p.m.: U.S. – Initial Jobless Claims

🇺🇸 2:30 p.m.: U.S. – Producer Prices (August) 🌶

Friday, September 11

🇺🇸 2:30 p.m.: U.S. – Consumer Prices / Inflation (August) 🌶

🇺🇸 4:00 p.m.: U.S. – University of Michigan Consumer Sentiment (September, preliminary)

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