Smarter models, sharper founders: growth investing in the AI era
发布时间 2026-01-14 16:00:00 来源
摘要
With developments in generative AI progressing at such a furious pace, how can investors cut through the noise to identify the companies that will really matter? Baillie Gifford’s Kyle McEnery shares his approach to meeting the entrepreneurs building the future – including his encounters with AppLovin, Anthropic, NVIDIA, Roblox and Reddit. Background:Kyle McEnery is an investment manager in our Long Term Global Growth Team (LTGG) and previously led Baillie Gifford’s Artificial Intelligence Research Project. In this conversation, he tells host Leo Kelion why AI’s ever-increasing capabilities make this one of the most exciting times to be a growth investor, and how leadership and culture act as signals in the noise to help identify companies with the greatest long-term growth potential. In addition to discussing which of the firms enabling and using today’s language-based ‘frontier’ AI models are leading the pack, he explains how efforts to understand and simulate real-world physics could unlock further progress. Portfolio companies discussed include:Anthropic – developer of the Claude AI models, which excel at coding, among other tasks.NVIDIA – the semiconductors firm whose accelerator chips are powering many of the advances in generative AI.Roblox – the video games platform whose Cube 3D technology allows creators to build objects and environments out of text-based descriptions.AppLovin – the ad-tech company whose AI-first strategy keeps the business lean and nimble.Reddit – the online discussion forum, whose authentic human conversations are gaining in value as a counterpoint to AI-generated output. Resources:AI and the future of everything: a long-term perspective (https://www.bailliegifford.com/insights/ic-article/2023-q4-distruption-week-artificial-intelligence-10040182/)Anthropic: why we are backing the AI frontrunner (https://www.bailliegifford.com/insights/ic-article/2025-q4-why-we-are-backing-anthropic-10058663/)Long Term Global Growth Strategy (institutional investors only) (https://www.bailliegifford.com/en/uk/institutional-investor/investment-strategies/long-term-global-growth/)LTGG philosophy and process (institutional investors only) (https://www.bailliegifford.com/en/uk/institutional-investor/literature-library/institutional-only-literature/philosophy-and-process/long-term-global-growth-philosophy-and-process/)Private companies: from Anthropic to Zetwerk (https://www.bailliegifford.com/insights/ic-article/2025-q4-podcast-54-robert-natzler-private-companies-10059276/)Short Briefings on Long Term Thinking hub (https://www.bailliegifford.com/podcasts/) Companies mentioned include:Alphabet/Google (https://abc.xyz/)Amazon (https://www.aboutamazon.com/)Anthropic (https://www.anthropic.com/)AppLovin (https://www.applovin.com/en)Horizon Robotics (https://en.horizon.auto/)NVIDIA (https://www.nvidia.com/en-gb/)Reddit (https://redditinc.com/)Roblox (https://www.roblox.com/)Tesla (https://www.tesla.com/) Timecodes:00:00 Introduction – Dartmouth College’s artificial intelligence workshop01:50 From quantum to AI via asset management02:50 Creating and then culling a machine-learning initiative08:05 ChatGPT’s wake-up call10:35 Exceptional companies at the dawn of generative AI12:10 Anthropic’s appeal to business customers14:55 A winner-takes-all opportunity?
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