Sohn Conference: Hedge Fund Newcomers Bet on AI and Dialysis Risk

Artificial intelligence took center stage at the Lincoln Center on Tuesday, where rising hedge fund managers used the Sohn Conference to debut their latest market theses. From automated police report generation to the semiconductor supply chain, emerging investors mapped out their long-term growth targets while targeting vulnerabilities in the healthcare sector.

Rahul Kishore, founder of Epicenter Capital, opened his presentation with an AI-generated introduction to pitch Axon Enterprises. He argues that the company’s new AI suite—specifically software that drafts police reports from body camera footage—will drive growth beyond its traditional taser and bodycam business. Kishore projects the stock could double by 2028.

Kevin Salimian of Voxel Capital shifted focus to the hardware powering the AI boom. He identified German semiconductor manufacturer Infineon Technologies as a critical player in the energy demand cycle, predicting a 58% upside by the end of next year. While the long positions lean into technology, the short side of the ledger highlights a specific medical threat. Zachary Datikash of Third North Capital is betting against dialysis giant DaVita. He contends that the rise of GLP-1 weight-loss drugs will delay or reduce the need for dialysis, ultimately hitting the company’s commercial insurance margins. A DaVita spokesperson rejected these claims, stating that the narrative oversimplifies kidney care science and that the firm is actively exploring its own role in the GLP-1 ecosystem.