Morgan Stanley-Thematics Venture Vision AInt Seen Nothing Like It-106870297

MMarch5,202402:00PMGMTGlobalFoundationThematicsMorganStanley&Co.Internationalplc++44207425-0840+44207425-9902VentureVision:AIn'tSeenEdwardStanleyNothingLikeItEquityStrategistEdward.Stanley@morganstanley.comMatiasOvrumEquityStrategistMatias.Ovrum@morganstanley.comInspiteofCrypto'sresurgence,AIisstillthetopicoftheOurVentureVisionweeklieslookat(1)early-momentatourTMTconference.Thecosttoscaleandthepointstagecross-themefundingpatterns;(2)inthecyclemeansthisthemeismoreconcentratedinprivaterelativevaluationsbetweenthemes;(3)publicmarketsthananybeforeit.MoresothanevenMobilepost-versusprivatevaluations;(4)theresultingiPhone.anomalieswithincertainthemes.PleaseletusknowifyouwouldlikeourexceldatabaseofWithourTMTconferenceinSanFranciscoongoing,weprovideashorterupdatein>45,000VCdealscategorisedbytheme,chartformontheconcentrationriskintheAItheme-bothpublicandprivate.Acountry,valueanddate.Wealsosendthisfileasgrowingdrum-beatofcomparisonstodot-comfrothinpublicmarketstocksappearsaweeklydistributionifyouwouldliketoreceiveoversimplistic.However,giventhepullbackinthewiderprivatemarketscombineditregularly.Seehereforourglobalmarketwiththeupfrontcapitalrequirementstoscaleupfoundationalmodels-orthefine-synopsis.Seehereforourlongeranalysisonthetuningthereof-meanstheconcentrationinprivatemarketsisunlikeanythinginstateoftheVCmarket,part...