The tech realm is ablaze with fervor as artificial intelligence takes center stage. While this narrative is captivating, it is not the sole narrative propelling the ascent of up-and-coming tech equities that could potentially ascend to superstar status.
Investors with a thematic bent are funneling into the realms of artificial intelligence and machine learning. Despite hurdles surrounding the monetization of products and services, the vista ahead remains bright. The tech sector stands as the fertile ground from which the forthcoming tech behemoths might sprout.
Beyond the AI realm, other pivotal factors come into play when scrutinizing promising tech stocks. Fintech exerts a palpable influence on the technological future, as does e-commerce and myriad other sectors. The enterprises discussed below traverse these domains and more, presenting an intriguing vista for investors in search of tomorrow’s luminaries.
Advanced Micro Devices (AMD)
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Advanced Micro Devices (AMD) (NASDAQ:AMD) has been swiftly ascending since late 2023, potentially on the cusp of attaining superstar status. For investors yet to dip their toes in AMD’s waters, a fortuitous moment seems to be unfolding as the company seems to hit a temporary pause. Some view this pause as a foreboding sign for the AI chip segment, while others perceive it as an opportune moment. Count me in the latter camp.
Can AMD truly rival Nvidia (NASDAQ:NVDA) and potentially even surpass it? Insights, much like this piece, intimate that the tussle for AI chip supremacy may not result in a solitary victor. This underlines that AMD doesn’t necessarily need to dethrone Nvidia to thrive.
AMD merely needs to persist along its current trajectory. The company has already demonstrated its capability to overthrow titans, exemplified by its takedown of Intel (NASDAQ:INTC). Whether it outpaces Nvidia or not, ample room for trajectory remains.
CEO Lisa Su envisages the chip market burgeoning to a $400 billion colossus by 2027, a vast opportunity that could spawn multiple victors.
SoundHound AI (SOUN)
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SoundHound AI (NASDAQ:SOUN) emerges as a prime contender for future tech stock stardom. The recent disclosure of Nvidia’s investment in SoundHound AI underscores this outlook.
Focusing predominantly on speech recognition technology, the company currently caters to a clientele spanning restaurants and call centers. A divergence from the generative AI frenzy, which is fixated on producing text and images via AI, SoundHound AI delves deeper into conversational AI, aimed at emulating human language.
Nvidia’s stake in the enterprise telegraphs the chip leader’s anticipation of burgeoning growth within this sphere. With an impending presentation at Nvidia’s upcoming Tech conference slated for March 18, SoundHound AI’s upward trajectory hints at potentially game-changing revelations on the horizon.
