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Key Points
- Nvidia is expected to be a major beneficiary of the AI sector.
- Taiwan Semiconductor Manufacturing (TSMC) is experiencing strong demand for AI chips.
- Alphabet is leveraging AI as a growth driver for its business.
Nvidia (NASDAQ: NVDA) is leading the AI market with over 90% control of the graphics processing unit (GPU) market, fueled by a $100 billion investment in OpenAI. CEO Jensen Huang forecasts data center spending on AI could reach $4 trillion in the next few years.
Taiwan Semiconductor Manufacturing (NYSE: TSM) is seeing a 40% compound annual growth rate (CAGR) in AI chip demand projected through 2028, generating nearly three-quarters of its revenue from chips built on nodes of 7 nanometers or smaller.
Alphabet (NASDAQ: GOOGL) reported a 32% increase in Google Cloud revenue last quarter, benefiting from higher demand for AI workloads. The company is also advancing its robotaxi operations and quantum computing initiatives.
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