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.
"There's a question about where we are in that curve with AI, where the hype is so visible," said Mark Hawtin, investment director at GAM Investments."There are ways to get exposure to the theme without picking something that is highly valued."Janus' Porter recommended backing proven companies that may be"big beneficiaries in terms of providing infrastructure," for future trends in generative AI that, as of now, are unclear.
Hawtin's funds hold Seagate Technology, which makes hard drives and data storage products, and chipmaker Marvell Technology for this reason, he said.
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