Vista Equity's Robert Smith on agentic AI, bubble fears and private equity in 2026

Robert F. Smith, Founder and CEO of Vista Equity Partners, sits down with Carolin Roth at the CNBC House in Davos to discuss his latest investments in agentic AI and enterprise software. He highlights where he sees bubble‑like behaviour in parts of the AI market, and there's still meaningful upside. Smith also outlines his investment outlook for 2026, despite the sharp geopolitical and market volatility seen in the early weeks of the year.