• Intrepid SS Newsletter November 2025 Page 1 Weather ReportYoY FCF growth for tech companies is up 60%. That level of financial strength is enabling bold moves in innovation and strategic acquisitions across the software landscape.
  • Private equity drives over 30% of global deal volume – up 9% in the last 2 years, backed by $2.5 trillion in dry powder. Software firms with scalable models and recurring revenue remain top targets as PE looks to deploy capital before year-end.
  • Global data center capacity is projected to nearly triple by 2030, with 70% of that demand driven by AI. This massive infrastructure expansion, and the energy costs it entails, create a significant opportunity for software companies to develop solutions that optimize compute efficiency and reduce operational expenses.

 

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