Liontree Weekly Update
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Liontree Weekly Update
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20252024

It remains a week-by-week market with ebbs and flows along with trade/economic headlines, and this week was another ebb higher (S&P 500 +1.5% and Nasdaq +2.2%) despite the very public spat between President Trump and Elon Musk.

Though the vast majority of TMT companies already reported, NVIDIA & Salesforce were major tech juggernauts who brought up the rear this week (and agentic AI was a huge focus among other things – see Theme #1 & Theme #2), not to mention the flood of consumer prints

AI, as usual, was front and center this week with Google’s I/O event headlining (see Theme #1). Not as often talked about though are the other costs of AI, with an important one being the energy needs required by the models to answer the billions of queries...