For more than a year, Nvidia Corp. has been the go-to trade for investors seeking exposure to the red-hot growth story of artificial intelligence. And yet there’s a lower-profile stock that has grown faster, rallied way more and is still cheaper than the most magnificent of the Magnificent Seven.
Super Micro Computer Inc. has more than doubled this year, building on last year’s surge of about 250% and easily eclipsing the returns of other AI-related shares, like Nvidia, Advanced Micro Devices Inc. and Microsoft Corp. It’s now up some 700% since the end of 2022 amid robust demand for its servers, the infrastructure for the chips that in turn run artificial-intelligence applications.
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