Uploaded February 2026 | Updated September 2026, 2 weeks ago
In his latest memo – occasioned by massive changes he cites in just the 11 weeks since the last one – Howard Marks revisits the subject of AI, providing his observations on its essence and how it differs from previous technological innovations. He highlights AI’s immense power, speed, and autonomy; its limitations; and its potential implications for investing. He expresses conviction that AI is far from a fad, but also that investors must view its transformational potential against an assessment of the appropriateness of the prices of AI assets.
You can read the memo here (oaktreecapital.com/insights/memo/ai-hurtles-ahead) (oaktreecapital.com/insights/memo/ai-hurtles-ahead).
In his latest memo – occasioned by massive changes he cites in just the 11 weeks since the last one – Howard Marks revisits the subject of AI, providing his observations on its essence and how it differs from previous technological innovations. He highlights AI’s immense power, speed, and autonomy; its limitations; and its potential implications for investing. He expresses conviction that AI is far from a fad, but also that investors must view its transformational potential against an assessment of the appropriateness of the prices of AI assets.
You can read the memo here (oaktreecapital.com/insights/memo/ai-hurtles-ahead) (oaktreecapital.com/insights/memo/ai-hurtles-ahead).
