Artisan Focus Fund on Analog Devices, Inc.
Thesis
Analog Devices is a named holding within the Compute Infrastructure theme and contributed meaningfully during Q2. Artisan sees AI infrastructure as a broad physical capital cycle rather than a narrow software trend. The opportunity has expanded into semiconductors, compute, power and cooling as computation becomes the binding constraint. Analog Devices is positioned within that broader hardware and infrastructure buildout.
“Taiwan Semiconductor, Applied Materials, Analog Devices, NVIDIA, Astera Labs and Seagate contributed meaningfully as part of our Compute Infrastructure theme.”