Thursday 5 November saw the largest single-day destruction of value in US market history as the “AI trade” unwound. The WS Amati Global Innovation Fund has benefited from the AI investment boom, but its pragmatic approach helped protect investors from the worst of the recent sell-off.

In this edition of Amati Insights, Mikhail Zverev and Graeme Bencke reflect on the recent volatility in AI-related stocks and ask what it means for investors. They explore some of the risks surrounding AI valuations, infrastructure spending and adoption, while explaining why they remain pragmatic optimists on the long-term potential of artificial intelligence.

Looking beyond the most obvious beneficiaries of the AI boom, they discuss where the next investment opportunities could emerge, including IT services, Physical AI and industrial automation, as well as the potential for AI to transform drug discovery and laboratory automation.

Warning: Capital at Risk. Professional Investors Only