GQG’s Rajiv Jain says tech rally is ‘dot com bubble on steroids’

GQG Partners chairman Rajiv Jain, one of the world’s most respected global equities investors, says billions of dollars spent on artificial intelligence are unlikely to deliver big returns for shareholders and warned the long rally in technology stocks is creating a bubble bigger than the dotcom bust.

Jain made the criticisms, including describing the run in tech stocks as “the dot com bubble on steroids” as he fronted shareholders to explain why GQG funds had lagged the market by almost 20 per cent over the last year.

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