Overview

Barclays' technology analysts have compiled a list of more than a dozen networking and interconnect companies that they believe will benefit from the accelerating build‑out of artificial‑intelligence (AI) infrastructure. The commentary, published on 18‑06‑2026 by editor Vahid Karaahmetovic, notes that the sector is being driven by an AI arms race that is creating strong demand for digital and power‑infrastructure components.

Projected AI Infrastructure Spending

Barclays projects that annual AI infrastructure expenditure from Western hyperscalers and AI laboratories could surpass $1 trillion, which is over $300 billion above current consensus estimates. The analysts also highlight potential additional upside from sovereign AI initiatives and from China, with the spending trajectory expected to peak around 2028.

Core Networking & Interconnect Companies

The firm identifies the following ten companies as essential “pick‑and‑shovel” providers for the AI build‑out:

  • Broadcom Inc. – manufactures Ethernet switching silicon, custom AI accelerators, and fiber‑optic components for large‑scale AI clusters.
  • NVIDIA Corp. – develops the Spectrum‑X Ethernet platform, InfiniBand, and NVLink interconnects to enable high‑efficiency AI clusters.
  • Cisco Systems Inc. – offers Silicon One switching platforms and an optics portfolio that supports 800 G LPO and ZR/ZR+ modules.
  • Corning Inc. – supplies high‑density optical fiber, cable, and connectivity solutions tailored for AI‑enabled data centres.
  • Arista Networks Inc. – produces high‑speed Ethernet switches and supports pluggable optics for AI scale‑out and scale‑up networks.
  • Amphenol Corp. – provides high‑speed connectors, power solutions, and fiber‑optic interconnects used in AI and machine‑learning systems.
  • TE Connectivity Ltd. – delivers 800 G/1.6 T electrical and optical connectivity solutions, including backplane and high‑speed data cables.
  • Lumentum Holdings Inc. – supplies high‑performance indium‑phosphide lasers and optical transceivers for hyperscale AI clusters.
  • Coherent Corp. – offers high‑performance optical transceivers, optical circuit switches, and other optical‑based products for hyperscale AI data centres.
  • Celestica Inc. – designs and manufactures 800 G and 1.6 T open‑networking switches for hyperscale AI data centres.

Additional U.S.-Listed Companies Mentioned

Barclays also references several other U.S.-listed firms that operate in the same segment, including Astera Labs Inc., Marvell Technology Inc., MACOM Technology Solutions Inc., Credo Technology Group Inc., Fabrinet, Keysight Technologies Inc., and Clearfield Inc.

Market Reaction (Ticker Moves)

At the time of publication, the article lists recent price movements for a selection of the highlighted stocks, indicating sector optimism: Broadcom (AVGO) +4.54%, Marvell Technology (MRVL) +8.86%, Cisco (CSCO) +0.23%, NVIDIA (NVDA) +1.92%, Arista Networks (ANET) +2.40%, among others. Some tickers showed modest declines, such as Fidelity National Information Services (FN) -2.78% and Clearfield (CLS) -0.47%.

Publication Details

The piece was generated with AI assistance and reviewed by an editor, with a disclaimer directing readers to the platform’s terms and conditions.