In this article, we discuss the 20 AI news and analyst ratings that you should not miss.
The artificial intelligence (AI) market continues to show tremendous growth, with significant advances across sectors. According to a report by McKinsey on the AI industry, the AI revolution is driving innovation across industries, with investment in AI increasing sevenfold in recent years despite economic downturns in other tech sectors. This surge is primarily fueled by the growing demand for AI applications in data analysis, content generation, and predictive modeling. In particular, generative AI has drawn the most attention, revolutionizing industries like marketing, customer service, and product design. Moreover, high-performing companies are heavily investing in AI to gain a competitive edge. These firms, often referred to as AI high performers, allocate a significant portion of their digital budgets – over 20% – to AI technologies. They prioritize AI not only for cost reductions but also for new revenue streams.
Read more about these developments by accessing 33 Most Important AI Companies You Should Pay Attention To and 20 Industrial Stocks Already Riding the AI Wave.
The market for AI applications is set to expand even further, with several industry reports predicting that by 2030, AI could contribute up to $13 trillion to the global economy. Over a course of the next decade, informed estimates by investment advisors at Goldman Sachs indicate that these AI tools could drive a 7% increase in global GDP, worth nearly $7 trillion, and lift productivity growth by 1.5 percentage points overall. Moreover, the bank expects established businesses around the world to spend nearly $1 trillion on developing AI infrastructure in the coming years
Prominent businesses have taken note of these developments. Latest reports suggest that investment titan BlackRock, in partnership with tech giants is likely to launch a more than $30 billion fund focused on AI. The fund will invest in artificial intelligence infrastructure to build data centers and energy projects. The need for energy is a source of particular interest to the business community as AI models require substantial computational power, leading to higher energy consumption.
The sheer scale of computational power required for AI workloads has also forced tech giants to build supercomputer clusters, stringing together expensive chips, cooling systems, networking tools, and other high-tech gear to crunch data. These AI data centers will likely consume a growing amount of energy as the use cases of AI expand. McKinsey estimates that by 2025, 15% to 20% of all data center workloads will be AI-driven, compared to less than 5% in 2020. Furthermore, according to a report from the International Energy Agency, AI data centers could account for as much as 13% of global electricity demand by 2030 if current growth trends continue. Tech giants are thus investing billions of dollars into expanding their AI infrastructure.
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20 AI News and Analyst Ratings You Should Not Miss
20. Arista Networks, Inc. (NYSE:ANET)
Number of Hedge Fund Holders: 65
Arista Networks, Inc. (NYSE:ANET) engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments. Latest reports indicate that the company has been selected by tech giant Meta to provide the networking for a massive AI model training cluster that will be powered by over 100,000 GPUs. Meta aims to use NVIDIA H100 GPUs for the cluster that features $2 billion worth of chips. It will train the Llama 4 large language model.
Evercore ISI analyst Amit Daryanani has an Outperform rating on Arista Networks, Inc. (NYSE:ANET) stock with a price target of $400. In a recent investor note, the analyst highlighted a report that claimed that Meta was putting the finishing touches on a model training cluster that would exceed 100,000 GPUs, pointing out that the cluster would be networked by Ethernet because InfiniBand could not handle clusters of this scale. The analyst detailed that there was a high probability that Arista Networks would provide the Ethernet switches for this cluster, a deal that would represent a $250 million revenue opportunity for the networking firm.
19. C3.ai, Inc. (NYSE:AI)
Number of Hedge Fund Holders: 18
C3.ai, Inc. (NYSE:AI) operates as an enterprise artificial intelligence software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The stock has registered a steep fall in price after the firm posted first fiscal quarter earnings and guidance that did not impress investors. However, Thomas Siebel, the CEO of the firm, sought to allay investor concerns, highlighting that the firm had a solid start to the fiscal year, with rising demand for Enterprise AI driving a sixth consecutive quarter of accelerating revenue growth. He added that C3 AI was the original Enterprise AI company, with an unwavering commitment to solving the most challenging problems in the enterprise.
