TLDR:
- AI technology has seen significant growth in recent years, leading to the rise of companies like Nvidia and Alphabet.
- Two AI stocks, Advanced Micro Devices (AMD) and Alphabet, are predicted to join the $3 trillion club in the near future.
Technological advancements have propelled the artificial intelligence (AI) market forward, with companies like Nvidia experiencing substantial gains in their stock prices. Nvidia’s success, with a market cap surpassing $3 trillion, has set the stage for other companies to follow suit. Two AI stocks that are expected to reach this milestone are Advanced Micro Devices (AMD) and Alphabet.
AMD has been focused on expanding its AI capabilities, recently acquiring server builder ZT Systems to enhance its AI chip portfolio. With a strong focus on the data-center segment and impressive earnings growth, AMD is on track to compete more aggressively with Nvidia. Alphabet, on the other hand, has outperformed its rivals in the AI cloud computing space, with Google Cloud surpassing Amazon Web Services and Microsoft’s Azure in consecutive quarters. With a solid track record of revenue growth and investments in AI technologies like Gemini, Alphabet is positioned to achieve a $3 trillion market cap.
Both AMD and Alphabet have shown promising growth in the AI sector, making them strong contenders to join the prestigious $3 trillion club in the future.