The artificial intelligence (AI) supercycle is entering a quieter yet crucial second phase, focusing on the foundational infrastructure that supports AI data centers. While companies like Nvidia captured headlines during the initial chip-driven surge, lesser-known players are now critical to the ongoing buildout. Keysight Technologies (NYSE: KEYS) and Calix (NYSE: CALX) are two companies positioned to benefit from this shift, even as they trade near 52-week lows.

Keysight reported a robust fiscal Q1 2026 with a 23% revenue increase to $1.6 billion, driven by demand for optical transceiver validation essential for AI workloads. Its full-stack model, which includes hardware, software, and services, has led to a sticky revenue mix, with management projecting over 20% growth for the year. Meanwhile, Calix is capitalizing on federal funding for rural broadband, recently launching a platform that integrates AI for local internet providers, achieving record revenue and positive cash flow over the last five quarters.

Investors looking for exposure to the AI infrastructure space should consider these two companies, as they represent significant growth potential during a pivotal phase of the AI supercycle.

Source: fool.com