New Delhi, June 11 -- The artificial intelligence (AI) boom is spreading well beyond semiconductor companies, with software, storage, networking and fintech firms increasingly emerging as beneficiaries of the technology spending cycle, according to a Bank of America (BofA) Global Research report.

The report, based on discussions at BofA's 2026 Global Technology Conference, said AI remains the primary growth driver across multiple technology segments, with demand expanding from chipmakers to companies providing software platforms, cybersecurity services, storage infrastructure and payment solutions.

In its software sector assessment, BofA said, "Demand trends across Neoclouds, infrastructure software, and cybersecurity remain constructiv...