George and Ian catch up on news and events affecting UK small and mid-cap tech.

IBM’s figures get George pondering the differing paths with AI for software vs IT professional services. He highlights the Asian IT services area, where growth is notably better than in the EU or North America, before looking at results from ActiveOps, GB Group and iOmart.

Ian comments on Oxford Metrics’ in-line update, Northcoders, and then Tracsis, where investors who bought into an earnings growth and digitalisation story have to work out where the UK rail system is now heading.

Ian eulogises about the Stanford AI report. It provides some encouraging data for UK tech proponents and provides insight into how AI is actually being used and what limited gains AI provides.

George focuses on the AI benchmarks issue – are they meaningful? Which leads Ian to question, given the huge scale and nature of many AI projects, whether any of the returns and benefits data that everyone craves is going to be valid.

George and Ian catch up on events in and around the UK small and mid-cap listed tech.

Alphawave’s lack of guidance for 2025 is no great surprise, but in an industry as complex as semiconductors can anyone take forecasts seriously. Ensilica’s recent newsflow suggests not. We can, however, confidently predict that the forecasts are wrong.

Kainos is steadier than it was, but do the cuts mean that it is now out of sync with the rest of the market. George looks to the global picture and raises the long-term question that faces the UK IT services business.

Accesso also looks to be regaining its poise but reminds us that it is not just hardware companies that are subject to customer and supply chain timing issues.

Cirata is growing sales but is it just the old UK small-cap trap (AIM business model) of sales before profits before fund raise. The change in sales strategy in the US keeps the focus on how this company can make and grow profitable sales.

Tiny Build looks to a busy year, with new products – is the games sector in a comeback year?

Finally, we touch upon the Stanford AI report – nearly 500 pages covering everything from models, to hardware, to costs to energy. Thankfully, concisely summarised.

George and Ian catch up on the jumble of news, both good and bad, for UK-listed tech.

Pinewood.AI and Raspberry Pi deliver – although inventory build at Raspberry Pi is an issue that must be monitored.

BIG Technologies and the broken small and mid-cap due diligence stack. Whilst there’s still an interesting business, there is a far more interesting story that highlights how share-based remuneration can be a useful pointer into the heart of a company and its management.

And Alphawave Semi which has had Qualcomm come sniffing. Could the market be just as confused on Alphawave’s departure as it was on Alphawave’s arrival?