LONDON - Experienced tech investors are hunting for undervalued opportunities in an over-valued space. At stake is how best to invest in the potential of Artificial Intelligence (AI), which took a leap forward in November when Microsoft-backed OpenAI released its ChatGPT bot, without buying into a bubble. Shares in Nvidia, which makes computer chips that train AI systems, have almost...
LONDON - Experienced tech investors are hunting for undervalued opportunities in an over-valued space.
Shares in loss-making AI software company C3.AI, which grabbed the stock ticker, have risen 149 per cent this year and Palantir Technologies, which has launched its own AI platform, is up 91 per cent year-to-date. The question for investors is whether to jump on the AI train now, or exercise caution, especially given mounting concern amongst regulators about the technology's potentially disruptive impact.
She favours big tech groups like Microsoft and Alphabet because they have "strong balance sheets", that make them "able to invest in many different technology advances", including their recent focus on AI.Dizzying valuations have made some investors wary of the technology hype cycle. This concept, popularised by consultancy Gartner, starts with a trigger, such as the launch of ChatGPT, followed by inflated expectations and then disillusionment.
For example, AI systems require huge volumes of data to analyse and learn from, but just one per cent of global data is currently being captured, stored and used, according to Bank of America.
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