SMCI - Here Is My Top Artificial Intelligence (AI) Stock to Buy Right Now
2024-07-15 07:26:00 ET
When it comes to top artificial intelligence (AI) stocks to buy now, the primary one that investors seem to gravitate toward is Nvidia . The company wisely leveraged its core competencies in gaming and graphics processing units (GPUs) to the AI field, which benefited its stock greatly as demand for AI chips soared.
However, Nvidia stock has also risen to a nosebleed valuation, a factor that could set it up for a significant drop. Fortunately, the AI market is enormous, and other stocks appear to offer considerable growth potential. Hence, when looking for a stock to buy now, investors may earn higher returns by turning to a longtime Nvidia partner.
Instead of Nvidia, investors may want to consider Super Micro Computer (NASDAQ: SMCI) . Supermicro -- as it is usually called -- is a hardware company, and building servers powered by Nvidia's AI chips has become a game changer, to say the least. Its stock has grown 4,500% over the last five years, a growth rate that outpaces the 3,100% return Nvidia earned during that time.
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Here Is My Top Artificial Intelligence (AI) Stock to Buy Right Now