Investor excitement over generative artificial intelligence continues to center on the installation of graphics-processing units (GPU) and related equipment by data centers, which support their corporate clients’ efforts to develop the new technology. Nvidia Corp.

NVDA continues to dominate that market. But a long-term investor might be well served to think about what companies will actually do with the technology.

Nicole Kornitzer has been the portfolio manager for the Buffalo International Fund BUFIX since 2009. She is based in Paris, although Kornitzer Capital Management, which manages the Buffalo Funds, is based in Mission, Kan. Kornitzer Capital Management has about $7 billion in assets under management through mutual funds and for institutional and private clients. The firm was founded by John Kornitzer, Nicole’s father, in 1989.