Issue link: https://info.seic.com/i/1495701
10 INVESTMENT THEMES FOR 2023 ยท 3 The pace of adoption of new technologies is accelerating Source: Statista. As of 12/31/22. Kickstarter refers to number of backers. Airbnb refers to number of nights booked. Foursquare and Instagram refer to number of downloads. isn't when the cycle will turn, but what's on the other side. The need for computing power is only increasing, so I believe demand for chips should bounce back. Semiconductor equipment manufacturer ASML estimates that industry-wide revenue will reach $940 billion by 2030, twice that of its 2020 levels. What's more, the pace of innovation around the world is picking up again. Several colleagues and I recently spent a few weeks in Silicon Valley meeting with public companies and venture capital firms, and I came away believing we are at an inflection point with artificial intelligence. Microsoft's $10 billion investment in ChatGPT-creator OpenAI is a recent example, but the push to develop innovative uses of AI is happening all around. This feels like the early days of mobile and cloud as they entered an era of hyper-charged growth. It's an open-ended opportunity for companies that can leverage the technology to genuinely differentiate their product offerings and deliver enhanced productivity to customers. Despite the challenging environment, I remain excited about the long-term investment opportunities on the horizon. Time for selected online services to reach one million users 2.5 months 5 days 5 months 7 months 13 months 2 years 2.5 years 2.5 years 3.5 years Netflix Airbnb Kickstarter Twitter Foursquare Facebook Dropbox Spotify Instagram 10 months 1 Million 1M Race to users ChatGPT