Jefferies published a report stating that the potential of artificial intelligence is still only superficial. It estimates that the potential market size is over 25 trillion US dollars, and evaluates key disputes such as comparison between AI and past technology trends, return on investment, barriers to adoption, and financing risks. The bank believes that challenges remain and believes that barriers can be overcome, but it is creating an uneven path for AI adoption. The bank believes that the “end of SaaS” statement is excessive; only weak software will be eliminated if the software is not dead; cutting-edge laboratories are more likely to cooperate with leading vendors rather than have a full stack. The bank is optimistic about companies that have advantages and can seize AI spending opportunities in the fields of computing, data, financial security, and applications. Preferred targets include Microsoft, Amazon, and Alphabet in large-scale platforms, while Oracle and CoreWeave can provide direct exposure to limited artificial intelligence computation. The bank is also optimistic about Snowflake and Dynatrace in the data/observability field, as well as Palo Alto Networks and Okta in the field of information security. Intuit is the bank's contrarian stock selection because compared to its almost 40 years of data accumulation, deep artificial intelligence talent pool, and apps with strong user stickiness, the market's concerns about artificial intelligence have actually increased excessively.

Jefferies published a report stating that the potential of artificial intelligence is still only superficial. It estimates that the potential market size is over 25 trillion US dollars, and evaluates key disputes such as comparison between AI and past technology trends, return on investment, barriers to adoption, and financing risks. The bank believes that challenges remain and believes that barriers can be overcome, but it is creating an uneven path for AI adoption. The bank believes that the “end of SaaS” statement is excessive; only weak software will be eliminated if the software is not dead; cutting-edge laboratories are more likely to cooperate with leading vendors rather than have a full stack. The bank is optimistic about companies that have advantages and can seize AI spending opportunities in the fields of computing, data, financial security, and applications. Preferred targets include Microsoft, Amazon, and Alphabet in large-scale platforms, while Oracle and CoreWeave can provide direct exposure to limited artificial intelligence computation. The bank is also optimistic about Snowflake and Dynatrace in the data/observability field, as well as Palo Alto Networks and Okta in the field of information security. Intuit is the bank's contrarian stock selection because compared to its almost 40 years of data accumulation, deep artificial intelligence talent pool, and apps with strong user stickiness, the market's concerns about artificial intelligence have actually increased excessively.