ClearBridge Investments, an investment management company, released its “ClearBridge Global Infrastructure Value Strategy” second quarter 2022 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund underperformed relative to the S&P Global Infrastructure Index. Utilities with clean energy portfolios contributed positively to the fund’s performance but fears of recession affected the rail companies. For more information on the fund’s best picks in 2022, please check its top five holdings.
In the letter, ClearBridge Investments discussed the performance of the ClearBridge Global Infrastructure Value Strategy portfolio. Constellation Energy Corporation (NASDAQ:CEG) was a positive contributor to the strategy in the second quarter. Constellation Energy Corporation (NASDAQ:CEG) is a US-based electricity generator and distributor, headquartered in Baltimore, Maryland. The stock of Constellation Energy Corporation (NASDAQ:CEG) closed at $75.89 per share on August 8, 2022. One-month return of Constellation Energy Corporation (NASDAQ:CEG) rose to 28.13% and its shares gained 33.05% of their value over the last 3 months. It has a market capitalization of $24.804 billion.
Here’s what ClearBridge Investments specifically said about Constellation Energy Corporation (NASDAQ:CEG):
“Utilities with clean energy portfolios were also positive contributors in a down quarter for markets, with strong performance from U.S. electric utilities Constellation Energy Corporation (NASDAQ:CEG) and Clearway Energy (CWEN). We bought shares of Constellation Energy earlier this year following its spinoff from Exelon (EXC). Constellation represents Exelon’s former power generation and competitive energy business, and with 21 GW of nuclear capacity across 13 plants is the largest generator of carbon-free power in the U.S. We believed Constellation Energy’s nuclear assets and free cash flow generation were mispriced by the market, with upside from any further federal/state nuclear subsidies granted, and this has so far played out.”
Although Constellation Energy Corporation (NASDAQ:CEG) is a positive contributor to the strategy, it is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, Constellation Energy Corporation (NASDAQ:CEG) was held by 47 hedge fund portfolios at the end of the first quarter.
We discussed Constellation Energy Corporation (NASDAQ:CEG) in another article and shared Frank Fu’s CaaS Capital’s top stock picks. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.
Disclosure: None. This article is originally published at Insider Monkey.
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Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
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Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
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