The net return objective to the investor is 10.0% pa through capital growth over rolling five-year periods.
Material Price Sensitive Announcements November 24th to December 1st 2025
Global Top 50 Technology Companies | November 2025
File
| Rank | Date | Company | Ticker | Market Cap Tier | Announcement Type | Announcement Summary | Material Impact | Stock Price Reaction | Source | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 24/11/2025 | Alphabet | GOOGL | Top 5 Global ($3.8T) | Record High + AI Validation | Stock reached all-time high above $300, market cap approaching $4 trillion. Gemini 3 AI model (launched Nov 18) momentum accelerating with overwhelmingly positive reviews. Warren Buffett's Berkshire Hathaway Q3 stake disclosure added validation. Up 70% YTD - best Mag 7 performer in Nov. Reports of Meta considering billions in Google TPU spending for 2027 data centers. | Very High - Validates AI model leadership vs OpenAI/Anthropic. TPU ecosystem emerging as credible Nvidia alternative. Approaching elite $4T valuation club (AAPL | MSFT | NVDA). Berkshire endorsement significant. | Stock rose 5-7% Nov 24-25 to $300+. Briefly touched $328 intraday. Up 70% YTD. | https://Bloomberg/Reuters/CNBC |
| 2 | 24/11/2025 | Broadcom | AVGO | Top 10 Global ($1.7T) | Strategic Partnership | Stock surged 11% on news of deepening Google AI chip partnership. Broadcom supplies custom AI accelerators and networking infrastructure for Google's TPU ecosystem powering Gemini 3. Potential Meta TPU deal could further expand revenue. Q4 earnings Dec 11 expected to show continued AI momentum. | Very High - 11% single-day gain added ~$170B market cap. Validates custom AI silicon strategy. Positions as key Nvidia alternative for hyperscalers. AI revenue growing 63% YoY. | Stock jumped 11% on Nov 24 to new highs. | CNBC/Bloomberg | ||
| 3 | 25/11/2025 | Dell | DELL | Top 50 ($135B) | Q3 FY2026 Earnings Beat | Blowout Q3: Revenue $27B (+11% YoY) vs $27.3B est. EPS $2.59 (+17%) vs $2.48 est. AI server orders $12.3B in quarter, $30B YTD. Record backlog $18.4B. Infrastructure Solutions Group +24% to $14.1B. Raised FY26 guidance to $111.7B (from $107B). AI server shipments raised to $25B (from $20B). Q4 guidance: $31.5B revenue vs $27.6B est. | Very High - Demonstrates surging enterprise AI infrastructure demand. Unprecedented order backlog validates multi-year AI buildout cycle. Raised guidance significantly mid-year. | Stock rose 5% after-hours Nov 25. Up 7% on Nov 26. | Dell IR/CNBC | ||
| 4 | 25/11/2025 | Alibaba | BABA | Top 20 Global ($240B) | AI Product Traction | Qwen AI app surpassed 10 million downloads within first week of launch in China. Strong early adoption signals competitive AI positioning in Chinese market against Baidu, Tencent. | Medium-High - Validates product-market fit in world's largest internet market. Demonstrates consumer AI appetite in China. Competitive moat in domestic AI race. | Stock rose 5.1% on Nov 25. | Nasdaq/Reuters | ||
| 5 | 28/11/2025 | Nvidia | NVDA | Top 5 Global ($4.4T) | Monthly Consolidation | Stock down 1.4% on Nov 28, heading for >10% monthly decline in November despite record Q4 earnings (Nov 20: revenue $57B +62% YoY, Data Center $51.2B +66%). Trading ~$177 vs recent highs near $200. Competitive pressure narrative building around custom chips (Google TPU, Broadcom, AWS Trainium). | Medium Negative - Profit-taking after extraordinary run. Market digesting competitive threats and valuation. Still maintains 70-95% AI chip market share but facing first credible alternatives. | Down >10% in November from highs despite record earnings. Trading ~$177. | Multiple sources | ||
| 6 | 26/11/2025 | Alphabet | GOOGL | Top 5 Global ($3.8T) | Infrastructure Expansion | Announced $2B investment in Turkey over 10 years for Google Cloud infrastructure. Opening largest AI infrastructure hardware engineering hub outside US in Taipei, Taiwan. Strengthens Asia-Pacific AI supply chain and sovereign cloud positioning. | Medium - Part of broader $85B 2025 capex program. Strategic geographic diversification. Taiwan hub critical for TPU development near TSMC manufacturing. | Stock maintained $300+ levels. | Yahoo Finance/Bloomberg | ||
| 7 | 28/11/2025 | Meta | META | Top 10 Global ($1.3T) | Market Performance | Stock rose 1.5% on Nov 28 during holiday-shortened session. Continued strength following Q3 earnings beat. Market digesting reports of potential multi-billion Google TPU procurement for 2027 data center buildout. | Medium - Steady performance. TPU diversification story (if confirmed) reduces Nvidia dependency. AI infrastructure spending remains aggressive (~$60B+ capex). | Rose 1.5% on Nov 28. Up 2.3% for week. | CNBC | ||
