1 Phenomenal Artificial Intelligence (AI) Stock That Could Make You Rich in 2024
If investors could turn back the clock and return to the beginning of 2023, undoubtedly many would load up on shares of Nvidia (NASDAQ: NVDA). Nvidia's stock rose nearly 240% on the back of increased GPU (graphics processing unit) demand, fueled by the artificial intelligence (AI) arms race. While the stock has put up unbelievable growth, it has also become quite expensive.
But, a much cheaper alternative to Nvidia is benefiting from the same trend: Super Micro Computer (NASDAQ: SMCI). Often called Supermicro, it also had a phenomenal 2023, with the stock up nearly 250%, outperforming Nvidia. However, it's still quite cheap compared to Nvidia, making it a great way to invest in AI if you've missed out on Nvidia.
While Nvidia creates the GPUs needed to process the calculations for arduous workloads, companies can't just buy one, plug it into a computer, and expect it to be perfect. Instead, anyone who wants a supercomputer purchases multiple GPUs and places them in a data center server. Getting the architecture in these servers right is crucial for squeezing out top performance, and Supermicro specializes in this area.
Source Fool.com
