AI Trade Is Over
Speaking with Anthony Pompliano in a podcast on July 25, Visser noted AI remains a transformational investment theme, but the opportunity to generate seven- or eightfold returns from simply owning the sector’s most obvious winners has likely passed.
Visser added that investors are entering a more difficult phase of the AI cycle, where returns will depend on identifying companies with durable infrastructure, access to capital and real competitive advantages.
"The AI trade’s over," Visser said, clarifying that he did not mean AI itself was finished.
Visser says he believes returns of around 30% annually from AI infrastructure investments could still be attractive.
