Nvidia Leads AI Chip Stocks, But AMD and Others Poised to Challenge in 2024
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Nvidia was the top performing AI chip stock in 2023, but AMD, ACM Research, and Taiwan Semiconductor could challenge it in 2024.
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AMD launched new AI accelerators that appear competitive with Nvidia's offerings, and made strategic AI acquisitions.
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ACM Research makes semiconductor cleaning machines that will benefit from the AI boom, and has posted strong growth numbers already.
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Taiwan Semiconductor manufactures chips for top tech companies and is increasing capacity for AI chip production.
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AMD and Taiwan Semiconductor stocks look attractively valued compared to high-flying Nvidia.