M&L Capital (AIFM for Manchester & London IT Plc)

$MNL half-year investment return -1.4% dragged down by fall in Microsoft $MSFT which the manager had slashed from 21.8% to 4.8% and is now 0.5%. A 20p interim dividend up from 7p declared in line with new 40p policy to compensate for the hold in buybacks. londonstockexchange.com/news-article/M…

Half-year results from Manchester & London $MNL held 43.6% in Nvidia at 31 Jan with fund manager Mark Sheppard @mlcapman predicting shares in $4.4trn AI chip maker could reach $500. That’s 2.7x current $NVDA $182 price. Like rival $PCT, MNL is all-in on finding AI winners. 1/2

Let's hope they dont listen as they rarely do and BUILD out all their own DCs and Ai Labs => more Compute Demand. European businesses warn Brussels over push to end reliance on US tech ft.com/content/95fe93… via @ft

How long before we see these guys on the ground in Iran patrolling the South Iranian coast?

Good news. Right Move✅

@nfrosinha Agreed, headlines are always a reliable counter indicator.

@MLCapMan Barron's cover: ready for the AI battle ?

He is correct, it is China is destroying Western jobs, not AI! China’s growth target is a global problem via @FT giftarticle.ft.com/giftarticle/ac…

PROFESSIONAL NEWS ALERT: As we have said a couple months ago, NVIDIA GPU rental prices are rising rapidly again and capacity is being sold out. Between mid 2024 to Q3 2025, it was an customers market for compute where customers were able to neogigate low prices & favourable terms with Neoclouds. But due the surge of demand of agentic coding & increase in DRAM pricing, Customers no longer have as much negotiating power.

McKinsey reckons sovereign AI could account for $600bn of annual spending by 2030...if Nvidia captured a quarter of that potential physical sovereign spend, at its current 75 per cent gross margin, its earnings would increase by roughly half. Sovereign AI is a bet on the economies of anti-scale ft.com/content/7938e6… via @ft

“We assume very dramatic continued declines in search traffic, to the point where in a couple of years it’s just not a meaningful driver of our traffic,” Lynch told the FT. Condé Nast CEO says AI is a ‘death blow’ to Google search ft.com/content/5a2a1f… via @ft

Huang has called robotics a “multitrillion-dollar opportunity” creating the “largest technology industry the world has ever seen”. He keeps saying but this no-one listens, just like when he said it about Ai. Nvidia and ABB launch partnership for AI-enabled autonomous robots ft.com/content/c77d99… via @ft

"Asset managers including Carlyle and CVC agreed to give UBS a slice of their performance fees when the bank funnels wealthy clients towards private funds" Do their clients know this? UBS’s new private equity deals confront an old problem ft.com/content/c2f4d5… via @ft

"Copilot has had an underwhelming run...The software company recently revealed user numbers for the first time, with only 15mn paid seats, or about 3 per cent of Office users." Woeful because its rubbish! ANTH are killing MSFT! An uncomfortable truce in the AI platform wars ft.com/content/976dc9… via @ft

We saw these guys just 2 weeks ago and they said they don't expect their clients to cut seats, then.... Atlassian cuts 10% of workforce to adapt to AI threat ft.com/content/cc10ad… via @ft

Barclays' model shows AI spending cycle is far from peak. That means Nvidia shares are too cheap cnb.cx/4s8z95E

Newsletter: Our findings from Morgan Stanley TMT and our predictions. mailchi.mp/mlcapman/tmt20…

Era of Ai: Phase of the Agents. In full flow… Adapt or Die!

We warned so many times! If you hold this toxic junk. Exit ASAP. Pushing private assets: are Europe’s investors at risk of a mis-selling scandal? via @FT giftarticle.ft.com/giftarticle/ac…

NOT BULLISH for MSFT. BULLISH for ANTH. While Copilot is using Claude’s "brain" for certain tasks, the "hands" (connectors) are still separate: • Claude’s Edge: Anthropic’s MCP allows developers to quickly build open-standard connectors. If you use a niche tool with an MCP connector, it works in Claude today. • Copilot’s Edge: Copilot uses Graph Connectors and Copilot Studio. While Microsoft is making it easier to import external data, they are not currently adopting the full library of Claude-specific community plugins. Instead, they are forcing those "skills" to be rebuilt or re-authorized within Copilot Studio to ensure they meet M365 compliance standards.

@MLCapMan $MSFT is integrating agent AI, developed based on Anthropic's Claude Cowork technology, into Microsoft 365. BULLISH

“This is more disruptive than the cloud, this is inference, judgment, reasoning,” said an executive at one of the biggest (SaaS) groups. “Those other big changes happened over several years: this is happening at lightning speed.” AI upheaval via @FT giftarticle.ft.com/giftarticle/ac…

Google’s satellite-based data centre initiative, Project Suncatcher, estimates that launch costs would need to fall below $200 per kilogramme (a sevenfold reduction from current levels) before this becomes economically viable. data centres space via @FT giftarticle.ft.com/giftarticle/ac…