{"version":"market-claims.v1","claim":{"id":"mcl_6fbf434c4407c5a345","url":"/trace/claims/mcl_6fbf434c4407c5a345","status":"PUBLISHED","claimType":"DIRECTIONAL_THESIS","direction":"SHORT","claimText":"Software multiples slide further as AI agents threaten seat-based revenue, dropping a software basket that still trades richer than the chipmaker powering AI despite far slower growth.","confidence":0.72,"expert":{"slug":"altcap","displayName":"Brad Gerstner","kind":"PERSON","status":"UNCLAIMED","avatarUrl":"/api/avatars/746364e2-3","url":"/trace/experts/altcap","claimed":false},"primaryEntity":{"kind":"ASSET","assetClass":"EQUITY","symbol":"IGV","name":"IGV","exchange":null,"confidence":0.78},"evidence":{"evidenceUrl":"https://www.youtube.com/watch?v=sQVwLUxFdMY&t=7536s","sourceUrl":"https://youtube.com/watch?v=sQVwLUxFdMY","timecode":"125:36","startMs":7536000,"endMs":null,"excerpt":"So now they're trading at about 22, 23 times real, SBC included, GAAP earnings. That's about where the market is trading. Yeah. So now just follow me on this. Software is trading— most software names are trading at a higher multiple than NVIDIA. Yeah, right. NVIDIA is trading about 13 times earnings for 70% growth for the thing that is the most essential thing in AI."},"performance":{"entryPrice":101.6149978638,"currentPrice":null,"returnPct":null,"relativePct":null,"method":"PASTE_AUTHOR_PRICE"},"resolutionStatus":"OPEN","ambiguityNotes":null,"horizon":null,"isExplicitTrade":false,"notFinancialAdvice":true,"disclaimer":"AISO tracks public statements, not verified portfolio positions. This is not financial advice."},"expert":{"slug":"altcap","displayName":"Brad Gerstner","kind":"PERSON","status":"UNCLAIMED","avatarUrl":"/api/avatars/746364e2-3","url":"/trace/experts/altcap","claimed":false},"source":{"platform":"YOUTUBE","title":"John Gruber, Kyle Kuzma, Brad Gerstner","sourceUrl":"https://youtube.com/watch?v=sQVwLUxFdMY","publishedAt":"2026-05-29T20:05:47.000Z"},"evidence":{"evidenceUrl":"https://www.youtube.com/watch?v=sQVwLUxFdMY&t=7536s","sourceUrl":"https://youtube.com/watch?v=sQVwLUxFdMY","timecode":"125:36","startMs":7536000,"endMs":null,"excerpt":"So now they're trading at about 22, 23 times real, SBC included, GAAP earnings. That's about where the market is trading. Yeah. So now just follow me on this. Software is trading— most software names are trading at a higher multiple than NVIDIA. Yeah, right. NVIDIA is trading about 13 times earnings for 70% growth for the thing that is the most essential thing in AI.","quote":"So now they're trading at about 22, 23 times real, SBC included, GAAP earnings. That's about where the market is trading. Yeah. So now just follow me on this. Software is trading— most software names are trading at a higher multiple than NVIDIA. Yeah, right. NVIDIA is trading about 13 times earnings for 70% growth for the thing that is the most essential thing in AI.","speaker":"Brad Gerstner"},"entities":[{"kind":"ASSET","assetClass":"EQUITY","symbol":"IGV","name":"IGV","exchange":null,"confidence":0.78}],"marketData":{"entry":{"price":101.6149978638,"currency":"USD","observedAt":"2026-05-29T20:05:47.000Z","method":"PASTE_AUTHOR_PRICE"},"current":null,"returnPct":null},"snapshots":[{"kind":"ENTRY","symbol":"IGV","assetClass":"EQUITY","price":101.6149978638,"probability":null,"currency":"USD","provider":"paste.trade","providerSymbol":"IGV","observedAt":"2026-05-29T20:05:47.000Z","method":"PASTE_AUTHOR_PRICE","returnPct":null,"relativePct":null}]}