ALGER PORTFOLIO MANAGER: AI MOMENTUM ACCELERATING

AI DESK■ 1 MIN READ

THU, JUL 9, 2026

■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE

Ankur Crawford, Executive Vice President and Portfolio Manager at Alger, highlighted the rapid pace of AI development and assessed Meta's AI strategy implications for the tech and cloud computing sectors.

Crawford spoke on Bloomberg's "The Close" with hosts Romaine Bostick and Katie Greifeld about the accelerating AI landscape. The executive emphasized that technological advancement in artificial intelligence is moving at an unprecedented speed, creating significant shifts across multiple industries. Meta's AI initiatives are positioning the company as a major player in the competitive AI space, with potential ripple effects throughout cloud infrastructure and broader technology sectors. The strategy signals how established tech giants are doubling down on AI capabilities to maintain market relevance. For investors, Crawford's comments underscore the importance of monitoring how major tech companies' AI investments may reshape cloud computing demand and sector valuations. The rapid evolution means companies must continually adapt their strategies to keep pace with technological change.

■ SOURCES

► Bloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

■ MORE FROM THE AI DESK

P423AI MAY EXPAND LEGAL WORK, NOT ELIMINATE IT

Contrary to predictions that artificial intelligence will shrink the legal profession, some law firms argue the technology could actually generate more billable work. Gary Wingens, chair at Lowenstein Sandler, discusses how his firm is deploying AI and its implications for lawyer employment.

2H AGO— AI Desk

P418MONTEFIORE REPLACES 12 NURSES WITH AI SOFTWARE

Montefiore hospital in the Bronx laid off 12 nurses and replaced them with AI-powered software for utilization review work. The New York State Nurses Association claims the move violates a recently negotiated contract.

2H AGO— AI Desk

P414US ESTIMATES AI MODEL THEFT COSTS $6B YEARLY

The US government estimates that unauthorized distillation of AI models costs American labs up to $6 billion annually. Major AI companies including Anthropic and OpenAI have flagged the practice as an existential threat to national security.

2H AGO— AI Desk

P416CHINA LEADS GLOBAL AI ADOPTION WITH MEDICAL AND SURVEILLANCE SYSTEMS

China has embraced artificial intelligence across sectors from healthcare to logistics, deploying AI doctors to millions of users and autonomous drones for food delivery, while also integrating the technology into state surveillance infrastructure.

2H AGO— AI Desk

◄ BACK TO NEWS

ALGER PORTFOLIO MANAGER: AI MOMENTUM ACCELERATING

■ MORE FROM THE AI DESK

■ SUBSCRIBE TO THE DAILY BRIEF