Update: Nearly a third of Scottish Mortgage (SMT) assets are invested in companies involved in AI, the Baillie Gifford flagship investment trust revealed today.
As its annual results showed the growth fund bouncing back from two years of losses with an 11.5% gain, taking its assets to £12.6bn in the year to 31 March, deputy manager Lawrence Burns said AI was turning out to be the most significant invention since the Gutenberg printing press in 1440.
Burns, who joined manager Tom Slater three years ago ahead of the retirement of former lead manager James Anderson, said they divided AI stocks between hardware, infrastructure and applications.