0709 GMT - The artificial intelligence investment opportunity is expanding beyond semiconductors, with demand growing for optical interconnects, advanced materials and power systems, Allianz Global Investors says in a note. While inflation remains elevated in many parts of the world and geopolitical risks continue to warrant caution, the overall investment backdrop remains constructive for investors willing to remain selective and diversified, the asset manager says. In Asia, investors can find opportunities in hardware suppliers and China's AI ecosystem among other themes. Allianz remains overweight equities, with the strongest conviction in emerging markets then Japan, U.S. equities, and Europe, it says.