Alger Growth & Income Fund on Alphabet Inc.
Thesis
Alger sees Alphabet's broad consumer reach, technical depth and vertically integrated AI capabilities as advantages as cloud computing and AI workloads expand. Google Cloud has become an increasingly important growth driver alongside the company's advertising franchise. Strong AI-related demand, a sharp increase in Google Cloud backlog and demand for Google's TPU chips improved visibility into future growth and AI monetization.
“We believe Alphabet’s broad consumer reach, technical depth, and vertically integrated AI capabilities position the company to benefit”