DA Davidson recently lowered the price target on C3.ai, Inc. (NYSE:AI) stock to $20 from $30 and kept a Neutral rating on the shares. In an investor note accompanying the price update, the investment advisory highlighted the mixed quarterly results of the software firm, with total revenue growth accelerating, though subscription revenue declined quarter over quarter, leading shares lower. The advisory detailed that C3.ai continued to convey a large opportunity ahead of it and was focused on growing total revenue, though the stock also fully reflected the current growth prospects for the company.
18. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 108
Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. The company recently announced that it would be hosting an online event called Advancing AI 2024 on October 10. The event aims to showcase the next-generation AMD Instinct accelerators and 5th Gen AMD EPYC server processors, as well as Networking and AI PC updates, in addition to highlighting the growing AI solutions ecosystem of the company. Senior AMD executives, partners, customers, and developers are expected to participate in the event. AMD CEO Lisa Su will also make an appearance.
Edward Jones recently initiated coverage of Advanced Micro Devices, Inc. (NASDAQ:AMD) stock with a Buy rating and added the shares to a Stock Focus List. Commenting on the inclusion of the chipmaker on the list, the advisory forecasts that the company would deliver outsized growth as growing demand for data center infrastructure would help drive accelerating sales of chips. The investor note by the investment firm further detailed that while the acquisition of Xilinx added new programmable chip products and end-markets to AMD’s business, the company remained in the early innings of cross-selling and integrating Xilinx and AMD products.
17. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 88
Dell Technologies Inc. (NYSE:DELL) designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services. The company is one of the premier PC firms in the world. The shares have soared since a recent report by the International Data Corporation that highlighted the growth in the PC market over the past few months. Per the IDC, the global PC monitor market ended the second quarter of 2024 with 5.9% growth in unit shipments compared to the same quarter a year ago. This marked the third consecutive quarter where year-over-year growth was positive.
Mizuho analyst Vijay Rakesh recently initiated coverage of Dell Technologies Inc. (NYSE:DELL) stock with an Outperform rating and $135 price target. In an investor note, the analyst underlined that generative artificial intelligence was igniting growth and disruption across multiple markets, including AI servers which comprised the infrastructure enabling the AI revolution. In this context, per the analyst, there were two major server manufacturers spearheading this future, namely Supermicro and Dell Technologies. Generative AI was growing exponentially, supporting secular growth in the AI server market, the analyst added, but there were profitability risks from low differentiation, a concentrated customer base, and increasing competition, with Dell better positioned than Supermicro because of a broader portfolio and better balance sheet.
16. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 75
Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. The stock has rallied in the past few days after confirmation that the company would receive up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program. This package would be in addition to an already $8.5 billion federal grant the chipmaker had received from federal authorities earlier this year. The funding for the former focuses on projects for the US defense while the funding for the latter has gone into the development of a semiconductor manufacturing and research projects at sites in Arizona, New Mexico, Ohio and Oregon.
Northland has an Outperform rating on Intel Corporation (NASDAQ:INTC) stock with a price target of $42. In a recent investor note on the chipmaker, the investment advisory underlined that the US military had no alternative to TSM other than Intel for advanced logic chips and noted that the Department of Defense required that the chips they use be manufactured on US soil. For these reasons, the advisory claimed, the Daddy War Buck would continue to provide funding to the chipmaker, even though Intel needed to be split into pieces to justify the present price target.
15. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Hedge Fund Holders: 78
QUALCOMM Incorporated (NASDAQ:QCOM) develops and sells foundational technologies for the wireless industry. The Wall Street Journal recently reported that Qualcomm had approached rival Intel about a possible takeover, sparking speculation about the future of the rivalry between Arm and x86 processors, the two most famous chip designs on the market. The move is seen as an entry into the PC market by Qualcomm, which has a large smartphone business already. The AU-driven PC strategies of tech giants like Microsoft and Apple inspired the offer, per the reports, which have been corroborated by several different outlets in the US.
