Better Artificial Intelligence Stock: Nvidia vs. Arm Holdings
The artificial intelligence trend has supercharged the growth of many tech stocks over the past year, including semiconductor giants Nvidia (NASDAQ: NVDA) and Arm Holdings (NASDAQ: ARM). So far in 2024, Nvidia shares climbed 144%, and Arm stock rose 91%.
Nvidia is the leading provider of the semiconductors used to power AI software. Its GPUs (graphics processing units) have been heavily purchased for use in data centers built for cloud computing -- ideal places to locate AI systems hungry for massive amounts of computer power. Arm, by contrast, is a leader in mobile device technology.
According to a forecast from Statista, the AI market will expand from $136 billion in 2023 to $827 billion by 2030 -- and both of these companies are positioned to enjoy years of sales growth as a result. But if you wanted to choose just one of them to invest in now, which AI stock would be the better pick to hold for the long haul?
Source Fool.com
