The article discusses the massive investments being made in data centers, semiconductors, and chip stocks to support the growing demand for artificial intelligence (AI) applications, particularly in smartphones. According to the report, global spending on AI systems is expected to reach $154 billion by 2024, driven by the increasing adoption of AI-powered features in smartphones. This surge in demand is prompting tech giants like Apple, Google, and Amazon to invest heavily in data centers and semiconductor chips to power their AI services. The report highlights the potential for chip stocks like Nvidia, AMD, and Intel to benefit from this AI spending boom, as they supply the specialized processors required for AI workloads. Additionally, data center operators like Equinix and Digital Realty are expected to see increased demand for their services as companies scale up their AI infrastructure. The article emphasizes the transformative impact of AI on various industries and the need for robust computing power to support its growth.