JPMorgan has an Overweight rating on QUALCOMM Incorporated (NASDAQ:QCOM) stock and recently lowered the price target to $210 from $230. An investor note on the latest price target detailed that the upcoming year was likely to be key for Qualcomm with the likelihood of displacement of revenue from Apple’s in-sourcing of the modem increasing. While the growth opportunities for Qualcomm remained substantial, per the investment advisory, investors would look for a clearer understanding of earnings power, incorporating headwinds from the loss of Apple revenue, which might lead to an overhang on the stock.
14. Applied Materials, Inc. (NASDAQ:AMAT)
Number of Hedge Fund Holders: 77
Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. The company is most famous for being a wafer fab equipment (WFE) supplier, a key piece of tech that enables the seamless manufacture of chips used in most modern devices. The AI boom has created explosive demand for these chips. In the WFE category, the firm has a diverse portfolio compared to peers like ASML and KLA Corp. The former specializes in lithography systems while the latter focuses on inspection and metrology equipment. Applied Materials, however, offers a range of WFE services, including Epitaxy, etching, deposition, ion implant, inspection and metrology, and hybrid bonding.
Investment advisory Mizuho has an Outperform rating on Applied Materials, Inc. (NASDAQ:AMAT) stock and recently lowered the price target to $225 from $245. The advisory forecast 2024 and 2025 wafer fab equipment spending flat and up 2% year-over-year respectively, versus prior estimates of up 3%-4%, and highlighted some challenges for the semi firm with Intel CapEx cuts into 2025 and China potential high bandwidth memory restrictions, despite strong demand from artificial intelligence into 2025.
13. Celestica Inc. (NYSE:CLS)
Number of Hedge Fund Holders: 38
Celestica Inc. (NYSE:CLS) offers a range of product manufacturing and related supply chain services. The company is involved in the manufacture and marketing of connectivity products for AI data centers, which include 400G and 800G switches, and storage solutions. In the second quarter earnings call, Rob Mionis, the CEO of Celestica Inc. (NYSE:CLS), noted that there was strong demand for the Hardware Platform Solutions marketed by the firm, comprising storage, compute, and networking products. This healthy demand, likely to increase in the coming months as hyperscalers invest in AI data centers, had helped the firm post a more than 50% year-to-year increase in connectivity revenues in the second quarter.
Celestica Inc. (NYSE:CLS) recently earned a ratings upgrade from Stifel, which boosted the stock to Buy from Hold with an unchanged price target of $58. In an investor note, Stifel analysts noted that the shares of the manufacturing firm were down since July because of concerns of slowing artificial intelligence investments from hyperscale customers following key supplier earnings reports. However, the note added that the fiscal 2025 earnings per share estimate of $4 remained entirely achievable and already reflected an expected decline in server sales due to a technology transition at top customer Google.
12. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 156
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. Latest reports indicate that ByteDance, the parent firm of social media giant TikTok, has set up a deal with TSM to mass produce two AI chips. These chips, designed jointly by both firms, could hit production within the next two years. The production of the chips is aimed at reducing the reliance of the Chinese internet technology company on American chipmaker NVIDIA. The latter currently provides chips to ByteDance for developing and operating AI models.
JPMorgan recently raised the price target on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stock to NT$1,200 from NT$1,080 and kept an Overweight rating on the shares. In a research note, the analyst at the advisory noted that TSMC was now firmly on course to improving margins in the next few years. The note further detailed that together with continued strong demand for artificial intelligence accelerators and a leading market position, the advisory expected strong earnings growth for the chipmaker in the next few years.
