Tikehau Capital Highlights AI Investment Opportunities in the US and Europe

Tikehau Capital’s market‑strategy director Raphaël Thuin said artificial‑intelligence growth is consolidating in the United States and Europe. He pointed to recent Micron results as evidence of the critical role of memory chips and semiconductors in AI development. The firm sees expanding investment in hyper‑scale data‑center operators, where the return on AI‑related spending is becoming clearer, and notes that opportunities extend beyond chip makers to include cooling systems, optical connectivity and power supplies for data‑centers.

In Europe, Thuin emphasized the region’s strong position in semiconductors and photonics, underscoring the Netherlands’ pivotal ecosystem for advanced chip fabrication. He said European firms are well‑placed in niche technologies such as photonics, which improves energy efficiency, and that some overlooked European tech stocks are regaining momentum due to indirect exposure to AI growth. While remaining cautious on software stocks, he sees long‑term potential as valuations normalise.