AI Chips and Software: Companies Race to Lead Future Innovation
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Advanced Micro Devices (AMD) is challenging Nvidia in the AI chip market with its new MI300 series chips. Both companies have room to grow in this lucrative market.
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Palantir Technologies uses AI to help clients analyze big data. It serves governments, hospitals, banks and more. Revenue grew 17% last year to $2.1 billion.
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Microsoft has a growing partnership with OpenAI, the maker of ChatGPT. This positions Microsoft to benefit commercially from future AI innovations.
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Microsoft can quickly deploy new AI features into its popular software like Office and Bing search. Expect more AI integration.
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Some investors may find Microsoft's valuation high right now. But long-term investors will likely benefit as Microsoft continues innovating.