Alger portfolio manager Ankur Crawford said on CNBC that political backlash against AI data centers could become a decisive issue in the midterm elections and, in a worst-case scenario, turn into a moment that could "kill AI." She said many complaints tied to water use and noise amount to FUD — fear, uncertainty, and doubt — but added that pressure on the power grid is real and is more likely to show up later in the decade. Crawford pointed to Texas Governor Greg Abbott as an example of the shift. Abbott had previously described Google’s $40 billion investment as proof of Texas’ AI leadership, but this summer introduced new water and electricity standards and ordered utility audits for data center permits. Crawford said that kind of political resistance threatens the new data center capacity that underpins growth assumptions for Nvidia. Even so, she said she remains bullish on Nvidia, arguing that expectations for its 2028 earnings leave the stock trading at a low double-digit price-to-earnings multiple, with shares looking like a "coiled spring" relative to growth.
Alger portfolio manager Ankur Crawford said on CNBC that political backlash tied to AI data centers could become a decisive issue in the midterm elections and could even turn into a moment that would "kill AI."
Crawford said concerns around data centers’ water use and noise complaints are mostly "FUD," or fear, uncertainty, and doubt. Power demand, though, is a real issue, and she said the strain is likely to become more visible later in the decade.
She pointed to Texas Governor Greg Abbott as a sign of that shift. Abbott had earlier framed Google’s $40 billion investment as evidence of Texas’ AI leadership, but this summer he introduced new water and electricity standards and ordered utility audits for data center permits.
According to Crawford, that political resistance threatens the new data center capacity behind Nvidia’s growth assumptions. She said she still favors Nvidia, adding that market expectations for the company’s 2028 earnings leave the stock at a low double-digit price-to-earnings multiple, with the shares looking like a "coiled spring" relative to growth.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