11. Micron Technology (NASDAQ:MU)
Number of Hedge Fund Holders: 120
Micron Technology (NASDAQ:MU) makes and sells memory and storage products. The stock has soared in the past few weeks after the company announced in an 8K filing that it may resume share repurchases. In the filing, the firm detailed that the repurchases would help offset dilution from employee stock purchase programs. Micron is one of the strongest players in the AI space with double digits growth rate in revenue and earnings per share and a memory capacity that has sold out until 2025. Many hyperscalers rely on Micron memory products, including tech giant Apple.
Investment advisory Citi recently penned a research note on Micron Technology (NASDAQ:MU), noting that based on many conversations with investors this week, estimates suggested that roughly 80% of investors were bearish on the semi firm ahead of the release of the earnings report next week. The note highlighted that every hedge fund Citi spoke with was negative while a few mutual funds were positive on the upcoming earnings print. The analysts at Citi believed the expectations for November quarter guidance from buy-side investors were roughly in line or slightly below newly revised estimates of $8 billion on revenue and $1.24 earnings per share, which was mid-single digit quarter-over-quarter growth.
10. Arm Holdings plc (NASDAQ:ARM)
Number of Hedge Fund Holders: 38
Arm Holdings plc (NASDAQ:ARM) architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers. The CEO of the firm, Rene Haas, recently appeared on news platform CNBC, to highlight the progress of his firm in the AI space. Haas told Mad Money Host and former hedge fund manager Jim Cramer that Arm has had a number of design wins in the data center over the past few years. The company had gained significant market share in the data center recently, he noted. AI workloads that require a huge amount of computing were great for Arm, he added. According to Haas, the company was in a great place going forward.
William Blair recently initiated coverage of Arm Holdings plc (NASDAQ:ARM) stock with an Outperform rating. In a research note, analysts at the advisory noted that Arm was a critical vendor of computing intellectual property with best-in-class financials. The analysts further commented that Arm provided critical computing IP that underpinned more than $200 billion in chip value across the mobile, automotive, internet of things and data center markets, with royalty/licensing revenue model driving best-in-class profitability.
9. Palantir Technologies Inc. (NYSE:PLTR)
Number of Hedge Fund Holders: 44
Palantir Technologies Inc. (NYSE:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations. It also provides software to commercial clients such as banks and hospitals. The company recently announced that it had won a $100 million contract from the US army to streamline the AI infrastructure capabilities of the latter. The contract, awarded by DEVCOM Army Research Laboratory, extends the Maven Smart System access to the Army, Air Force, Space Force, Navy, and US Marine Corps. Under the deal, a Palantir platform would support AI battlespace awareness, global integration, force management, logistics, joint fires, and targeting workflows.
Citi analyst Tyler Radke recently met Palantir Technologies Inc. (NYSE:PLTR) CFO Dave Glazer, penning a research note for investors after the meeting. The note reiterated a Neutral rating on stock with a $30 price target. The analyst told investors that the company remained upbeat on its Artificial Intelligence Platform momentum with consistent macro commentary. However, per the analyst, the recent inclusion of the software firm to the S&P 500 Index saw a 15% share uptick, which increased the valuation of the company to one of the most expensive names in software at a 25-times next 12 months enterprise value to sales ratio.
8. Broadcom Inc. (NASDAQ:AVGO)
Number of Hedge Fund Holders: 130
Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. Latest reports suggest that the company is not considering a potential takeover bid for rival Intel. News publication Bloomberg, citing people familiar with the matter, reports that Broadcom was assessing an offer for Intel but has put the brakes on the project, for now. Intel is pitching large parts of the business, including foundry, to potential buyers as it seeks to raise cash for a total overhaul. Several chip firms, including Qualcomm, are reportedly interested in buying parts of the Intel business. Such a takeover would invite scrutiny from regulators, evidenced by the fact that authorities shut down a potential merger between Broadcom and Qualcomm in 2018.
William Blair analyst Sebastien Naji recently initiated coverage of Broadcom Inc. (NASDAQ:AVGO) stock with an Outperform rating. In an investor note, the advisory underlined that Broadcom was targeting $12 billion in AI revenue in FY24 and there was room for continued steady growth into FY25 and FY26 driven by increasing custom chip demand, improved software monetization, recovery in non-AI semi chips and accelerating growth of Ethernet AI network fabrics.
