Investment Insights

🔄 The Shift: US Cools, Asia Heats Up 2025 changed the narrative. For years, US stocks dominated. But 2025 told a different story. 2025 Performance: Market Result South Korea Top 3 performer Brazil Top 3 performer Hong Kong Top 3 performer US Outperformed only from April post-selloff reversal The message: Asia led. The US only won when measured from the April bottom. 📊 Structural Cause: Manufacturing vs Services Valuation Reversal The AI Value Chain Division AI Value Chain: US (Model/Software): ├── Model development (OpenAI, Anthropic) ├── Chip design (Nvidia, AMD) ├── Cloud platforms (AWS, Azure, GCP) └── Enterprise software Asia (Manufacturing/Infrastructure): ├── Semiconductor manufacturing (TSMC, Samsung, SK Hynix) ├── Energy infrastructure (batteries, grid) ├── Cost-efficient model deployment └── Data center hubs (Singapore, Malaysia) Fidelity’s insight: ...

🔄 The Shift: What’s Happening We assumed AI would automate physical labor first. Instead, it’s automating cognitive labor—precisely what made white-collar work “safe.” The numbers are stark: Prediction Source “Every white-collar task automated within 18 months” Microsoft AI Chief Mustafa Suleyman “AI will replace half of white-collar workers” Ford CEO Jim Farley Entry-level white-collar jobs could be halved Anthropic CEO Dario Amodei 92 million jobs displaced by 2030 Research forecast But here’s the counter-trend: ...

The Question Nobody Wants to Ask 🤖 AI agents already trade stocks, manage portfolios, write code, create content, and execute transactions. They generate real economic value. But can they be economic entities? Can they own property, enter contracts, be held liable? These aren’t philosophical questions anymore. They’re practical ones that our legal system will be forced to answer. The Reality Today ⚖️ Legal Vacuum Currently, AI agents exist in a legal void: ...

The Crossing Point 📊 In 2025, something quietly historic happened in the United States: construction spending on data centers surpassed general office building construction. This wasn’t headline news. But it should have been. It marks a fundamental shift in how civilization allocates capital, space, and resources. We’re not just building digital infrastructure—we’re building it instead of physical infrastructure. The skyline is changing. Office towers give way to server farms. ...

The Paradox We Face 🔄 The global energy market is trapped in a bizarre contradiction. Households and businesses suffer from rising energy prices and climate crisis anxiety. Yet behind the scenes, thousands of gigawatts of clean energy sit dormant—waiting for grid connection. In the United States alone, 2,600GW of new generation projects sit in interconnection queues. This isn’t an administrative delay. It’s a systemic market failure—an extraction-based paradigm unable to absorb creation-based technologies growing exponentially. ...

🧬 The New Reality of AI Biotech Generative AI and DeepMind’s innovations have completely transformed the biotech industry. Looking at what small and mid-sized AI biotech companies like AbCellera Biologics are facing, the survival rules of the AI era become crystal clear. ⚡ The Perfect Storm Facing AbCellera 1. Big Pharma’s Direct Investment Rush In 2026, major pharmaceutical companies completely changed their AI investment strategy. Partnership Details Eli Lilly + Chai Discovery Multi-target biological drug design platform GSK + Noetik $50M upfront for cancer prognosis prediction foundation model Pfizer + Boltz Exclusive model development for small molecule discovery Big Pharma is now skipping the “middleman” and partnering directly with AI platforms. The space for mid-sized biotechs like AbCellera is rapidly shrinking. ...