AI TRENDS | Bank of America Says AI Spending Is Shifting From Cloud Providers to Chipmakers

Bank of America said the AI boom is driving a major shift in industry cash flows, moving from hyperscale cloud service providers to chip manufacturers. According to Odaily, the bank said semiconductor companies are receiving a growing share of AI capital expenditures. Bank of America added that as AI infrastructure continues to expand, chipmakers are expected to be the main beneficiaries of the current AI investment cycle.