After the AI-driven rise of Dell and HPE, will Cisco be the next 1990s tech giant to rise?

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For much of the AI ​​boom, investors focused on the obvious winners: Nvidia Corp. and memory chip manufacturers such as Micron Technology Inc..

But over the past month a quieter trend has emerged.

Some of the stock market’s biggest winners have been a group of former technology titans of the 1990s, once associated with PCs, networking equipment and enterprise hardware.

Dell Technologies Inc. and Hewlett Packard Enterprise Co. They have approximately doubled in a month.

Cisco Systems Inc. and International Business Machines Corp. both have increased by 40%.

The common denominator is the artificial intelligence infrastructure.

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The market’s sudden enthusiasm for Dell and HPE stems from a simple realization: building AI requires much more than chips.

Think of the rise of artificial intelligence as a new kind of factory. The fries…