Pershing Square Challenge 2026 finalists pitch Amadeus $AMS | the toll booth on global travel

YAVP #397

Amadeus $AMS is down roughly 25% because the market lumped it in with the SaaS names AI is supposed to gut. Team Amadeus (see their pitch deck here), Pershing Square Challenge finalists, argue it's the opposite: a deterministic, mission-critical monopoly that AI makes more valuable, not less. We dig into the 50-year-old systems that planes literally can't take off without, why the GDS is the wrong job for an LLM, the Sabre and Constellation Software angle, and what the stock is actually worth.

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Transcript for paid subs begins below (The initial transcript is AI-generated and is replaced with a professionally edited version when available)

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