All themes
Artificial intelligence
485 managers wrote about this in 1407 letters. Every passage below is copied verbatim from the letter it came from.
Share of letters mentioning it
- 2024 Q453% of 30
- 2025 Q160% of 40
- 2025 Q257% of 88
- 2025 Q376% of 88
- 2025 Q471% of 129
- 2026 Q173% of 137
- 2026 Q266% of 709
- 2026 Q363% of 863
- 2026 Q466% of 73
- Platinium AM Platinum TrustOct 2026
What Korean War dogfights tell us about investing in the age of AI During the air battles of the Korean War, Soviet-made MiG-15 fighters could climb faster, fly higher and hit harder than the USA’s F-86 Sabre.
Read the letter → THE MANIC RUSH Case study of AI capital expenditure The artificial intelligence boom may be the biggest surge in capital expenditure on record.
Read the letter →- Osprey Private WealthOct 2026
Chart 1 Chart 2 3 Q: Can you share your current thinking on the controversies surrounding Artificial intelligence (AI)?
Read the letter → - AcatisOct 2026
In segments where share prices came under pressure due to concerns about the upheaval caused by artificial intelligence or general market weakness (e.g. Allianz, Booking Holdings or Infineon), we saw advanta- geous entry opportunities at companies whose operations continue to be robust.
Read the letter → - WS Lindsell Train UK Equity FundOct 2026
To consider that, it is important to place these share price moves in the context of investors’ changing perspectives on the AI phenomenon.
Read the letter → - Equinova Investment Managers PMS PortfoliosOct 2026
Reason 1: Artificial Intelligence (AI) infrastructure capex has grown too fast and is set for Mean Reversion; ROI on these investments is now coming to hound investors; initial outflows have already started from AI related stocks and markets The strong and sustained performance of AI-related equities in different markets, continues to attract a disproportionate share of global capital.
Read the letter → The company has been deepening and strengthening its three key moats: • Proprietary data: SandboxAQ has developed interfaces to make its proprietary models easier to access through familiar Large Language Model (LLM) AI channels, including Claude, Google, and AWS Marketplace.
Read the letter →- Malborough US Focus FundOct 2026
Importantly, despite continued investments in artificial intelligence (AI), Microsoft is managing its cash flow better than other hyperscalers, even reducing capex for the remainder of 2026.
Read the letter → - Somma Investimentos FundsOct 2026
In the international scenario, the main highlight was the increase in investors' concern about the ability of technology companies to make the high investments made in Artificial Intelligence profitable.
Read the letter → OCTOBER 2026 • PARTNER LETTER The ick of AI- generated communication OCTOBER 2026 • WRITTEN BY PONTUS DACKMO Over the past few months more of what fills our inboxes, from the dozen or so banks and brokers we do business with, has gotten a tinge of – let’s call it – “AI-assistance”.
Read the letter →- Loomis SaylesOct 2026
PAGE 7 Global Equities US growth equities appear attractively valued, with the AI investment cycle potentially providing a tailwind through 2027.
Read the letter → - BlueBox Global Technology FundOct 2026
These concerns broadened out with the start of reporting season, as the free cash flow of all hyperscalers bar Microsoft has turned negative due to their AI investment.
Read the letter → - Hennessy Japan FundOct 2026
Geopolitical tensions in the Middle East resurfaced following a U.S. military strike on Iran, while higher crude oil prices and rising long-term interest rates globally weighed on investor sentiment, leading to declines in artificial intelligence (AI) and semiconductor-related stocks.
Read the letter → - KNA Capital Core Equity StrategyOct 2026
The Strategy is not intentionally built to be “anti-AI” or anything similar – my goal is to buy quality companies at a good price and then be patient – but in recent quarters, the Strategy has tended to do well when AI stocks struggle, and vice versa.
Read the letter → The stark divergence between equity and credit markets treatment of the AI trade is unsustainable in our view.
Read the letter →AI-linked hardware sold off sharply, whilst software related names rallied.
Read the letter →- Beck Mack & OliverOct 2026
There are today many unresolved debates about AI, but one incontrovertible fact is that several of the companies involved in the infrastructure buildout are not generating enough cash flow to fund their investment plans.
Read the letter → - Avity Investment Management PerspectiveOct 2026
Economic activity expanded at an annualized pace likely exceeding 3%, supported by substantial investment in artificial intelligence infrastructure, improving productivity and durable household spending.
Read the letter → - CDT Capital VNAVOct 2026
Evidently, a broken market structure no longer reflects the health of the median stock, but the level of market interest around SI/AI.
Read the letter → - Malborough Multi-Cap GrowthOct 2026
The month was characterised by rising government bond yields, elevated energy prices and the arrival of agentic artificial intelligence (AI) in the mainstream, with the launch of Meta Muse.
