Nvidia’s stock price has skyrocketed over the past year, driven by the company’s success in the artificial intelligence (AI) space. The stock has surged 188%, reaching over $800 per share from $277 a year ago. Nvidia’s strong performance in AI-related operations and consecutive earnings surprises have contributed to this remarkable growth.
The AI revolution is still in its early stages, offering investors an opportunity to capitalize on the potential of this cutting-edge technology. While Nvidia may have been the first to benefit from AI enthusiasm, there are other promising AI stocks worth considering. Forbes has identified seven top AI stocks with double-digit upside potential, presenting investors with alternative opportunities to invest in AI.
Among the top AI stocks highlighted by Forbes is Taiwan Semiconductor (TSM), the world’s largest contract manufacturer of semiconductor chips. TSM holds a dominant market share in global semiconductor production and has strong partnerships with companies like Nvidia, Apple, AMD, and Qualcomm. The company is well-positioned to benefit from the increasing demand for faster and more efficient computing chips.
Tencent Holdings (TCEHY) is another AI stock worth considering, operating a variety of businesses including online advertising, streaming entertainment, and fintech services. Tencent recently launched a generative AI product called Hunyuan, positioning it as a platform for business-related AI applications. The company has shown growth in revenues and profits, making it an attractive investment option.
ServiceNow, Synopsys, Crowdstrike, Marvell Technology, and Darktrace PLC are other AI stocks recommended by Forbes for their strong AI capabilities and growth potential. These companies leverage AI technologies to enhance their products and services, catering to the increasing demand for AI-powered solutions in various industries. These stocks have been favored by analysts and show positive momentum in their AI-related operations.
Overall, the surge in Nvidia’s stock price highlights the potential for AI investments to deliver significant returns. As more businesses adopt AI technologies to improve operations and drive growth, there are opportunities for investors to benefit from this trend. By diversifying their portfolios with AI stocks, investors can potentially capitalize on the growth of the AI market and secure profitable returns in the future.
