Save for laterThe rally in AI-linked stocks that marked the latest ?earnings season has shifted the focus of the AI investment story from whether Big Tech’s spending spree will pay off to the kind of companies that will deliver returns over the longer term, investors say.Results Microsoft (MSFT-Q) and Amazon (AMZN-Q) reassured markets that demand remains robust for the infrastructure that underpins artificial ?intelligence.Cloud growth ?is accelerating, and capacity constraints persist.The question for some of the world’s biggest asset managers is which companies can sustain profit growth once those constraints ease.Many retain significant positions in semiconductor stocks even after a…