Tom Hulick, CEO of Strategy Asset Managers, joined CNBC’s Squawk Box Europe in London to discuss current market dynamics, the evolving AI landscape, and where he sees opportunity beyond the dominant technology narrative. He noted that markets are supported by strong earnings momentum and ample liquidity, while highlighting that retail investor concentration in large-cap technology stocks leaves the broader market waiting for a meaningful rotation.
During the conversation, Tom discussed the rapid pace of AI development, describing the leading AI platforms as increasingly commoditized but improving daily — and pointing to chip speed, photonics, and memory infrastructure as critical areas of advancement with long runways for growth. He also noted that alternative, potentially more cost-efficient architectures are an active conversation across the industry.
For investors looking to diversify beyond the dominant AI trade, Tom highlighted GE Vernova for its earnings momentum in the power industry, Panasonic for its backup battery systems and supercapacitors supporting more efficient energy storage, and Eli Lilly for its GLP-1 franchise and broader pipeline spanning oncology, anti-inflammation, cardiac, and neurological therapeutics. He expressed enthusiasm for the broader advancements happening across pharma, biotech, and biomedical engineering — an area he believes is not receiving enough attention relative to the opportunity ahead.