Martin Sorel, founder and chairman of media firm S4 Capital, believes the war in Ukraine has the potential to benefit three of America’s largest technology companies.
“I’m very excited about the technology giants … because the war will affect them,” Sorrell told CNBC at the World Economic Forum in Davos on Monday.
He added: “The big three – Google (or Alphabet), Meta and Amazon – will benefit, I think, as a result of the war.”
Explaining his argument, Sorel said: “Defense means cyber defense and cyber crime so technology and technology companies have become really important.”
Sorrel can’t wait to see how Alphabet, Meta and Amazon can benefit from it, but all three companies are proud that their cyber security systems are at the forefront of the world.
Google and Amazon also provide cloud computing infrastructure that governments and cyber companies can use in cyber warfare.
Sir Martin Sorel, Executive Chairman, S4 Capital.
Ion Nunan Sportsfile | Getty Images
Google, Amazon and Meta did not immediately respond to CNBC’s request for comment.
The war in Ukraine has been fought both online and offline, with hackers on each side targeting the enemy’s national infrastructure, business, government and citizens.
Over the past few weeks, major technology stocks have declined amid concerns about persistently high inflation, rising interest rates and the risk of a global recession. The Nasdaq stock market fell 3.8% last week, falling for the seventh week in a row. This is the longest losing streak for the technology-heavy index in 21 years.
Asked if the world is facing a second dot com bubble, Sorrell said there has already been a “massive correction”, adding that some people think there could be a further 5-10% correction.
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