Institutional investors are moving past concerns about AI capital expenditure (corporate spending on long-term assets) and are increasingly focused on which companies can turn expanding infrastructure investment into durable profit growth. Reuters said Alphabet, Amazon, Microsoft, Meta and semiconductor suppliers are viewed as likely beneficiaries, while hyperscalers (large cloud platform operators) are seen as advantaged by their scale, customer reach and control of infrastructure as constraints ease. The shift in sentiment is also supportive of AI companies such as Anthropic, whose current market pricing appears consistent with greater optimism about its valuation prospects by the end of the year.