Key News Facts
Nvidia (NASDAQ: NVDA) and Taiwan Semiconductor Manufacturing (NYSE: TSM) are positioned to benefit significantly from the ongoing demand for artificial intelligence (AI) computing power. Nvidia dominates the production of graphics processing units (GPUs), which are essential for training AI models. Taiwan Semiconductor manufactures chips for major AI players, bolstering its market position.
Amazon (NASDAQ: AMZN) is experiencing strong demand for AI workloads through its cloud service, Amazon Web Services (AWS), which represents the majority of its revenue. Meta Platforms (NASDAQ: META) is incorporating AI to enhance advertising experience on its platforms, including Facebook and Instagram. Alphabet (NASDAQ: GOOG) continues to grow its revenue, up 12% in Q2, amidst concerns about AI’s impact on its search business.
