Lemma Capital is launching Future AI Leaders - a concentrated, actively-managed, long-only public equity strategy built to capture the next stage of value creation driven by the global AI adoption.
We believe AI is still early in its deployment curve, and there's significant economic value to be created across many industries: the core models and infrastructure are improving quickly, but the greatest impact will come as these capabilities are embedded in software, industrial and knowledge workflows, and end-user applications.
There's substantial economic data supporting that belief: for example, according to OECD statistics gathered across its member countries, only 41.1% of the working population had used Generative AI tools at least once in the past 3 months as of the end of 2025. Among businesses, only 20.2% reported the use of any AI tools at all. Meanwhile, the increase in corporate usage is impressive: +42.4% in 2025. And there's still a long way to go!
Anyway, future adoption is unlikely to be linear. As with previous technological shifts, the gains may materialize as productivity boosts, cost savings, additional revenue streams, and entirely new product categories. Those may end up spreading among companies that are not yet fully understood as AI beneficiaries.
At the same time, powerful technology waves often attract unrealistic expectations and inflated valuations. Future AI Leaders is designed for that tension: it invests across the AI value chain - from physical infrastructure to software platforms and applications - while using valuation discipline to avoid overpaying for "good stories".
That said, the goal of the strategy is not simply to own "AI stocks," but to own the public companies most likely to convert the AI adoption trend into durable shareholder value. We'll target holding 8 to 12 companies in our portfolio across the stack, and may stay in cash if we see no opportunities we consider attractive in terms of absolute expected return.
To learn more about the strategy rules and limits, follow the link below:
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