Understanding Hyperscalers | Masters in Business with Ankur Crawford

Dr. Ankur Crawford, co-head portfolio manager at Alger, leverages her background in mechanical engineering and material science to navigate the complexities of the semiconductor and software sectors. Her investment philosophy prioritizes identifying "change"—such as management shifts or technological breakthroughs—as a leading indicator of future growth, rather than relying on traditional growth screens. While skeptics view the current AI landscape as a bubble, the demand for compute remains insatiable, constrained primarily by physical infrastructure like power and labor rather than a lack of utility. AI’s true value lies in its ability to drive exponential innovation, particularly by bending the cost curve in healthcare and education. By applying rigorous technical analysis to market dynamics, investors can distinguish between fleeting trends and durable, value-creating shifts that redefine industry operating profiles.