SpaceX came to the stock market with a bang – The portfolio manager focuses on one thing, which Nokia also gets a share of

A space technology company SpaceX:n the strong stock market debut attracted attention in the market on Friday, but a more relevant question than the individual listing is what it says about the broader technology boom.

Asilo Asset Managementin portfolio manager Henri Blomsterin according to the development of the first trading day, you should not draw straightforward conclusions.

“The aim is to structure listings so that Opening Day is successful. When only a small portion of the shares are available on the market and many investors can only get in through the stock exchange, it supports the price increase,” says Blomster.

In the case of SpaceX, there was a limited number of shares in circulation, which makes the price more sensitive to movements. At the same time, many investors are excluded from the offering and only buy shares afterwards.

According to Blomster, a single listing is not yet widely swinging the market.

“I don’t see that one listing alone would have a significant impact on, for example, the European or Helsinki markets,” he estimates.

Wall Street Journalin however, the interest seen internationally around SpaceX has been seen as a sign that the willingness of investors to take risks still exists. Even in an uncertain market, there is enough demand for growth stories.

Artificial intelligence is gaining ground and is just beginning

However, according to Blomster, investors’ attention has increasingly turned to artificial intelligence, where development is only in its early stages.

“Even with very conservative estimates, less than one percent of large companies have widely adopted artificial intelligence,” he says.

This means there is still plenty of room for growth.

“It’s a technology that practically has to be implemented if you want to stay in the competition.”

At the same time, risks are also being discussed around artificial intelligence. Blomster highlights the fresh ones twists and turnswhere there have been changes to the availability of artificial intelligence models. American artificial intelligence giant Anthropic closed its most advanced language models to all users on Friday as a result of an official order, although the order was only about denying foreign operators access to the models.

“If a key technology can be taken out of service, it raises questions about dependency and risks.”

According to him, such events can increase the pressure to build one’s own technological capacity, especially in Europe.

Nokia gets its share, but is not at the top of the hype

The technology boom is also reflected in Finland, although domestic companies are not at the forefront of development.

According to Blomster, Nokia, for example, benefits from the growing demand.

“Demand supports Nokia’s online business as the need for data and computing power increases,” he says.

However, the company is not the most straightforward way to invest in the AI ​​trend.

“If you are looking for as direct exposure as possible, there are also stronger and faster-growing players on the market. But yes, this will rain crumbs into Nokia’s lair as well.”

Hype and reality go hand in hand

According to Blomster, the listing of SpaceX reflects the current market very well: strong interest in new technologies is combined with uncertainty about where the valuation levels will eventually settle.

In the short term, movements can be strong.

“I expect the movements to be big in both directions,” says Blomster.

However, according to him, the decisive factor in the longer term is how quickly technologies such as artificial intelligence move from the hype stage to large-scale use.