Nvidia and Super Micro Positioned to Ride AI Boom, Say Bank of America Analysts
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Nvidia makes the high-performance semiconductor chips essential for AI systems. Revenue and earnings grew strongly in 2022 due to booming demand.
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Super Micro Computer provides specialized servers optimized for AI computing. Over 50% of revenue now comes from AI-related products.
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Bank of America analysts see strong continued growth for both companies driven by expanding AI demand.
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Nvidia gets a buy rating and $925 price target from BofA based on leadership in multiple AI technologies.
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Super Micro also gets a buy rating; BofA sees it benefitting from an AI server market growing 50%+ annually.