Artisan Focus Fund on Astera Labs, Inc.
Thesis
Astera Labs is included in Artisan's Compute Infrastructure theme and was a meaningful Q2 contributor. The fund believes the scale of AI infrastructure spending has moved well beyond its original expectations, with token demand and data-center capacity rising rapidly. The key bottleneck is now computation, creating opportunities across the semiconductor and data-center hardware stack. Astera Labs provides exposure to that expanding infrastructure requirement.
“Taiwan Semiconductor, Applied Materials, Analog Devices, NVIDIA, Astera Labs and Seagate contributed meaningfully as part of our Compute Infrastructure theme.”