Summary

• As agents complete tasks, consumer execution platforms may capture value alongside chip and cloud companies.
• Embedded payments and logistics matter more when AI handles discovery and front-end experience matters less.
• GENZ holds the consumer platforms where AI agents may initiate and complete transactions on behalf of users.

AI is shifting from apps to agents. The platforms built for execution, payments, delivery, and digital commerce may be where AI goes to work next, and where investors should look.

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