Companies
with
exclusive
access
to
unique
data
will
be
well-positioned
to
capitalize
on
the
next
leg
of
AI
advancements,
according
to
Tema
ETF’s
Chief
Investment
Officer
Yuri
Khodjamirian.
AI
models,
such
as
OpenAI’s
ChatGPT
or
Anthropic’s
Claude,
are
built
by
running
complex
algorithms
on
large
amounts
of
data.
The
high
quality
of
data
is
a
key
component
that
enables
these
‘large
language
models’
to
produce
responses
almost
similar
to
those
of
humans.
“As
the
world
moves
towards
AI,
you’re
going
to
need
high
quality,
trusted,
well
put
together
data
that
is
unique
to
specific
companies,”
Khodjamirian
told
CNBC’s
Pro
Talks.
Khodjamirian,
who
also
manages
the
Monopolies
and
Oligopolies
ETF
,
named
four
stocks
that
he
sees
as
potential
winners:
Moody’s
,
S
&
P
Global
,
MSCI
,
and
Intuit
.
“They
own
lots
of
financial
data,
and
this
financial
data
can
never
be
recreated,”
he
noted.
Moody’s
Using
Moody’s
as
a
prime
example,
the
fund
manager
highlighted
the
company’s
extensive
database
on
credit
decisions.
“Moody’s
has
a
database
on
credit
decisions,
and
they’re
sitting
right
there
on
the
desks
of
the
bank
credit
officers
making
those
decisions,
collecting
that
data,”
he
said.
“That
database
–
you
can’t
recreate
it.
Once
you
apply
AI
tools
to
that,
that
data
becomes
really
valuable.”
Shares
of
the
company,
which
boasts
gross
profit
margins
of
more
than
65%,
have
risen
15%
so
far
this
year.
Warren
Buffett’s
Berkshire
Hathaway
also
backs
Moody’s
as
its
largest
shareholder,
owning
a
13.5%
stake.
MCO
5Y
line
S
&
P
Global
and
MSCI
Similarly,
Khodjamirian
sees
potential
in
S
&
P
Global
and
MSCI
due
to
their
vast
troves
of
financial
and
index
data.
His
thesis
rests
on
the
idea
that
as
AI
use
becomes
more
widespread,
the
value
of
software
—
the
AI
models
—
may
diminish.
However,
in
this
new
paradigm,
he
expects
high-quality
proprietary
data
to
retain
its
scarcity
and
rise
in
value.
There
is
some
evidence
of
this
transition
already.
Last
week,
Facebook-owner
Meta
released
the
latest
version
of
its
artificial
intelligence
model,
Llama
3.1.
The
company
has
made
the
software
technology
available
for
free,
hoping
to
undercut
rivals
such
as
Microsoft
-backed
OpenAI
and
Amazon
-backed
Anthropic.
Intuit
Finally,
Intuit
also
caught
the
fund
manager’s
eye.
The
company
is
known
for
its
tax
preparation
TurboTax
application
and
QuickBooks
small
business
accounting
software.
The
investor
believes
the
company
operates
an
extensive
“horizontal
and
vertical
database.”
“They
have
hundreds
of
thousands
of
clients
and
hundreds
of
thousands
of
data
points
per
client,”
Khodjamirian
noted.
Khodjamirian
emphasized
that
these
companies
will
be
able
to
maintain
a
competitive
edge
as
they
are
uniquely
positioned
to
use
AI
models
such
as
Meta’s
Llama
to
customize
and
build
powerful
AI
applications
thanks
to
their
exclusive,
well-structured
datasets.
“That’s
why
we
really
like
this
space
as
a
way
of
playing
this
over
the
long
run,”
he
said.
All
four
stocks
are
held
in
Tema
ETFs’
Monopolies
and
Oligopolies
ETF.
Correction:
This
story
was
updated
to
correct
the
spelling
of
Warren
Buffett’s
name
in
a
headline.