7. Vistra Corp. (NYSE:VST)
Number of Hedge Fund Holders: 92
Vistra Corp. (NYSE:VST) operates as an integrated retail electricity and power generation company. The firm recently announced that it would acquire an additional 15% equity interest in Vistra Vision LLC, a subsidiary of the power firm, in a deal worth $3.2 billion. The interest would be purchased from Nuveen Asset Management and Avenue Capital Management. Vistra plans to clear the purchase through five transactions spread over the space of two years. The transaction, which is not subject to any regulatory approvals, per reports, is expected to close by the end of this year. Vistra Vision owns nuclear generation facilities with a capacity of nearly 6.4 gigawatts, as well the renewables and energy storage business and retail business of Vistra.
Vistra Corp. (NYSE:VST) has been strengthening its nuclear portfolio to capitalize on AI-driven electricity demand. Hyperscalers are turning to nuclear power operators for a 24/7 source of clean and reliable electricity, and nuclear has emerged as a strong option.
BMO Capital recently raised the price target on Vistra Corp. (NYSE:VST) stock to $125 from $120 and kept an Outperform rating on the shares. In a research note, analysts at the advisory remarked that there was positivity on the company’s announcement that it was acquiring the 15% minority interest in its zero-carbon subsidiary Vistra Vision based on the attractive implied valuation about 7.9-times on enterprise value to expected EBITDA basis for a premium zero-carbon subsidiary and viewed the transaction as being consistent with the management’s disciplined asset allocation strategy.
6. Super Micro Computer, Inc. (NASDAQ:SMCI)
Number of Hedge Fund Holders: 47
Super Micro Computer, Inc. (NASDAQ:SMCI) develops and manufactures high performance server and storage solutions based on modular and open architecture. The company recently announced that it had received a notification letter from Nasdaq stating that it was not in compliance with Nasdaq listing rule 5250(c)(1), which required timely filing of reports with the US SEC. The letter, dated September 17, was sent as Supermicro had announced a delay in filing an annual 10K report that was due at the end of August. The delay has resulted in a significant drop in the share price of the stock.
Needham recently initiated coverage of Super Micro Computer, Inc. (NASDAQ:SMCI) stock with a Buy rating and $600 price target. In a research note, the advisory recognized Supermicro as a first mover in the design of GPU-based compute systems and liquid cooled rack level solutions and a significant beneficiary from growing investment in AI infrastructure, forecasting a compound annual revenue growth rate in excess of 55% from FY21 to FY26 for the company. However, the note detailed that the advisory had modeled a gross margin recovery for Supermicro that was more conservative than management’s forecast.
5. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 165
Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. News publication Bloomberg recently reported that officials of the European Union are in the process of preparing a chargesheet against Google under the Digital Markets Act. The chargesheet would allow the EU to impose a heavy fine on the tech giant and compel changes to the business model of Google. Product results from rivals occupying a more prominent position on different Google search services are one of many bones of contention. The penalties for inaction could reach up to 10% of global annual revenue.
DA Davidson recently initiated coverage of Alphabet Inc. (NASDAQ:GOOG) stock with a Neutral rating and $170 price target. In a research note, the advisory detailed that as the company faced challenges in its core Search business, its opportunity would migrate to the rest of its portfolio, where its positioning was mixed. Analysts at the advisory expect Alphabet to continue trading at a discount to other mega-caps unless it becomes more aggressive in pursuing those opportunities.
4. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 219
Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. The company recently coordinated the penning of an open letter to the European Union, authored by senior executives at several tech firms, which warned the EU that it risked missing out on the full benefits of AI due to tech rules that invited inconsistent regulatory decision making. Per news publication The Wall Street Journal, nearly two dozen firms signed the letter, which noted that AI could boost productivity and expand the economy, but Europe may reap fewer rewards of this.
