The artificial intelligence (AI) industry is as hot as ever, with companies that directly contribute to the industry increasing stocks. Nvidia is a far-off leader in AI, and its chip technology is essential for the entire industry. Therefore, its stock is some of the most valuable things on the market. However, there is a lot of competition in the AI stock market, and rivals hope to close that gap in the coming years.
Nvidia is a 7-man stock member, grand for a reason. Its stock has exceeded 1,400% over the past five years. Meanwhile, its rivals are still behind. Investors believe the AI stock industry will continue to grow in the coming years, and the gap with Nvidia will likely end a bit. So, which AI could be comparable to Nvidia and ultimately comparable to Nvidia?
Digital Ocean (docn)
Digital Ocean (DOCN) stock is not spoken about as much as other Nvidia rivals, but it can still be strong. Digital Ocean provides on-demand cloud computing infrastructure to small and medium-sized businesses, developers and start-ups, and recently launched AI solutions. In October, the company released Droplets, an AI infrastructure platform that allows customers to rent cloud platforms to train and deploy large language models at scale.
Demand for DigitalOcean’s products was very high at launch, prompting investors to dive into sending stocks upwards. As a result, DigitalOcean is currently investing more money to strengthen its AI infrastructure. With past patterns drawing bullish pictures, sharing of DOCNs will be invaluable over the next few years and could rival Nvidia in the AI industry.
Advanced Micro Devices (AMD)
Advanced Micro Devices (AMD) recently completed a major $4.9 billion acquisition of ZT systems. The move shows AMD’s decision to expand its AI chip capabilities amid ever increasing demand for AI computing power.
AMD has risen over the past five years, but hasn’t come anywhere nearer than Nvidia. It’s been going up since 2020, but AMD was roughly the same last year. Many investors believe that the company’s potential is reviving, especially as AI becomes more important. AMD stock has bullish price forecasts over the next 12 months. In particular, CNN analysts assume it’s up 107.38% in a year to $200, a final low of $90. With stocks currently trading near this minimum, there is a big ROI potential for AMD stock investors looking for a cheaper alternative to NVDA.
Intel (INTC)
Finally, Intel (INTC) made some bold moves last year to help the company rebound. Like AMD, Intel has been slower for a few years, but it has changed. With new CEOs and recent layoffs, Intel is moving in a new direction. Therefore, INTC stocks could bounce back from recent struggles.
INTC will be roughly equal to the first share value that will enter 2025. Additionally, CNN shows that the price is close to the bottom of the 200-day moving average, indicating a strong possibility for investors buying DIP. Analysts have seen the possibility of a 400% surge in INTC stock and have proposed to hold the stock.
