Apollo's Big Bet on AI's Future
Apollo Global Management made a surprising decision. They bet against some software companies. These companies were seen as weak against AI. The firms included Internet Brands, SonicWall, and Perforce.
The Scale of the Bets
This move was not small. It involved loans worth less than 1% of Apollo's huge credit assets. That's still a lot of money. The bets were placed earlier this year. They lasted for most of the year. But they were closed later.
The Reason Behind the Bets
Why did Apollo do this? They saw a trend. AI is growing fast. Some tech companies may not keep up. Apollo thought these companies were at risk. So, they took a chance. They bet against them.
The Broader Implications
This shows how AI is changing the game. It's not just about big tech. It's about who can adapt. Apollo saw this early. They acted on it. The results? We'll see.