DA Davidson recently initiated coverage of Meta Platforms, Inc. (NASDAQ:META) stock with a Buy rating and $600 price target. The investment advisor called Meta a top pick within the mega-cap space, citing its combination of emerging leadership in the most important future technology platforms and an attractive relative valuation. Per analysts at DA Davidson, aside from Alphabet, Meta was the least expensive mega cap, even before factoring for the option to sever Reality Labs losses, which would take the multiple down to 16-times, thus providing downside protection.
3. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 308
Amazon.com, Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. Latest reports suggest that the e-commerce giant is slowly rolling out an artificial intelligence tool designed to help third-party sellers quickly resolve issues with their accounts and fetch sales and inventory data. In an announcement made last week, the company detailed that it was launching the new product, named Amelia, for select US sellers. Amelia is the latest addition to a series of generative AI tools launched by Amazon in the past year, like an AI-powered shopping assistant named Rufus and a chatbot for businesses dubbed Q.
Evercore ISI analyst Mark Mahaney recently raised the price target on Amazon.com, Inc. (NASDAQ:AMZN) stock to $240 from $225 and kept an Outperform rating on the shares. In a research note, the analyst noted that Amazon had ramped up its content on Prime Video with more NFL games, 66 regular season NBA games in 2025 and the 2024 PPA World Championships and monetizing that content via advertising had become a higher priority. Evercore estimated that APV would generate between $3 billion and $5.9 billion in total revenue for the tech giant in 2025, implying 3% to 9% incrementality to the FY24 Amazon ad revenue estimate of $56 billion.
2. Apple Inc. (NASDAQ:AAPL)
Number of Hedge Fund Holders: 184
Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. Just a few weeks after launching the new iPhone with Apple Intelligence, a suite of AI features heavily marketed by the tech giant, a new Apple event is likely to take place in October that would unveil the newest versions of the MacBook Pro, iMac, and the Mac Mini. The new computers would also come pre-loaded with Apple Intelligence and are expected to rival AI workloads of PCs announced by Apple rival Microsoft in the last few months. Apple had debuted Apple Intelligence back in June, the first step of the tech giant into the world of generative AI.
Morgan Stanley recently reiterated an Overweight rating on Apple Inc. (NASDAQ:AAPL) stock with a $273 price target. In an investor note, the advisory noted that Apple iPhone 16 lead times were improving but were still tracking lower year-over-year. However, lead times as a proxy for demand this early had little predictive power, contended the analysts at Morgan Stanley, who argued that the trajectory of lead times in the next 10 days was more important. First two-week lead times were directionally predictive of next 12 month shipments at the model level, but not for December quarter iPhone build revisions or total iPhone shipments, added the analysts.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 179
NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. Latest reports indicate that the chip firm has entered into a partnership with United Arab Emirates-based AI company G42 to advance climate technology. The partnership will focus on developing AI solutions aimed at boosting accuracy of weather forecasting globally. Under the deal, per the two firms, a new operational base would be established, along with a Climate Tech Lab in Abu Dhabi, which would serve as a hub for research and development. This facility would also mobilize the creation of tailored climate and weather solutions which use over 100 petabytes of geophysical data assets.
William Blair analyst Sebastien Naji recently initiated coverage of NVIDIA Corporation (NASDAQ:NVDA) stock with an Outperform rating. In a research note, the analyst noted that Nvidia had a long and storied history of designing parallel computing systems to handle complex processing tasks, which historically had positioned the chip firm as a leader in niche markets like gaming, automotive, visualization, and high-performance computing, or HPC. However, per Naji, the rising AI tide had catapulted parallel computing to the forefront of the tech industry and had driven massive demand for the company’s GPUs and parallel computing stack.
While we acknowledge the potential of NVIDIA Corporation (NASDAQ:NVDA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NVIDIA Corporation (NASDAQ:NVDA) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.
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