Move over, Nvidia. Investors are obsessed with this AI stock you may never have heard of
CNN
Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Nvidia isn’t the only stock capturing the attention of AI enthusiasts these days. Nvidia is undoubtedly the poster child for artificial intelligence. Shares of the American chipmaker have soared roughly 277% over the last 12 months, helping drive a powerful bull market that’s led stocks to record highs. Nvidia closed above a $2 trillion market cap on March 1, joining an elite cohort including Apple and Microsoft. But there’s another AI-related stock that has quietly logged eye-popping gains. Shares of Super Micro Computer (SMCI) have surged about 296% so far in 2024, following a 246% jump in 2023. Supermicro’s stock gained even more momentum in January, after the company reported second-quarter results that blew past expectations and raised its full-year revenue forecast. Supermicro’s stock was one of the most popular names bought by Charles Schwab clients in February, according to the firm’s latest trading activity index.
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