AI, the Playground of Active Management

KEY POINTS

  • Massive increase in capex : from 400 USD to 660 billion USD (2026), then 1000+ billion USD (2027) The four largest US hyperscalers are already exceeding initial forecasts. Nvidia even anticipates 3 trillion USD to 4 trillion USD by 2030.
  • Agentic AI as a major turning point. The shift from chatbots to AI capable of executing tasks and producing concrete work creates a real potential for return generation. Companies are increasing their investments because they “perceive real potential”.
  • Favourable environment for active management. We will see significant disruptions with many winners and losers, creating an environment particularly favourable to active management.

Disruptive Technology Strategy

Important information

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