TTDThe Trade Desk, Inc.

“Audience Unlimited delivered 30% lower CPMs on media, 38% lower data costs, a 75% more efficient CPA, and a 2.7x increase in conversion rate compared to the control group. Most importantly, Audience Unlimited increased campaign performance while simultaneously reducing manual effort in the audience selection process.”

“about a decade ago, Google made the decision to stop sharing ad log-level data. It is actually in those insights, in that grain, where a whole bunch of companies can build. Of course, in order to be an AI company, you need a lot of data, and you need a lot of quality data. Because The Trade Desk, Inc. has historically always said to the biggest brands and to their agencies, we want you to keep your data, we want to make certain that we protect it. That is different than most of the big platforms who are asking brands and agencies to surrender their data and to pool their data with their other customers. We say all the time internally, things like data leakage are exponentially more expensive in a world of AI.”

“we recently had partnership discussions with a smaller AI-first company. While we have been partners for years, we are looking to expand now. And they shared a few things with us that I want to share today. One is that The Trade Desk, Inc. is the only company that gives them enough data from their buying to power their future. We are working together to further ensure they are getting all that they need to train their models while protecting the data of brands and consumers.”

“the opportunity for agentic is really to make optimizations and campaigns perform better. I think the optimization questions, which are much more about the variables and how you engage in the transaction, are more the issue being solved than the commercial terms, so to speak. I think there will be a lot of frameworks that are decided beforehand, then we will repeat that using agents millions, billions, even trillions of times subsequently.”

“One simple way to explain agentic AI is that it is a layer on top of the API that can reason—or, said simply, an API that can reason—while simultaneously creating productivity. What we started with Stagwell is the ability to create and edit campaigns in the most basic form. That will, of course, evolve into optimizations.”

“we announced the first of many partnerships with one of the up-and-coming large agencies, Stagwell. Our partnership is to leverage agentic AI to create, edit, and modify campaigns. After these basics, we will move to agentic optimizations.”

“currently 20 million ad opportunities every single second—and then choose carefully the 300 or 400 the biggest brands in the world should be buying. Agentic will facilitate that.”

“Samantha is taking a role at OpenAI. On a personal level, I am excited for her, and I am extremely confident in her abilities to have an impact there just like she has had here.”

“in order to make the most amount of money, it might, in some cases, need to include video. If there is a lot of compute cost that goes into that answer, it probably is somewhat correlated to the value of the response to the user, which might make it easier to put on the other side of a video. In both of those cases, I do believe that it can unlock a greater amount of TAM for the LLMs in the sense that they can participate in top-of-the-funnel activity and bottom-of-the-funnel activity, which is different than what search has done.”

“By this standard, we are also optimistic that the LLMs and AI search engines like ChatGPT, Perplexity, and Gemini will eventually unlock more inventory in the future. Because highly detailed prompts can create a willingness to see even video ads and higher levels of engagement that is way beyond what, quote, legacy search and keywords could provide, we are optimistic that, over time, the TAM that was once locked up by search will be unlocked by a more premium and more competitive environment.”

“I believe they are in a very similar position to Netflix in the way that we talked about them five to ten years ago, when I started asserting that they would eventually have to show ads even at times when Netflix was saying they were not going to show ads. I made that assertion in part because I knew how expensive their content was. The LLMs, chatbots, AI search companies have a very similar dilemma. They have very expensive content.”

“the chatbots and AI search engines. Linear television moving to CTV is still at the early stages alongside the rapid growth of retail media, and over time, the emergence of new high-intent search-like opportunities as AI reshapes legacy search. We believe these trends are big opportunities for The Trade Desk, Inc. and reinforce the long-term opportunity for our business.”

“we are extremely focused on improving the inputs that feed our objective AI-fueled advertising machine for buyers. Those enhancements include improving measurement, improving data-driven decisioning, improving data and price discovery of data itself, and making our supply chain to inventory and data more efficient.”

“They are investing in and leveraging AI tools like Koa. They are using and protecting their own data and leaning into the objective media buying platform at The Trade Desk, Inc. to make advertising dollars more effective and better distributed throughout the entire funnel.”

“all the innovations that we have injected into our platform and our partnerships brought to you via various forms of AI—maybe agentic being the one I am the most excited about—there is just so much opportunity ahead for us and the open internet.”

“With strong execution across key initiatives such as CTV, retail media, agentic AI, supply path optimization, and growth outside the U.S., we remain confident in our ability to capitalize on the significant opportunities ahead of us.”

“we continued to make investments in our team and platform, particularly in areas like platform operations as we optimize our platform infrastructure and implement more AI-powered tools in our platform.”

“I do not think there is an industry in the world that is better suited to be upgraded from agentic AI than programmatic advertising. I do think programmatic will benefit tremendously from agentic.”

“our objective position allows our AI models to evaluate every opportunity on its merits across the entire ecosystem and optimize purely for each advertiser's goal.”

“we will continue investing in areas where we see the highest long-term ROI, particularly around platform innovation, AI, retail media, and measurement.”

“We plan to be deliberate in prioritizing investments that directly support revenue growth and AI-driven innovation.”

“fixing open internet measurement is required for many AI-backed initiatives to work.”