GCQ co-founder and chief investment officer Douglas Tynan is backing technology giants such as Google to make the greatest gains from AI through acquisitions and innovation, rather than smaller AI start-ups.

Mr Tynan made the comments as GCQ revealed a 50 per cent annual return in its flagship fund – the first result for the fund covering a full year since he founded GCQ alongside David Symons and Justin Hardwick in 2021. (Mr Tynan was previously at Rob Luciano’s VGI Partners.) GCQ started taking on outside money in 2022. Their fund became available on platforms favoured by high net worth clients in July that year.