Paul Tudor Jones said the artificial intelligence-fueled bull market still has further to run, adding that he recently bought more related stocks as he looked for parallels to earlier tech booms.
The billionaire hedge fund manager said recent advances in AI resemble the emergence of transformative technologies such as Microsoft’s early software dominance in the 1980s and the commercialization of the internet in the mid-1990s, periods that ushered in years of productivity gains and market upside.
“I kind of think Claude, January of this year, would be the equivalent of when Microsoft came out in ’81,” Jones said on CNBC’s “Squawk Box” Thursday.
Jones, founder and chief investment officer of Tudor Investment, compared the current phase of AI adoption to 1995, when commercial use of the internet accelerated alongside the launch of Windows 95.
“Those were both the beginning of productivity miracles that lasted four to five and a half years,” Jones said. “We’re kind of, I’d say, 50 or 60%. If I had to pick a period, we’ve got another year or two to run.”
