Mark Mobius Moves Headquarters to Dubai, Emphasizes AI Investments, Expresses Confidence in India

28 Nov, 2023

Mark Mobius Moves Headquarters to Dubai, Emphasizes AI Investments, Expresses Confidence in India

Renowned emerging markets expert Mark Mobius, co-founder of Mobius Capital Partners, has chosen to step down and establish a base in Dubai, redirecting his investment focus towards technology and AI-related stocks within global emerging markets. The shift prompts curiosity about the reasoning behind this strategic move, articulated by the 87-year-old himself.

In a conversation with CNBC TV-18, the market veteran shared, "The area will be only emerging markets again, but the focus will be on technology." He emphasized his quest for companies extensively utilizing AI or artificial intelligence, highlighting India as a prime exemplar in this domain.

While specific companies in India have yet to be pinpointed by Mobius, he clarified his criteria for technology stocks, emphasizing those leveraging AI to bolster profitability and operational efficiency.

Expressing keen interest in software firms pioneering AI tools, Mobius stated, "Subsequently, our attention will shift to companies harnessing AI for day-to-day operations, enhancing their efficacy within the broader AI spectrum."

Regarding standout entities in the AI manufacturing sphere, Mobius singled out Amazon, attributing its AI utilization to optimizing distribution channels and expanding its customer base.

On the topic of foreign investments flowing into India, Mobius projected a significant influx of capital that would typically target China. He highlighted the substantial and escalating inflow of funds into India, encompassing portfolio investments and private ventures, signifying a promising trend for the country's economic landscape.