William de Gale, is Co-Founder and Lead Portfolio Manager at BlueBox Asset Management, where he manages the BlueBox Global Technology Fund. He brings over 20 years of experience in global technology investing, including more than a decade at BlackRock running its offshore global technology strategy with top-decile performance. William specialises in identifying high-conviction, high-growth technology companies with the potential to deliver strong long-term returns.
In this deep-dive conversation, William reveals:- Why the AI boom ISN'T a bubble (yet) - and the warning signs to watch for- The difference between Google and ChatGPT that most people miss- Why chip manufacturers represent 40% of his portfolio- His contrarian bet: Why Adobe and software platforms will be AI's biggest winners- The "picks and shovels" strategy that consistently outperforms disruptors- Why Nvidia's ecosystem is powerful but not unbeatable- His surprise top stock pick for 2026 (it's not what you think)William explains why companies selling the infrastructure (TSMC, ASML, Lam Research) consistently outperform the headline-grabbing disruptors, and why the market is wrong about AI's impact on software platforms.
Chapters:
00:00 - Intro 02:00 - Military to Finance Journey03:29 - Google vs ChatGPT06:13 - Who Owns OpenAI?07:24 - AI Energy Use08:10 - What Are GPUs?10:05 - AI Data Centers13:19 - AI Investment Scale14:07 - Safety & Guardrails15:17 - Big Spenders in AI18:11 - Artificial General Intelligence19:32 - AI Bubble Risk?22:18 - AI & Human Knowledge23:37 - What's Next After AI?24:13 - Tech Returns: 15% Growth26:02 - TSMC Leadership27:47 - Nvidia Explained28:33 - Nvidia vs Apple Ecosystem31:29 - Picks & Shovels Stocks
Links & Resources:BlueBox Asset ManagementWebsite: https://www.blueboxfunds.com/LinkedIn: https://www.linkedin.com/company/bluebox-asset-management/?originalSubdomain=ukWilliam de GaleLinkedIn: https://www.linkedin.com/in/william-de-gale-fca-cfa-a2692258/?originalSubdomain=ukInvestment Disclaimer: This podcast is for educational and informational purposes only. It is not investment advice. Always do your own research and consult with a qualified financial advisor before making investment decisions.
