Nvidia's shares hit a record high in August 2023, as demand for its data center graphics cards shows no signs of slowing down. With large enterprises now battling for dominance in the artificial intelligence (AI) landscape, this semiconductor stock seems almost invincible.

However, investors should be cognizant of the risk of supply shortages of AI chips while putting their money in Nvidia. Given the high demand for its H100 chips and the possibility of panic buying, Nvidia's top-line growth may be affected at least in the short run.

Given this backdrop, it might be more prudent for retail investors to opt for other fundamentally strong AI stocks in September. Here's why (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN) fit the bill.

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Source Fool.com