Alger Mid Cap Growth Fund on Astera Labs, Inc.
Thesis
Alger views Astera Labs as a key semiconductor-connectivity supplier to AI and cloud data centers. Its PCIe, CXL and Ethernet technologies help solve data-movement and signal-integrity bottlenecks between GPUs, CPUs and memory, while expanding hyperscaler relationships and a broader product portfolio enlarge the opportunity. Better-than-expected first-quarter revenue driven by hyperscalers increasing AI computing capacity reinforced the thesis.
“We believe the company is positioned at the heart of the AI infrastructure buildout”