An Engineer's Guide to the AI Trade

Dr. Ankur Crawford of Alger joins Dave Nadig to discuss investing in change rather than chasing technology. Drawing on her semiconductor engineering background, she explains why today's incumbents could become tomorrow's disrupted and lays out a thesis that IT spending is shifting from software toward hardware and networking. She also addresses data-center overbuild fears, the shortened investing horizon, the bear case for Nvidia, public exposure to private-market innovation, and practical advice for advisors sorting through AI products.

1. Crawford argues IT spending is shifting away from software and toward hardware and networking.
2. Alger sold most of its software holdings three years ago, according to the discussion.
3. She addresses fears of a dot-com-style data-center overbuild using an F1 analogy to argue this cycle is different.
4. The conversation covers why the investing time horizon has shrunk to 3 to 5 years, the bear case for Nvidia, and how public investors can get exposure to private-market innovation.