North America Equity Research 28 July 2025 Hardware & Networking Scale-Up AI Networking in Numbers: Key Forecasts from 650 Group for Scale-Up AI and Technology of Choice We recently hosted a conference call with Alan Weckel of 650 Group and Harlan Sur, J.P. Morgan's Semi & Semi Cap Equipment / IT Hardware analyst, to discuss Scale-up AI Networking. Please see Harlan Sur's report here on the takeaways from the call on Scale-up AI Networking. Below we walk through the key forecasts in relation to AI Networkin ...