Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Software rebounded in August, outperforming Semiconductors. </li><li>The WTR AI Index rose 7.3% M/M, ahead of the S&amp;P 500 (up 2.6%), the Russell 2000 (up 0.9%), and the Nasdaq (up 4.2%).</li><li> Software (24% of the index) gained 11.0% while Semiconductors (18% of the index) slipped 1.2%, reversing the Semis-led pattern that has dominated most of 2026. </li></ul>

Software rebounded in August, outperforming Semiconductors. The WTR AI Index rose 7.3% M/M, ahead of the S&amp;P 500 (up 2.6%), the Russell 2000 (up 0.9%), and the Nasdaq (up 4.2%). Software (24% of the index) gained 11.0% while Semiconductors (18% of the index) slipped 1.2%, reversing the Semis-led pattern that has dominated most of 2026. 

AI Flow Index : Sailing a Sea of Companies in AI - 8 September 2026

<ul><li>Methodology. We reviewed 50 under-covered, AI-involved public companies (~$2.7 billion average market cap; about five analysts each) and their respective one-year market-cap changes.</li><li>We then mapped them to one or more of 11 AI application areas.</li><li>We also assigned each company a subjective “AI Centricity” score (1 to 10 scale) based on each company’s level of focus on AI. </li></ul>

Methodology. We reviewed 50 under-covered, AI-involved public companies (~$2.7 billion average market cap; about five analysts each) and their respective one-year market-cap changes.We then mapped them to one or more of 11 AI application areas.We also assigned each company a subjective “AI Centricity” score (1 to 10 scale) based on each company’s level of focus on AI. 

AI Industry Primer A Survey of 50 Under-Covered Companies in Artificial Intelligence (AI)

United States

Tempus AI, Inc. operates as a clinical laboratory. The Company provides genomic sequencing services and analyze molecular and therapeutic data to help physicians to make real-time and data-driven decisions.Tempus AI serves customers in the United States.

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Tempus AI (TEM US)

AI Flow Index : Sailing a Sea of Companies in AI - 8 September 2026

The move mirrors better-than-expected 2Q results across the software group and some easing of near-term fears about AI disruption to application...

Water Tower Research

AI Industry Primer A Survey of 50 Under-Covered Companies in Artificial Intelligence (AI)

Methodology. We reviewed 50 under-covered, AI-involved public companies (~$2.7 billion average market cap; about five analysts each) and their...

Water Tower Research

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52-week Range

Market Cap (USDm)

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