While Nvidia has become synonymous with artificial intelligence (AI) chips, both Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD) are potent competitors that will challenge the market leader in the coming years. These stocks have produced incredible returns since they went public decades ago, and they could continue to deliver for investors as the market for AI accelerators explodes.

While chip-giant Intel has faced significant challenges in the past few years, including a tumbling stock price, the company has still delivered incredible returns to shareholders over its decades as a public company. Intel went public in 1971 at a split-adjusted price of just $0.02 per share. If an investor were lucky enough to buy $10,000 of Intel stock at that price and hold on for more than 50 years, that stake would be worth about $17.5 million today.

Intel is going after the artificial intelligence market in multiple ways. The company sells AI accelerators that rival market leader Nvidia, including data center GPUs and its specialized Gaudi chips. Intel's Gaudi 2 chip is garnering plenty of interest from potential customers, with the company's AI accelerator pipeline expanding sixfold in the second quarter to top $1 billion. While Gaudi 2 can't match Nvidia's H100 in raw performance, it's an economical option for those struggling to acquire enough Nvidia GPUs.

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Source Fool.com