Nuway Capital’s latest strategic pivot offers a telling snapshot of how the artificial-intelligence boom is maturing. The UK-based alternative investment and infrastructure advisory firm is expanding its focus on graphics processing units (GPUs) and data-centre infrastructure, following the joint publication of new research with KPMG.

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The move reflects a broader reassessment among investors: in the race to profit from AI, the scarce resource is no longer clever code, but the physical machinery that makes computation possible.

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For much of the past decade, capital chasing digital megatrends, from cloud computing and social media to gaming and blockchain, has gravitated towards software champions and platform economics. Artificial intelligence initially followed the same pattern. Yet as models have grown larger and more power-hungry, attention has shifted down the value chain. The latest report from Nuway and KPMG highlights a widening structural gap between AI-driven demand for computing capacity and the availability of the underlying infrastructure required to supply it.

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Read the full article from Graeme Coles-Andrew on Yahoo! Finance and Armchair Trader