AI Chipmakers Surge on Booming Demand; Nvidia Stock Soars Nearly 500%
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Super Micro Computer (SMCI) stock price has surged over 200% in 2024 due to high demand for its AI servers. Revenue is expected to more than double.
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SoundHound AI (SOUN) revenue grew 47% in 2023. Growth is forecast to accelerate to over 50% in 2024 and exceed $100 million in 2025 thanks to strong demand.
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Nvidia (NVDA) stock price has rocketed nearly 500% since 2023 as its GPUs are critical for AI model training. 2024 revenue is expected to jump 233% year-over-year.
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All 3 companies have potential for continued growth but trade at expensive valuations. SoundHound looks most overvalued.
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Nvidia may be the best buy now based on growth, margins, valuation and dominance in the AI chip market. Super Micro also appealing.