| 8 | 28/11/2025 | Oracle | ORCL | Top 20 Global ($330B) | Market Weakness | Stock fell 2.1% on Nov 28. Continued pressure following September highs around $346. Market concerns about AI infrastructure spending ROI and rising debt levels to fund OpenAI contracts ($100B+ borrowing needed over 4 years per KeyBanc). AI capex consuming 94% of operating cash flow. | Medium-High Negative - Valuation concerns as stock still trades 25x forward earnings despite pullback. Heavy debt burden to fund AI buildout. Free cash flow negative in FY26 Q1. | Down 2.1% on Nov 28. Down significantly from Sept highs. | CNBC/24/7 Wall St | ||
| 9 | 26/11/2025 | Microsoft | MSFT | Top 5 Global ($3.7T) | Middle East Investment | President Brad Smith announced $7.9B UAE investment through 2029 for cloud infrastructure, data centers, workforce training. Will triple Nvidia chip deployment in region despite US export constraints. Part of broader Middle East AI strategy. | Medium - Significant regional commitment. Navigating geopolitical complexity of AI infrastructure exports. Strengthens Azure presence in high-growth region. | Not material to stock during week. | Tech Startups | ||
| 10 | 28/11/2025 | Taiwan Semi | TSM | Top 15 Global ($1.0T) | Market Performance | Stock rose 1.5% during week. Beneficiary of continued AI chip demand for Nvidia, AMD, Broadcom. 2nm process production ramping. Controls ~62% of global foundry market, ~90% of advanced chips. | Medium - Steady performance amid AI infrastructure buildout. Critical supplier to all major chip designers. Samsung competitive threat in advanced nodes. | Rose 1.5% for week. | Market data |
10
Total Announcements
$39B+
Total Deal Value
7
Top 50 Global Tech Companies
6
Days Period
Global Top 50 Technology Stocks December 2025
File
| Rank | Company | Ticker | Country | Market Cap (USD) | Sector | Key Business | Notable |
|---|---|---|---|---|---|---|---|
| 1 | Nvidia | NVDA | USA | $4.4T | Semiconductors | AI chips/GPUs for data centers and gaming | https://World's most valuable company Nov 2025 |
| 2 | Apple | AAPL | USA | $4.0T | Consumer Electronics | iPhone, Mac, iPad, Services | https://Second to reach $4T valuation |
| 3 | Microsoft | MSFT | USA | $3.7T | Software | Windows/Azure cloud/Office/Gaming | https://Largest software company |
| 4 | Alphabet (Google) | GOOGL/GOOG | USA | $3.8T | Internet Services | Search/YouTube/Cloud/Android | https://Approaching $4T on Gemini 3 success |
| 5 | Amazon | AMZN | USA | $2.4T | E-commerce/Cloud | Online retail/AWS cloud services | https://Leading cloud infrastructure provider |
| 6 | Meta Platforms | META | USA | $1.3T | Social Media | Facebook/Instagram/WhatsApp/VR | https://Leading social network platforms |
| 7 | Broadcom | AVGO | USA | $1.7T | Semiconductors | Custom AI chips/networking/software | https://Key Google TPU partner |
| 8 | Taiwan Semiconductor | TSM | Taiwan | $1.0T | Semiconductors | Chip manufacturing foundry | https://Makes chips for Nvidia/Apple/AMD |
| 9 | Tencent | 0700.HK | China | $730B | Internet Services | WeChat/Gaming/Social media | https://Largest Chinese tech company |
| 10 | Oracle | ORCL | USA | $330B | Enterprise Software | Database/Cloud/ERP software | https://Major cloud infrastructure player |
| 11 | Samsung Electronics | 005930.KS | South Korea | $320B | Consumer Electronics/Semi | Smartphones/Memory chips/Displays | https://Global electronics conglomerate |
| 12 | ASML | ASML | Netherlands | $300B | Semiconductor Equipment | Lithography machines for chipmaking | https://Critical EUV technology monopoly |
| 13 | SAP | SAP | Germany | $290B | Enterprise Software | ERP/Business software | https://Largest European software company |
| 14 | Salesforce | CRM | USA | $260B | Enterprise Software | CRM/Cloud applications | https://Leading CRM platform |
| 15 | Adobe | ADBE | USA | $240B | Software | Creative Cloud/Acrobat/Marketing | https://Design and marketing software leader |
| 16 | Cisco | CSCO | USA | $270B | Networking | Network equipment/Security | https://Enterprise networking leader |
| 17 | Accenture | ACN | USA | $240B | IT Services | Consulting/Technology services | https://Global professional services |
| 18 | IBM | IBM | USA | $265B | IT Services/Software | Cloud/AI/Consulting/Mainframes | https://Enterprise IT and consulting |
| 19 | Texas Instruments | TXN | USA | $195B | Semiconductors | Analog chips/Embedded processors | https://Industrial semiconductor leader |
