Morgan Stanley’s Stan Delaney: Next Wave of Investment Opportunities Will Focus on Companies Using AI to Develop Emerging Businesses

　　Shanghai Securities News China Securities Network (by reporter Lu Yi, Yan Xiaofei) On October 18, Stan Delaney, Managing Director of Morgan Stanley Investment Management’s Collaborative Global Team, stated at the Global Wealth Management Forum · 2025 Shanghai Suhewan Conference that if a technology can achieve implementation costs significantly lower than existing market solutions or deliver breakthrough improvements in key performance indicators—that is, bringing massive performance transformation through substantial cost advantages—it is enough to foster enterprises with disruptive capabilities. This is often closely related to their exceptional performance.

　　"Since 2016, artificial intelligence and machine learning have been key focus areas for us. At that time, this field was highly recommended and strategically allocated within our minority core holdings. It was also from then that we began systematically researching machine learning and gradually built related investment portfolios," Stan Delaney stated.

　　Stan Delaney believes that DeepSeek has successfully developed a high-performing and cost-controllable model based on massive, particularly high-quality data. This model demonstrates significant advantages compared to other AI solutions. More crucially, its capability foundation lies in creating high-quality data and using it for model training, thereby building a virtuous cycle that continuously enhances effectiveness and efficiency.

　　In Stan Delaney’s view, the main opportunities in the next wave of investments will increasingly concentrate on companies that leverage AI to explore emerging businesses. While current market focus is largely on general-purpose large models and large language models, he stated, "But we believe there is greater development potential in broader application scenarios, especially in areas where artificial intelligence can create entirely new opportunities. For example, autonomous driving technology is one of the directions we see as having enormous potential."