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    Deepak Mathivan

    Research Analyst at Wolfe Research

    Deepak Mathivanan is a Managing Director and Senior Internet Research Analyst, most recently at Cantor Fitzgerald, specializing in large-cap and SMID cap internet companies with a strong focus on the online travel sector. He covers major firms such as Expedia, Booking Holdings, and other key internet players, having delivered top-ranked investment research that positions him among the top 5 differentiated analysts in the sector, with recognized success in stock selection and industry insights. Mathivanan’s career began with roles as an associate at Susquehanna International Group, a Vice President at Deutsche Bank Securities, and a Senior Analyst at Barclays Capital before joining Wolfe Research as a Director in early 2021, then moving to Cantor in July 2024. He holds FINRA registration and maintains core securities licenses, underscoring his professional credentials and reliability in equity research.

    Deepak Mathivan's questions to Spotify Technology (SPOT) leadership

    Deepak Mathivan's questions to Spotify Technology (SPOT) leadership • Q2 2025

    Question

    Deepak Mathivan asked how Spotify is leveraging recent advancements in LLMs with reasoning capabilities in its core product and what long-term investments are being made beyond recommendations.

    Answer

    Gustav Söderström, Co-President and CPTO, explained that the company is retooling its entire tech stack for a 'generative age' to create an 'agentic infrastructure.' He highlighted that LLMs, unlike older AI, improve with more data and usage (scaling laws), creating a virtuous cycle where Spotify's high engagement leads to a faster-improving product, which he described as a key strategic advantage.

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