First Eagle Global Equity ETF on Alphabet Inc. Class C
Thesis
Alphabet's cloud business entered the quarter with strong contracted future revenues. First Eagle sees explosive AI-infrastructure demand, AI-focused memory production and resilient digital advertising as supporting growth. Google's full-stack AI offering is viewed as a source of prospective long-term momentum. The fund also expected a near-term benefit from hosting OpenAI's latest generative AI model.
“Google's full-stack AI solution underpins prospective long-term momentum for the company.”