Elliott Management Buys Big in LSEG (LSEGY) Amid AI Data Demand

Billionaire activist Elliott Management is accumulating a significant stake in The London Stock Exchange Group (LSEGY), betting on its AI-ready financial data infrastructure. Elliott sees value in LSEG's 33 petabytes of proprietary data, much of which is inaccessible to AI models via public channels. LSEG's Data & Feeds segment, generating over 20% of revenue, includes real-time exchange data and specialized proprietary content. The company controls data access through Model Context Protocol servers. LSEG's partnership with Microsoft (MSFT) expanded distribution via Azure and Copilot. Recent Q3 results showed 6.4% organic growth, margin guidance raised, and a £2 billion share buyback program (with another £1 billion announced). Analysts average a $38.30 price target, implying about 45% upside from $26.42.