The market for AI infrastructure is specializing and maturing, Raymond James analysts write in a note summarizing their experiences at the roughly 15,000-person Open Copmute Project Global Summit in San Jose. "Our most important takeaway is that the AI infrastructure market is becoming more open, more heterogeneous and more specialized," they write. The connections between various elements of AI infrastructure are moving closer together, computer racks are growing denser, and companies are increasingly looking at specialized components, they write. "We view these trends as generally favorable for our semiconductor, optical and networking coverage, although greater openness should also intensify competition and create some offsetting pressure on content per system."