AI's Hidden Winners: OSATs, Photonics, and Cooling Gear Up the Next Compute Boom

AI investment is shifting from chipmakers to the bottlenecks that scale AI systems. The next winners will be firms solving advanced packaging (OSATs like ASX and AMKR), data movement via optical interconnects (Fabrinet FN, Coherent COHR, Lumentum LITE), and liquid cooling (Vertiv VRT, Ecolab ECL) as hyperscalers spend about $2 trillion on infrastructure and GenAI revenue tops $175 billion, signaling a new compute supercycle beyond AMD, MU, and NVDA.