Forget Nvidia: These Artificial Intelligence (AI) Stocks Are Much Better Buys
The artificial intelligence (AI) market has exploded this year, with the launch of OpenAI's ChatGPT last November reigniting interest in the technology. Countless stocks have benefited from the sector's growth, leading the Nasdaq-100 Technology Sector index to soar 50% year to date.
Nvidia (NASDAQ: NVDA) has been one of the biggest winners amid all of the AI excitement. Its years of dominance in graphics processing units (GPUs) perfectly positioned it to profit substantially from the market's growth as the chips are crucial to developing AI models. As a result, Nvidia shares have skyrocketed 237% since Jan. 1, alongside soaring earnings.
While Nvidia has been one of the best investments in 2023, there are better options going into the new year. Investors interested in AI might be better off now buying stocks in companies that are at earlier stages in their AI expansions and have more room for growth over the long term.
Source Fool.com
