Below is an extract from James Thomson’s Chanticleer article “How Sydney fundie caught AI wave” which was originally published in the Australian Financial Review on 19 May 2023. For the original article, please click here.
The article discusses the artificial intelligence (AI) boom that is sweeping global financial markets. In the article, James quotes Loftus Peak’s CIO Alex Pollak as saying how Loftus Peak has long been “banking on a world that requires more and more sophisticated data to be able to be manipulated at higher and higher speeds” and highlighting some of the different investments that flow from that. And further, that Alex believes AI has the potential over time to transform the global economy, quoting Derek Thompson who argued in the Atlantic that AI could prove to be, like the steam engine, a “lever for detaching economic growth from population growth.”
In the article when discussing the movement and management of data required for artificial intelligence, James refers to “the specialist chips and equipment required to move that data (including Nvidia and AMD)”, and the “firms best placed to help manage that data (such as Microsoft and Amazon, with their huge cloud-computing businesses)”. Many of the companies which have benefitted from the rise of artificial intelligence have been held by Loftus Peak since inception and will continue to play a critical role as the scope of AI applications increase.
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