DELL - Why Nvidia Super Micro Computer Dell and Other Artificial Intelligence (AI) Stocks Rallied This Week
2024-06-20 14:11:32 ET
Much of the market rally this year has been driven by excitement regarding artificial intelligence (AI) and the growing number of potential applications for the technology. Conservative estimates place the market value of generative AI in the neighborhood of $1 trillion, while others are much higher. Companies at the leading edge of technology -- those providing the semiconductors and servers necessary to integrate AI -- have seen demand for their products soar, helping fuel the rally.
With that as a backdrop, AI-centric server maker Super Micro Computer (NASDAQ: SMCI) surged 12.2% this week, computer and server specialist Dell Technologies (NYSE: DELL) jumped 11.1%, memory and storage chipmaker Micron Technology (NASDAQ: MU) climbed 2.6%, and Nvidia (NASDAQ: NVDA) climbed 2% as of 12:52 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence .
A number of intriguing developments helped push these AI stocks higher.
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Why Nvidia, Super Micro Computer, Dell, and Other Artificial Intelligence (AI) Stocks Rallied This Week