Are others seeing early-stage funding shift from AI apps to infrastructure?

I’ve been tracking early-stage funding and founder movement across AI, deep-tech, and infra for several months, and a pattern keeps repeating:

Capital is quietly rotating from apps → infra.

Not the hype-cycle rotation — the real, structural one.

Signals I’m repeatedly seeing: • inference infra growing • retrieval pipelines getting funded • data systems / cyber infra cooling less • apps (especially wrappers) slowing • founders moving to deeper layers

What’s interesting is that this shift isn’t loud. It’s forming underneath the narrative, not above it.

My question to the HN community:

Are you seeing similar signals — in your teams, companies, investment decisions, or founder circles?

Not promoting anything — just exploring the signal.