| 20 | Qualcomm | QCOM | USA | $180B | Semiconductors | Mobile processors/5G/Licensing | https://Smartphone chip leader |
| 21 | Intel | INTC | USA | $125B | Semiconductors | PC/Server processors/Foundry | https://Traditional CPU leader facing challenges |
| 22 | AMD | AMD | USA | $225B | Semiconductors | PC/Server/AI processors | https://Nvidia's main GPU competitor |
| 23 | Micron Technology | MU | USA | $135B | Semiconductors | Memory chips (DRAM/NAND) | https://Leading memory manufacturer |
| 24 | Applied Materials | AMAT | USA | $150B | Semiconductor Equipment | Chip manufacturing equipment | https://Key semiconductor toolmaker |
| 25 | Lam Research | LRCX | USA | $125B | Semiconductor Equipment | Wafer fabrication equipment | https://Semiconductor manufacturing tools |
| 26 | Palantir | PLTR | USA | $400B | Software | Data analytics/AI platforms | https://Government and enterprise analytics |
| 27 | ServiceNow | NOW | USA | $210B | Software | IT service management/Workflow | https://Enterprise workflow automation |
| 28 | Intuit | INTU | USA | $220B | Software | TurboTax/QuickBooks/Credit Karma | https://Financial software for consumers/SMBs |
| 29 | Uber | UBER | USA | $195B | Transportation Tech | Ride-hailing/Food delivery | https://Leading mobility platform |
| 30 | Snowflake | SNOW | USA | $60B | Software | Cloud data warehouse | https://Modern data cloud platform |
| 31 | Dell Technologies | DELL | USA | $135B | Hardware/Services | PCs/Servers/Storage | https://Leading enterprise hardware provider |
| 32 | HP Inc | HPQ | USA | $45B | Hardware | PCs/Printers | https://Consumer and business PCs |
| 33 | Palo Alto Networks | PANW | USA | $135B | Cybersecurity | Network security/Cloud security | https://Cybersecurity leader |
| 34 | CrowdStrike | CRWD | USA | $125B | Cybersecurity | Endpoint security/Threat intelligence | https://Cloud-native security platform |
| 35 | Arista Networks | ANET | USA | $130B | Networking | Data center networking/Cloud | https://High-performance networking |
| 36 | Synopsys | SNPS | USA | $110B | Software | Electronic design automation | https://Chip design software |
| 37 | Cadence Design | CDNS | USA | $100B | Software | Electronic design automation | https://Chip design and verification |
| 38 | Workday | WDAY | USA | $75B | Software | HR/Financial management cloud | https://Cloud enterprise software |
| 39 | Autodesk | ADSK | USA | $75B | Software | CAD/3D design/Engineering | https://Design and engineering software |
| 40 | NetApp | NTAP | USA | $35B | Storage | Data storage/Cloud infrastructure | https://Enterprise storage solutions |
| 41 | Shopify | SHOP | Canada | $130B | E-commerce | E-commerce platform for merchants | https://Enabling small business e-commerce |
| 42 | Booking Holdings | BKNG | USA | $180B | Travel Tech | Online travel booking (Booking.com) | https://Leading online travel platform |
| 43 | Airbnb | ABNB | USA | $90B | Travel Tech | Vacation rental marketplace | https://Alternative accommodation platform |
| 44 | Zoom Video | ZM | USA | $25B | Software | Video conferencing/Communications | https://Video communications platform |
| 45 | DocuSign | DOCU | USA | $15B | Software | Electronic signature/Contract mgmt | https://Digital agreement platform |
| 46 | Datadog | DDOG | USA | $50B | Software | Cloud monitoring/Analytics | https://Infrastructure monitoring |
| 47 | Zscaler | ZS | USA | $45B | Cybersecurity | Cloud security/Zero trust | https://Cloud security platform |
| 48 | MongoDB | MDB | USA | $40B | Software | Database (NoSQL) | https://Modern database platform |
| 49 | Fortinet | FTNT | USA | $80B | Cybersecurity | Network security/Firewall | https://Integrated security platform |
| 50 | Marvell Technology | MRVL | USA | $95B | Semiconductors | Data infrastructure chips | https://Storage and networking semiconductors |
| Notes: | |||||||
| - Market caps are approximate as of December 1 2025 and fluctuate daily | |||||||
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The watch list is for informational purposes only and that does not actually represent the actual assets of the Fund
While technology and the innovation that surrounds new technologies has been the flavor of recent years, it has been an area of vast opportunity for decades.
Now, with the world having entered the digital age, digital transformation across all industries is of paramount focus for all boards and CEOs.
This is producing unprecedented opportunities for investors through identifying both successful disruptors and industries where there is significant disruption to traditional means of conducting commercial activities.