Read the letter → - Jacob Funds ManagementOct 2026
At the same time, rising public scrutiny around data center expansion and broader anxieties regarding AI's emergence have tempered some of the unbridled sentiment seen earlier in the year.
Read the letter → - Pender Market InsightsOct 2026
There are several reasons for this reversal, but much of the blame can be pointed at artificial intelligence.
Read the letter → - IKIGAI Asset Manager Emerging Equity Fund and Small Cap FundOct 2026
AI-related issuance now accounts for 54% of all net IG (Investment Grade) issuance, up from effectively zero in 2024, and totals roughly $466 billion across global credit markets this year.
Read the letter → The NASDAQ was down 5% and the KOSPI – which has become a proxy for the AI/data centre thematic was down peak to trough 20% during the month before a modest recovery.
Read the letter →- Bailador Technology InvestmentsOct 2026
The recent decline in shareholder returns are driven by software technology sentiment this calendar year, largely uncertainty around AI.
Read the letter → - Greystone Capital ManagementOct 2026
With the vast majority of market participants single-mindedly focused on a small group of companies tethered to the artificial intelligence build-out, capital concentration has reached levels not seen since the early 2000s. Consequently, high-quality businesses in more cyclical or traditional industries are being treated as relics, discarded simply because they lack an AI narrative.
Read the letter → - Troy Multi-Asset StrategyOct 2026
For a few years now, two investment narratives have been in place; the AI-driven boom, benefiting inter alia the ‘picks and shovels’ of information technology hardware, a notoriously cyclical sector.
Read the letter → - Mitsubishi UFJ Asset Management Co. Global Fixed IncomeOct 2026
The savings glut (China’s domestic consumption woes, Europe’s high savings rate) remains but the demand for investment has increased with AI being very prominent here.
Read the letter → - TIN SmåbolagOct 2026
The big debate in the market concerns partly the investment cycle driven by AI development and (related to this) positioning in hardware versus software.
Read the letter → - Abaco Capital Global Value OpportunitiesOct 2026
To this is added artificial intelligence: the large technology companies issued some 220 billion dollars in bonds in the first half of this year, double that of all of 2025, and equity issuance is advancing at an annualized rate close to 1.8 trillion dollars.
Read the letter → - Alta Capital Management LLC/Oct 2026
Businesses benefiting from the Artificial Intelligence (AI) buildout continued to drive strong growth in corporate earnings, while rising interest rates weighed on valuations and sentiment.
Read the letter → - Rhenman Healthcare Equity L/SOct 2026
A lukewarm reception of reports from the larger tech companies, together with concerns about the financing of the AI buildout, was the primary cause.
Read the letter → - Liontrust UK Opportunities FundOct 2026
We think AI will change the world, leading to higher productivity and (hopefully) better outcomes for all.
Read the letter → The reasons given by markets have ranged across a collection of the usual suspects: inflation, fiscal policy, monetary policy, ‘AI-hyperscaler’ issuance, the energy market to name but a few.
Read the letter →In the meantime, neglected companies from unloved corners of the market, written off as slow growers, or worse ‘AI losers’, have hit valuations so divorced from their underlying fundamentals they’re often hard to rationalise.
Read the letter →- SageOne Investment Managers SLMPOct 2026
Tariffs, the onset of the Middle East conflict, a sharp rise in crude oil prices and growing concerns around AI and its potential impact on India, had created a long list of reasons for investors to remain cautious.
Read the letter → - Lowell Resources FundOct 2026
Hyperscaler spending plans imply copper demand for AI infrastructure would reach as much as 3 million tons in two years, according to Trafigura Group’s head of industrial metals analysis • BHP reported copper production in the three months to September was down 19% on a year earlier, although seasonally the September quarter is heavily impacted by maintenance.
Read the letter → - Asia Frontier Capital AFC Vietnam FundOct 2026
Samsung Electronics plans to invest approximately USD 4.1 bn in memory-chip testing facilities in Thai Nguyen, while Samsung Electro-Mechanics plans a further USD 1.8 bn investment to expand production of advanced FCBGA semiconductor substrates used in AI servers and high-performance computing.
Read the letter → Inflation and the prospect of further Reserve Bank of Australia (RBA) rate rises remained in focus, while concerns around the funding and capital intensity of artificial intelligence (AI) investment weighed on global semiconductor and data centre stocks.
Read the letter →In September alone, the Nasdaq Composite advanced 1.9%, supported by concentrated earnings growth and continued capital expenditure across the AI ecosystem, whereas the equal-weighted S&P 500 fell 4.8%.
Read the letter →
Showing the 40 most recent of 1407 letters.