BlackRock and Blackstone outline next ‘enormous’ opportunity in AI

Posted by Anton Murray Consulting on 8 May, 2024

InvestorDaily

Enthusiasm for artificial intelligence (AI) in 2022 helped markets defy expectations, with returns exceeding 55 per cent from the Nasdaq-100 and 26 per cent from the S&P 500 in 2023 as investors pursued exposure to the technology trend. Nvidia, an unexpected winner from the AI boom, reported a remarkable 22 per cent quarter-on-quarter earnings growth in its latest February results, marking a staggering 265 per cent increase from the previous year. Similarly, others like Microsoft have benefited from conviction around enhanced productivity and cloud computing, reporting revenue of US$62 billion in the second quarter of FY23.

In this context, it‘s no surprise that some of the world‘s most prolific asset managers are closely attuned to the AI boom, recognising “enormous” opportunities for investment in the years ahead. During a keynote speech at a conference in Melbourne this week, Blackstone chief executive and co-founder Stephen Schwarzman highlighted an “explosion” in the construction of data centres, essential infrastructure for enabling the development of artificial intelligence. “This is like something I’ve never seen,” he said.

The rest of this article can be found at investordaily.com.au

Latest market insights

Funds’ views on superannuation performance test enhancement diverge

› Read more

The war on ESG: An evolving quagmire of arms investments

› Read more

BlackRock and Blackstone outline next ‘enormous’ opportunity in AI

› Read more

Pinnacle to launch second UK affiliate

› Read more

Super fund returns could hit double digits for FY24

› Read more

X feed

The successful candidate for this role will provide consulting services to hiring managers and advise on hiring strategies: https://ow.ly/5k4l50RGE8G

We are seeking articulate and confident candidates who are eager to work in an HR/recruitment related position. With Anton Murray Consulting you can be rewarded based on hard-work and your capacity to generate revenue for our business: https://ow.ly/Cue250RCYE6

A leading global financial services firm is seeking a contractor initially for 12 months to join their operations department focused on Global Payments & Treasury Services Operations: https://ow.ly/1rLq50RCXVR

Funds’ views on superannuation performance test enhancement diverge: https://ow.ly/QtfK50RCY0K

Sign up to our newsletter

Sign up to our newsletter

"*" indicates required fields

By subscribing to our newsletter I agree to the collection, use and disclosure of my personal information in accordance with our Privacy Policy