AI Hardware Leaders Form New AI Five Stock Group
• New "AI Five" stock group identified Nvidia, Microsoft, Taiwan Semiconductor, AMD, Broadcom • AMD making chips to power AI computing and expects $3.5B in data center chip sales in 2024 • AMD also leading in AI chips for PCs with over 50 notebook designs and 90% market share • Broadcom acquired VMware software to help optimize AI data center infrastructure • Broadcom makes networking gear to accelerate AI workloads and forecasts 40% revenue growth in 2024 • Analyst believes AI Five stocks better investments than FAANG or Magnificent Seven