We at Minotaur Capital were featured in the Australian Financial Review's coverage of how Meta's Muse launch has unleashed the next leg of the AI trade for global equities investors. After backing memory chip stocks such as SK Hynix and Micron, our Thomas Rice pinpoints September 8 as the day momentum shifted. That was when Meta released Muse, its personal AI agent.
The launch prompted a complete reshuffle of our portfolio. We made 17 trades in September, more than triple August's tally, selling Micron, halving SK Hynix and opening six new positions. Meta, which we began aggressively buying on September 15, became our largest holding by month's end.
"Muse gives Meta the lead in consumer agents, which we think will be one of the most valuable and strategically important markets to own over the next decade," Rice said.
"The internet's biggest profits have gone to its gateways, the places people start, like Google for search and Amazon for shopping. An agent that books your flights and buys your groceries sits in front of all of them."
The article notes Muse passed 5 million downloads in the US and Canada faster than ChatGPT did. It also explores how other Australian fund managers, including Loftus Peak and Munro Partners, view this rapidly evolving opportunity.
To read the article, click the link below.