Asks if recent drops in high-value tech stocks entice a long-term investor.
Romaine Bostick
Ankur Crawford
Depends on the part of tech. Software not as enticing as AI infrastructure. AI thesis holds whether there's war or not—demand fundamentals are numbers going up.
Clarifies: Middle East events do not change long-term market thesis.
Romaine Bostick
Ankur Crawford
Doesn't change long-term thesis on technology and AI build, but adds a layer of uncertainty to market perspective.
Asks about surprising moves in traditional haven assets (gold, bonds) not behaving as hedges.
Katie Greifeld
Ankur Crawford
There have been surprising moves: bond yields sticky and up 20 bps since war began; gold coming off after big move may need to rest.
Asks what stagflation environment means for tech sector, often seen as macro agnostic.
Katie Greifeld
Ankur Crawford
Not all tech is macro agnostic. Economically sensitive parts (traditional semis, enterprise software) will be pressured by slower growth.
Asks about cracks in the AI build independent of war, citing Oracle pullbacks.
Romaine Bostick
Ankur Crawford
Demand for compute is insatiable. Oracle pullback is a function of financing; OpenAI jitters are short-term issues.
Asks about opportunity in consumer AI vs. enterprise-focused names.
Katie Greifeld
Ankur Crawford
Consumer AI will grow, may pause, then grow with functionality. Both consumer and enterprise will see massive inflection.