Gov, heathcare, fin, other regulated regulated industries.
Much like pubcloud has pulled back for private cloud deploys, the 'cost savings' were in some case real but ephemeral after the hypers got saturated and could stair-step prices up. Private AI will be a big theme going forward I expect. Names like EverPure, formerly PureStorage, have always been excellent 'enterprise' (vs 'hyperscaler') hardware offerings also stand to do very very well.
IDK how much of that is priced in already, though.