Over the past decade, Nvidia has soared to unparalleled heights, offering investors a taste of the burgeoning artificial intelligence realm. With its stronghold in GPUs, the tech giant’s success has sparked curiosity about potential newcomers on the horizon. These aspirants are usually entrenched in the semiconductor and AI sectors, a testament to the escalating demand for cutting-edge technological solutions encompassing data centers, gaming, and machine learning. As the stock market lays the groundwork for the forthcoming bull market, a handful of companies emerge as frontrunners in the quest to revolutionize modern technology.
Breaking Ground: Broadcom (AVGO)

Broadcom, nestled comfortably in the echelons of tech superiority, inches closer to the echelon of companies vying for the next Nvidia crown. As one of the globe’s paramount chip manufacturers, Broadcom plays a pivotal role in expediting AI workloads and fortifying data center connectivity.
The crux of Broadcom’s potency lies in sculpting critical infrastructure components that form the bedrock of AI expansion. Their repertoire of data center solutions, ranging from high-speed networking chips to connectivity devices, powers the very essence of computing clusters propelling AI applications forward. Noteworthy is the Trident 5-X12 chip, a pioneering switch embedded with an on-chip neural network, enabling lightning-fast classification.
The fiscal year 2023 unfurled as a tapestry of surpassing milestones for Broadcom, with record annual revenue and free cash flow (FCF) reflecting their strategic investments in network connectivity tailored for AI hyperscalers. Notably, an all-time high adjusted EBITDA margin of 65% was achieved, alongside a record FCF of $17.63 billion. Anticipating a mid to high-single-digit revenue upsurge in FY24, Broadcom’s groundbreaking AI chip holds the promise of catapulting its shares into the realm of multibagger returns.
Pioneering the Frontier: Super Micro Computer (SMCI)

A herald of innovation, Super Micro Computer emerges as a veritable powerhouse among technology stocks in 2024. Esteemed for its dominion in high-performance computing (HPC) systems, Super Micro aspires to forge formidable, energy-efficient servers tailored for rigorous AI tasks.
Super Micro’s ace lies in its avant-garde hardware designs. Fusing bespoke motherboard blueprints with cutting-edge processors from tech behemoths like Nvidia, AMD, and Intel, the company engineers a symphony of superior performance and customization. Noteworthy are their next-gen liquid cooling GPUs, outclassing rivals in their wake.
Q2 of FY24 painted a portrait of unrivaled success for Super Micro, with net sales skyrocketing to $3.66 billion, accompanied by a staggering surge in net income to $295.97 billion. EPS surged by 62% to $5.10 per share, with revenue growth guidance pointing towards a $9.5 billion to $10.5 billion range, ushering in a 35% YoY growth trajectory. As AI adoption swells and the appetite for Super Micro’s energy-efficient servers burgeons, the company persist in its ascent as one of the contenders poised to rival Nvidia.
Shaping the Blueprint: Oracle (ORCL)
Unveiling Oracle as a Promising Player in the AI Arena
Cloud Infrastructure Prowess
Oracle (NYSE:ORCL), synonymous with enterprise software, emerges as a frontrunner poised to follow in Nvidia’s extraordinary footsteps. Their robust cloud infrastructure and data center operations position them favorably to lead the AI revolution in the next decade.
Enterprise-Grade AI Solutions
Setting Oracle apart is its dedication to providing AI solutions tailored for large corporations. Unlike many AI platforms targeting consumers, Oracle’s Gen2 Cloud is on a rapid growth trajectory, evident in its continuous signing of substantial cloud infrastructure contracts.
Seamless Integration and Expansion
Oracle’s offerings seamlessly integrate with existing enterprise software, a factor that increases the likelihood of adoption by its current customer base. Simultaneously, the augmentation of data center operations is in full swing to meet the escalating demands of AI workloads.
Looking Ahead
The surge in Total Remaining Performance Obligation by 29% year-over-year to over $80 billion in Q3 FY24 signals Oracle’s soaring prospects. This figure now stands at an all-time high, underpinning the company’s sturdy foundation for sustained growth.
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.