TECH - Third Point's AI Focus Pays Off As Investments in Alphabet and TSMC Propel Q1 Growth | Benzinga
Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Taiwan Semiconductor Manufacturing Co (NYSE:TSM), and London Stock Exchange Group saw increased investments from Third Point LLC due to their AI-driven opportunities.
Daniel Loeb, founder and CEO, highlighted its significant distribution and technological edge over competitors. In his investor letter, Loeb praised Alphabet’s ability to leverage AI to improve and monetize its product suite.
Additionally, Third Point increased its stakes in Taiwan Semiconductor Manufacturing Co. and London Stock Exchange Group, which were attracted by AI-driven opportunities, Bloomberg reports.
Despite underperforming the broader market, with a 7.8% gain compared to the S&P ...