GQG’s Rajiv Jain Reverses AI Skepticism With Sharp Return to Technology Stocks

Rajiv Jain, the GQG Partners co-founder who last year likened the AI boom to the “dot-com bubble on steroids,” has moved back into technology stocks after an 18-month stretch of underperformance and investor withdrawals. The reversal puts one of the market’s better-known AI skeptics on the other side of a trade he had recently avoided, underscoring how difficult it has become for large active managers to stay underweight artificial intelligence while the sector keeps driving global equity returns.