AI Buildout Signals Shift Beyond GPU: Networking Gear, Optics, Inference Scaling

Cisco's strong earnings signaled that AI demand is widening beyond chip training into switches, optics, and long-term inference infrastructure. NVIDIA and Meta's $21B CoreWeave deal underscore that AI capex is shifting from training to inference scaling, lifting networking and infrastructure names while deepening questions about peak GPU demand and sustainable margins for AI chip leaders.