\nMarile fonduri de investi\u0163ii la nivel global au \u00eenceput s\u0103 \u00ee\u015fi recalibreze portofoliile, avertiz\u00e2nd asupra unor evalu\u0103ri nerealiste \u00een sectorul tehnologic american, scrie Financial Times.<\/p>\n
\nPe fondul temerilor c\u0103 segmentul inteligen\u0163ei artificiale ar putea reproduce scenariul bulei \u201edotcom\u201d de acum 25 de ani, manageri de active precum Amundi sau GQG Partners au \u00eenceput s\u0103 utilizeze derivate pentru protec\u0163ie sau chiar s\u0103 lichideze total de\u0163inerile \u00een gigan\u0163ii tech.<\/p>\n
\n\u201eDac\u0103 exist\u0103 sau nu excese pe pia\u0163a de ac\u0163iuni \u00een zona AI nu mai este o chestiune discutabil\u0103, \u00eens\u0103 este dificil de stabilit care vor fi exact companiile pierz\u0103toare \u015fi c\u00e2nd va avea loc acest moment al corec\u0163iei\u201d, a declarat Vincent Mortier, director de investi\u0163ii \u00een cadrul Amundi, cel mai mare administrator de active din Europa, cu active de 2.300 de miliarde de euro.<\/p>\n
\nEvalu\u0103rile \u201eCelor \u015eapte Magnifici\u201d – Nvidia, Meta, Tesla, Apple, Microsoft, Amazon \u015fi Alphabet, au \u00eenregistrat o cre\u015ftere de 21% anul trecut. Totu\u015fi, multiplii de tranzac\u0163ionare ridic\u0103 semne de \u00eentrebare: Nvidia se tranzac\u0163ioneaz\u0103 la un pre\u0163 de 46 de ori profitul, iar Apple la un multiplu de 37.<\/p>\n
\nAceste cifre au determinat fonduri precum Blue Whale Growth s\u0103 ias\u0103 din Microsoft \u015fi Meta, p\u0103str\u00e2nd doar Nvidia. \u00cen paralel, Rajiv Jain, CIO al GQG Partners, a \u00eenchis complet pozi\u0163iile pe \u201eMagnifici\u201d, invoc\u00e2nd consumul uria\u015f de capital \u00een raport cu veniturile reale generate de AI, pe care le estimeaz\u0103 sub 25 mld. dolari la nivel global.<\/p>\n
\nDe\u015fi institu\u0163ii precum FMI sau BCE trag semnale de alarm\u0103, o parte important\u0103 a investitorilor refuz\u0103 s\u0103 p\u0103r\u0103seasc\u0103 pia\u0163a. T Rowe Price subliniaz\u0103 c\u0103, spre deosebire de anul 2000, liderii de ast\u0103zi sunt companii extrem de profitabile, cu niveluri de \u00eendatorare sc\u0103zute. <\/span><\/p>\n \nTotodat\u0103, un sondaj Bank of America indic\u0103 faptul c\u0103 rezervele de cash ale investitorilor sunt la minime istorice, semn c\u0103 mul\u0163i aleg s\u0103 r\u0103m\u00e2n\u0103 \u00een pia\u0163\u0103 \u00een ciuda riscurilor. <\/span>De\u015fi BlackRock nu anticipeaz\u0103 o spargere iminent\u0103 a unei bule, mesajul general pentru 2026 este unul de precau\u0163ie: investitorii trebuie s\u0103 se preg\u0103teasc\u0103 pentru o volatilitate ridicat\u0103 pe m\u0103sur\u0103 ce pia\u0163a testeaz\u0103 sustenabilitatea investi\u0163iilor \u00een AI.<\/p>\n \n <\/p>\n \n <\/p>\n","protected":false},"excerpt":{"rendered":" Marile fonduri de investi\u0163ii la nivel global au \u00eenceput s\u0103 \u00ee\u015fi recalibreze portofoliile, avertiz\u00e2nd asupra unor evalu\u0103ri nerealiste \u00een sectorul tehnologic american, scrie Financial Times. Pe fondul temerilor c\u0103 segmentul inteligen\u0163ei artificiale ar putea reproduce scenariul bulei \u201edotcom\u201d de acum 25 de ani, manageri de active precum Amundi sau GQG Partners au \u00eenceput s\u0103 utilizeze […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[510],"tags":[9323,201,8457,15153],"class_list":["post-243925","post","type-post","status-publish","format-standard","hentry","category-actualitate","tag-active","tag-companii","tag-scenariu","tag-stabilire"],"acf":[],"_links":{"self":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/243925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=243925"}],"version-history":[{"count":0,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=\/wp\/v2\/posts\/243925\/revisions"}],"wp:attachment":[{"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=243925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=243925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bm.dev.synology.me\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=243925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}