TMT Special Sales: Snowflake, Salesforce, Capgemini, and ASML Market Update

Snowflake's stock surged 37% on raised AI-driven guidance, while Salesforce lagged due to light Q2 outlook. Major corporate moves include Uber increasing its Delivery Hero stake and the UK government limiting billionaire involvement in BT.

Key Takeaways

• 1.Snowflake's Q1 results and raised guidance (31% growth for FY27) contrasted with Salesforce's mixed guidance, highlighting a market preference for consumption-based AI platforms.
• 2.Capgemini's Capital Markets Day focused on 'Agentic AI' as a growth engine, though investor feedback remained split between skeptical hedge funds and constructive long-only investors.
• 3.Uber increased its stake in Delivery Hero to nearly 37%, positioning itself to block rival acquisitions while staying below German foreign investment review thresholds.

Table of Contents

• TODAY'S WRAP
• TECH
• TELCOS
• MEDIA & INTERNET
• MACRO AND TRADING
• 2026 EMEA Conferences
• 2026 Conferences
• TMT RESEARCH TEAMS

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