ASML - Artificial Intelligence (AI) Technology Doesn't Happen Without This Stock
2024-05-31 07:30:00 ET
Artificial intelligence (AI) requires many different technologies. While some investors focus on the companies that are developing or deploying AI models, these businesses need hardware with the computing power to create and use those models.
This is why stocks like Nvidia have such growth power: The company's GPUs are used by essentially every company involved in AI.
There are alternatives to Nvidia, but all of those competitors have to use chips. While there are relatively few semiconductor manufacturers, all of them must purchase equipment for a process known as lithography from one supplier: ASML (NASDAQ: ASML) .
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Artificial Intelligence (AI) Technology Doesn't Happen Without This Stock