Many savvy technology investors and entrepreneurs agree: The AI revolution is the real deal, and will likely transform our lives in the years to come. But unlike other disruptive revolutions, this one should actually benefit many current incumbent technology giants. These powerful companies are, after all, the only ones with the massive financial war chests and diverse technology know-how to deploy this extremely expensive and difficult technology at scale.

No wonder the Magnificent Seven Stocks have taken off recently. But while AI chip leader Nvidia (NASDAQ: NVDA) gets most of the attention, its stock has also taken off into the stratosphere and trades at a high valuation for a chip stock.

That's why billionaire hedge fund manager Dan Loeb is betting on one of the cheapest Mag Seven stocks as his new AI bet instead.

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Source Fool.com