January 2024 / EQUITY
Tech Tour Insights: What's Next for AI Investing?
Listen to our panel of technology portfolio managers discuss key takeaways from their annual trip to Silicon Valley.
Summary
Each year for nearly two decades, a large group of T. Rowe Price portfolio managers and analysts have traveled to Silicon Valley to meet with top executives of leading and emerging technology companies. Despite many supplemental trips, the annual tour to what remains the global center for high technology and innovation continues to be one of our most energizing and collaborative outings.
Following the launch of ChatGPT in November 2022, this past year saw the explosion of artificial intelligence (AI) investing across the technology sector. AI enthusiasm materially contributed to stock market returns in 2023, as the market became optimistic on the productivity gains this transformative technology can have across the global economy.
As we think about the future of technology investing in 2024, we appreciate that investors will be addressing crucial questions, such as:
- How long can AI continue to grow, and how do companies monetize this newer technology?
- Where are investment opportunities in technology outside of the AI space, including software, e-commerce, electric vehicles, and video on demand?
Listen in, as our panel of technology portfolio managers – Dom Rizzo, Jim Stillwagon, and Tony Wang – discuss takeaways from their annual Silicon Valley trip and debate what is next for investing in this rapidly evolving sector.
IMPORTANT INFORMATION
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January 2024 / FIXED INCOME
Dominic Rizzo is the portfolio manager of the Global Technology Equity Strategy. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price International Ltd.
Jim Stillwagon is a portfolio manager in the U.S. Equity Division. He is the president of the US Communications and Technology Strategy and is the chairman of the strategy’s Investment Advisory Committee. He also is a vice president and an Investment Advisory Committee member of the Science & Technology Equity, US Large-Cap Core Growth Equity, US Structured Research Equity, US Tax-Efficient Multi-Cap Growth Equity, and Institutional Large-Cap Core Growth Equity Strategies. Jim is a vice president of T. Rowe Price Group, Inc.
Anthony Wang is the portfolio manager of the Science & Technology Equity Strategy, which includes the Science & Technology Fund, in the U.S. Equity Division. He is an Investment Advisory Committee member of the US Structured Research Equity, Science & Technology Equity, Global Technology Equity, US Large-Cap Core Growth Equity, US Dividend Growth Equity, US Structured Active Mid-Cap Growth Equity, and Tax-Efficient Equity Strategies. He is a vice president of T. Rowe Price Group, Inc.
Jennifer O’Hara Martin is a global equity portfolio specialist in the U.S. Equity Division. She is a member of the Global Growth Equity, Global Focused Growth Equity, Global Technology Equity, Communications & Technology Equity, and Science & Technology Equity Strategy teams. Jennifer is a vice president of T. Rowe Price Group, Inc.