5 Artificial Intelligence (AI) Hardware Stocks -- Not Named Nvidia -- That Are Crushing the Market and Are Still Cheap

Semiconductor stocks have taken off big-time in the past year. The PHLX Semiconductor Sector index gained an impressive 51% during this period thanks to the booming chip demand triggered by the growing adoption of artificial intelligence (AI) applications.

Semiconductors play a central role in the AI revolution. The training of AI models such as OpenAI's ChatGPT was made possible using chips designed by the likes of Nvidia (NASDAQ: NVDA). This explains why Nvidia's AI-focused graphics processing units (GPUs) have been selling like hotcakes over the past 18 months, leading to a sharp jump in Nvidia's revenue and earnings.