Based solely on the provided article, Fortinet (FTNT) and Microsoft (MSFT) are two direct ways to own exposure to AI-driven software demand. Fortinet stock returned over one hundred percent in the last three months while Microsoft has been relatively flat. Despite Fortinet’s impressive run, a forward-looking analysis shows Microsoft currently offers a more compelling setup, as the high-flying stock is actually growing slower and costs significantly more. Fortinet management recently raised its full-year 2026 guidance for billings, revenue, and service revenue, citing “strong results and confidence in the business.” Microsoft did not issue a formal guidance change but projected strength, with its CFO stating, “we expect another year of double-digit revenue and operating income growth in FY ’27.” Fortinet’s management sees AI as a “tailwind to drive the growth,” highlighting wins securing new AI data centers and a surge in its OT security business, with billings growth of over 70%. Microsoft’s AI business has already surpassed a “$37 billion ARR, up 123%,” and its Copilot family of products now has over “20 million Microsoft 365 Copilot paid seats.” Fortinet’s moat is its unified platform, built on a “single FortiOS operation system” and its proprietary FortiASIC technology. Microsoft’s moat is its entire ecosystem, with “1.6 billi