THE ATLAS INDEX UPDATES Q2 2024— Hive Ventures
About Atlas Index: The Atlas is an index designed to track publicly listed companies within Hive Ventures’ investment scope:Data, Machine Intelligence and Enterprise Software. We believe these sectors have just begun its rise, and this index will serve to chronicle and chart the growth of these sectors.
In Q2 2024, a comprehensive evaluation was conducted on all tech Initial Public Offerings (IPOs) launched during that period. The selected IPOs that were in line with our fund’s investment philosophy were included in the ATLAS Index.
Through a thorough analysis of real-time market data and gathering valuable feedback, we gained a profound understanding of Hive’s investment thesis, specifically concentrating on data, AI, machine intelligence, and enterprise software. This assessment has provided us with significant insights into the performance and potential of our investment strategy in these domains.
As of the end of Q1 2024, the ATLAS Index comprised 116 companies. In Q2 2024, we removed 3 companies and added 2, resulting in 115 companies.
The ATLAS Index has boasted an impressive 4% surge in LTM performance in a landscape teeming with technological advancements. This remarkable achievement is a testament to the inclusion of top-tier data and AI companies, signaling a wave of prosperity for investors.
However, during the same period, Atlas showed a performance below the S&P 500 for the first time. The main reason is that several heavily weighted stocks in the index have recently experienced significant declines. The most expensive stocks that caused a negative impact in the quarter include Microstrategy, Hubspot, Atlassian, Workday, ServiceNow, MongoDB, and Salesforce. Fluctuations in these stocks have a particularly significant impact on Atlas.
Buckle Up for the AI Revolution: A Future of Exponential Growth
The winds of change are howling in the tech sector, and artificial intelligence is at the heart of the storm. The synergy between AI innovation, data analytics, and commercialization is not merely a promising trend; it’s a full-fledged revolution on the horizon.
This revolution transcends industries, fostering the development of robust data infrastructure, intelligent automation, and solutions that push the boundaries of what’s possible. Generative AI, in particular, stands as a game-changer, fueling groundbreaking creations and ushering in a new era of discovery.
The tech landscape is further invigorated by the booming semiconductor sector. Significant investments are fueling innovation across the board, creating a feedback loop where advancements in semiconductors empower AI and data, and vice versa. This exponential growth creates a ripple effect of opportunity, propelling countless industries forward.
Businesses that recognize the transformative potential of AI are the ones poised to lead the charge. By embracing these trends with a forward-thinking mindset, they not only become industry leaders but unlock a treasure trove of untapped potential. This proactive approach ensures not just survival, but ushers in an era of unparalleled success.
The future is not just powered by AI — it’s shaped by it. The combined forces of generative AI, a thriving semiconductor sector, and unwavering investment pave the way for a future brimming with innovation. We stand at the precipice of a technological renaissance, and the companies that embrace this transformation are the ones destined to thrive. So, buckle up — the AI revolution is here, and the opportunities are limitless.
TABLE | HIVE VENTURES ATLAS INDEX PERFORMANCE
FIGURE | HIVE VENTURES ATLAS INDEX VS MAJOR STOCK INDICES
