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Anis Lahlou, Chief Investment Officer, European Equities at Aperture Investors, recently spoke with Citywire Spain about the innovation cycle now taking shape across Europe.

The conversation examines how government spending in defence and energy can create demand for private companies, the changing economics of reshoring manufacturing and the signals investors can use to assess whether AI is producing tangible economic value. 

Anis also discusses a growing constraint on AI infrastructure: access to power. While nuclear energy may play a larger role in the years ahead, companies are already looking to on-site generation, energy storage and more efficient power architecture as grid connections face long wait times. 

In Europe's semiconductor industry, Anis points to the strength of a wider technology ecosystem, spanning equipment, packaging, photonics, sensors and specialised applications. He also explains how the strategy seeks exposure across that value chain while maintaining discipline around position sizing and portfolio risk. 

"The market is moving from the infrastructure phase of AI towards the monetisation phase," Anis noted. 

Read the full interview on Citywire Spain.

If you have questions about the Aperture European Innovation strategy, please contact us: [email protected]