Equity investors are scouring Southeast Asia for alternatives to play the artificial intelligence theme as tech giants pour billions of dollars in infrastructure spending over the next few years.
Power producers are becoming a favorite as more data centers are set up in the region, thanks to lower energy and land costs, according to analysts. Firms in the information technology services, telecommunications and semiconductor sectors are also well placed to benefit.
"Utility companies and companies that supply the electrification and the grids are a lot more interesting for us,” said Kenneth Tang, a portfolio manager at Nikko Asset Management.