The artificial intelligence (AI) boom is entering a new phase where the biggest challenge is no longer demand for AI chips but shortages of critical components needed to build AI infrastructure, according to a Nomura Report, which said supply constraints across the hardware ecosystem are likely to intensify through 2027 even as AI investment remains strong.
The report said the AI investment cycle is far from over, with demand continuing to be driven by aggressive spending on AI data centres by hyperscalers such as Microsoft, Google, Amazon and Meta. However, it warned that shortages are shifting beyond advanced chips to a wider range of components across the supply chain.
