Key Takeaways
- • Hedge fund managers at the Sohn Investment Conference in Hong Kong (May 21, 2026) are targeting AI infrastructure and supply chain companies, including CoreWeave, Compeq, and Kandenko, as semiconductor rally drives outperformance of major Asian equity indexes versus Western markets.
- • CoreWeave, a U.S.-based AI data centre provider powered by Nvidia chips, is a key hedge fund pick; Valliance Asset Management's Chief Investment Officer Kenny Zhang projects the company's annualized revenue will reach $55 billion by 2028, up from $1 billion in early 2024.
- • Consumer-focused investment themes center on Gen Z spending patterns, with hedge funds identifying opportunities in pet food and instant noodle brands as alternative growth vectors beyond traditional tech exposure.
- • The investment thesis reflects a broader strategy to capitalize on AI's structural impact across supply chains—from hardware infrastructure to digital labor replacement—while diversifying into resilient consumer segments tied to demographic shifts.
Summary
Hedge fund managers gathered at the annual Sohn Investment Conference in Hong Kong on May 21, 2026, to present investment theses centered on two dominant themes: AI supply chain infrastructure and Gen Z consumer spending trends. The conference highlighted a strategic pivot among institutional investors seeking exposure to the ongoing semiconductor rally, which has driven major Asian equity indexes to outperform Western counterparts this year.
AI-related infrastructure dominated the conference agenda, with particular emphasis on data centre operators and printed circuit board (PCB) manufacturers positioned as critical beneficiaries of the AI buildout. Kenny Zhang, Chief Investment Officer at Valliance Asset Management, spotlighted CoreWeave (CRWV.O), a U.S.-based AI data centre provider that supplies hardware and cloud capacity powered by Nvidia (NVDA.O) chips. Zhang's investment thesis centers on the structural replacement of human labor with AI agents, noting that enterprises will require robust infrastructure to support these digital replacements. He articulated this concept as follows: "If we think chips are replacing people, how do we make the digital people happy? ... You need a company like CoreWeave." Valliance projects CoreWeave's annualized revenue to reach $55 billion by 2028, a 55-fold increase from $1 billion in early 2024, reflecting confidence in accelerating AI infrastructure demand.
Beyond data centres, hedge funds identified complementary opportunities in PCB manufacturers including Compeq and Kandenko, which supply critical components for the AI supply chain. This reflects a strategic approach to capturing multiple points in the value chain rather than concentrating exposure solely on chip designers or cloud providers.
The second major investment theme targets Gen Z consumer behavior, with hedge funds identifying secular growth opportunities in pet food and instant noodle brands. This consumer-focused strategy acknowledges demographic shifts and spending preferences among younger cohorts, providing portfolio diversification beyond technology-centric trades. The Sohn conference participants did not disclose specific portfolio positions in any highlighted companies, maintaining the event's traditional format where hedge funds pitch thesis ideas without confirming deployed capital.
AI-related infrastructure dominated the conference agenda, with particular emphasis on data centre operators and printed circuit board (PCB) manufacturers positioned as critical beneficiaries of the AI buildout. Kenny Zhang, Chief Investment Officer at Valliance Asset Management, spotlighted CoreWeave (CRWV.O), a U.S.-based AI data centre provider that supplies hardware and cloud capacity powered by Nvidia (NVDA.O) chips. Zhang's investment thesis centers on the structural replacement of human labor with AI agents, noting that enterprises will require robust infrastructure to support these digital replacements. He articulated this concept as follows: "If we think chips are replacing people, how do we make the digital people happy? ... You need a company like CoreWeave." Valliance projects CoreWeave's annualized revenue to reach $55 billion by 2028, a 55-fold increase from $1 billion in early 2024, reflecting confidence in accelerating AI infrastructure demand.
Beyond data centres, hedge funds identified complementary opportunities in PCB manufacturers including Compeq and Kandenko, which supply critical components for the AI supply chain. This reflects a strategic approach to capturing multiple points in the value chain rather than concentrating exposure solely on chip designers or cloud providers.
The second major investment theme targets Gen Z consumer behavior, with hedge funds identifying secular growth opportunities in pet food and instant noodle brands. This consumer-focused strategy acknowledges demographic shifts and spending preferences among younger cohorts, providing portfolio diversification beyond technology-centric trades. The Sohn conference participants did not disclose specific portfolio positions in any highlighted companies, maintaining the event's traditional format where hedge funds pitch thesis ideas without confirming deployed capital.
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