As AI becomes more powerful, Toby Zhang is looking beyond models themselves.
He sees growing investment opportunities in data sovereignty, model independence, cybersecurity, and the infrastructure shaping global AI competition.
Q1. What investment themes or sectors are you most interested in right now — and why?
Data sovereignty and model independence - companies need to protect their data while taking advantage of what AI can do. So any technologies and companies that enable data sovereignty and model independence are interesting areas to invest in
Q2. What do you think the market is underestimating right now?
The power of China - China and Chinese researchers are operating at the same speed, if not already exceeded, the best of the frontier labs here in the US. On top of that China has significantly more power capacity and power generation today. The last step for China's dominance to come to fruition is their domestic chip manufacturing, which is only a matter of time (2-3 years at most)
Q3. What is one trend you think will matter more over the next few years?
Cybersecurity especially protection against AI.
AI powered cybersecurity to protect against AI is the utmost priority and will continue to be. Companies like PANW are the ones to look out for
For Zhang, the next phase of AI will be shaped not only by better models, but by who controls the data, infrastructure, security, and computing power behind them.