Artificial intelligence has fueled one of the market's biggest investment themes. Franklin Templeton's head of digital assets and innovation, Sandy Kaul, says investors may already need to think beyond AI chipmakers and cloud companies for the next place to put their money. In a recent post, Kaul argued that the next wave of AI could benefit blockchain networks and crypto assets as autonomous AI agents begin transacting with one another. While institutional investors have poured money into semiconductor companies, hyperscale cloud providers and data centers, she said they're overlooking the infrastructure that could power machine-to-machine commerce.