Investors are turning to Asian technology suppliers and infrastructure companies as potential beneficiaries of the next wave of artificial intelligence spending, according to a Bloomberg report.
Major AI companies including SpaceX, OpenAI, and Anthropic are preparing large capital raises that could fuel further investment in data centers and computing infrastructure.
The three companies could collectively raise tens of billions of dollars, adding to over $750 billion already committed by major tech firms to AI-related capital expenditures.
While Asian chipmakers like Taiwan Semiconductor Manufacturing, Samsung Electronics, and SK Hynix have been among the biggest winners of the AI boom, some investors are now seeking opportunities further down the supply chain.
Concerns over stretched valuations of leading semiconductor stocks have shifted attention to companies producing electronic components, advanced packaging materials, cooling systems, power equipment, and server-related products.
Samsung Electro-Mechanics and Japan's Ibiden have benefited from growing investor interest in AI infrastructure suppliers.
Demand is expanding beyond semiconductor manufacturing into server assembly, optical connectivity, testing, and power management.
Taiwan's Hon Hai Precision Industry, Quanta Computer, and MediaTek are among companies positioned to benefit from continued AI spending.
Energy infrastructure is also attracting attention. The rapid expansion of data centers has increased focus on electricity generation and transmission, with South Korea's HD Hyundai Energy Solutions and Daewoo Engineering & Construction performing strongly.
Some investors are targeting companies involved in robotics and autonomous systems, known as "physical AI," which have gained momentum through partnerships with Nvidia.
Many investors expect AI infrastructure spending to continue for years, supporting demand across a broader range of companies than the semiconductor leaders that dominated the initial phase.
