Nvidia (NASDAQ: NVDA) is now the third-largest company in the world behind Apple and Microsoft, thanks to a 200% pop in its stock price over the past year, which catapulted its market cap to $2.35 trillion.

Nvidia owes most of its recent success to its graphics processing units (GPUs) for use in data centers. These GPUs are designed to help developers build, train, and deploy artificial intelligence (AI) models. However the AI industry is rapidly expanding, and since many investors are laser-focused on Nvidia, they might be overlooking other exciting opportunities in the chip sector.

According to The Wall Street Journal, analysts have reached a bullish consensus on Advanced Micro Devices (NASDAQ: AMD) and Micron Technology (NASDAQ: MU), both of which play an increasingly important role in the AI industry. Here's why buying shares in these two semiconductor companies might be a great idea.

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Source Fool.com