Nvidia has turned out to be a hugely popular bet on the rapidly growing adoption of artificial intelligence (AI), and that's not surprising as this technology has created immense demand for the company's graphics cards that play a central role in training AI models. Last quarter, revenue doubled year over year, and even stronger growth is expected in the current one. It's no wonder the shares have soared 198% so far this year.

However, there is another AI hardware play that has delivered even stronger gains than Nvidia this year, is way cheaper, and is expected to soar big time in the long run: Super Micro Computer (NASDAQ: SMCI). Let's look at the reasons why you should consider buying this AI play even though it has soared close to 230% in 2023.

Super Micro sells high-performance server and storage solutions that power multiple applications such as data centers, 5G mobile networks, cloud computing, and AI servers. The company has differentiated itself from other server manufacturers by focusing on building modular designs that allow it to make servers more energy efficient.

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Source Fool.com