As the U.S. Federal Reserve convenes its June 16–17 Federal Open Market Committee (FOMC) meeting, markets are largely pricing in a pause in interest rates. Investor attention, however, has shifted away from monetary policy and toward the earnings outlook of companies tied to artificial intelligence infrastructure and semiconductors.
In a recent report on global investment opportunities, Hana Securities identified semiconductors, data centers, power infrastructure, and cybersecurity companies as key beneficiaries of the accelerating adoption of AI technologies.
The brokerage noted that easing geopolitical tensions between the United States and Iran have contributed to lower oil prices and a recovery in risk appetite. While the June FOMC meeting is widely expected to leave rates unchanged, market focus is increasingly turning to the upcoming earnings season, beginning with Micron Technology's earnings report scheduled for June 24.
Semiconductors Remain at the Core of the AI Investment Thesis
AI semiconductors continue to represent the most prominent investment theme.
Hana Securities highlighted Alphabet, Micron Technology, and AMD as primary beneficiaries of the AI expansion cycle. Alphabet has seen AI-driven growth across its search advertising and cloud businesses, while also raising its capital expenditure plans this year to support expanding AI infrastructure.
Micron is benefiting from surging demand for high-bandwidth memory (HBM) and DRAM products as generative AI models become increasingly sophisticated. The company is pursuing large-scale capacity expansion initiatives to meet rising demand from the AI server market.
AMD is also viewed as a major beneficiary of AI-driven server growth. The company continues to gain share in the server CPU market and is expected to expand production of next-generation chips based on advanced 2-nanometer process technology.
Data Centers Drive Demand for Power Infrastructure
The rapid buildout of AI data centers is creating significant opportunities across the power sector.
Hana Securities identified Caterpillar and Bloom Energy as leading beneficiaries of this trend. Caterpillar has experienced strong growth in its power systems business, supported by rising demand for large-scale engines and gas turbines used in data centers. Its order backlog has also reached record levels.
Bloom Energy, which specializes in solid oxide fuel cell (SOFC) technology, is positioned to benefit directly from increasing electricity demand generated by AI data centers. The company has strengthened its growth outlook through an expanding portfolio of long-term supply agreements tied to data center projects.
Among Chinese companies, Siyuan Electric was cited as a potential beneficiary of global power grid modernization. Increased investment in transmission infrastructure and data center substations is expected to support demand for transformers and gas-insulated switchgear (GIS) equipment.
Cybersecurity and Optical Networking Emerge as Critical AI Infrastructure
The expansion of AI infrastructure is also creating investment opportunities in cybersecurity and network connectivity.
CrowdStrike is expected to sustain strong growth as demand increases for cloud security services and next-generation identity protection solutions. Hana Securities believes the company's integrated security platform strategy could further strengthen its market position.
Optical communications provider Lumentum Holdings was also identified as a beneficiary of expanding AI data center networks. Growing demand for high-speed transceivers, optical components, and laser technologies is expected to support both revenue growth and profitability.
China's Foxconn Industrial Internet (FII), a key original design manufacturing (ODM) partner within Nvidia's AI server supply chain, is likewise positioned to benefit from rising demand for AI servers and data center networking equipment.
AI Investment Themes Expand Beyond Chips
The central message emerging from Hana Securities' report is that the AI investment opportunity is no longer confined to semiconductor companies.
As competition intensifies around AI models and computing capacity, investment is expanding beyond memory and GPUs into power systems, cybersecurity platforms, optical networking infrastructure, and grid modernization. The growth engine of the AI industry is increasingly shifting from software innovation alone toward the large-scale deployment of physical infrastructure, creating new opportunities across the broader AI supply chain.
