META - 2 Artificial Intelligence (AI) Chip Stocks to Watch That Aren't Nvidia
2024-04-26 09:22:00 ET
Artificial intelligence (AI) has been dominating the news cycle as a technological arms race has kicked into high gear. Microsoft (NASDAQ: MSFT) led the pack early with its investment in AI pioneer OpenAI, but Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) , Meta (NASDAQ: META) , and the rest of big tech have all made their own forays into AI, with varying degrees of success.
No company, however, has had as successful an AI run as Nvidia (NASDAQ: NVDA) . The semiconductor giant designs and sells the graphics processing units (GPUs) that allow most power-hungry AI applications to function. They have become the industry standard due to their speed and efficiency. The chipmaker is now the third-largest company in the world by market capitalization after its stock rose nearly 200% in the last year.
Investors are excited by Nvidia's recent announcement about its next-generation AI chips, the Grace Blackwell "superchips." The first iteration, the GB200, will allow for a 25-fold decrease in power consumption and 30-fold speed increases in some AI applications compared to its predecessor.
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2 Artificial Intelligence (AI) Chip Stocks to Watch That Aren't Nvidia