Better Artificial Intelligence (AI) Stock: Nvidia vs. Super Micro Computer
Amid the ongoing artificial intelligence (AI) boom, shares of Nvidia (NASDAQ: NVDA) and Super Micro Computer (NASDAQ: SMCI) have set the stock market on fire in 2024, racking up gains of 166% and 197%, respectively, as of this writing. Thanks to the booming demand for the AI-enabling hardware they sell, they have experienced stunning accelerations in their revenue and earnings growth.
Nvidia's dominance in the AI chip market has translated into phenomenal growth, and Super Micro Computer isn't far behind. Data center operators are flocking to its modular server solutions to mount the AI chips that Nvidia and other companies sell. However, if you are looking to add an AI stock to your portfolio and want to choose between one of these two, which one should you be buying right now?
Nvidia reportedly controlled a whopping 94% of the AI chip market at the end of 2023. The company's results for the first quarter of its fiscal 2025 (which ended on April 28) suggest that its dominance has it on course for another year of terrific growth.
Source Fool.com
