Market News for Microsoft Corp (MSFT)
Data analytics company GlobalData projects that the AI market will grow 35% annually over the next few years, reaching $909 billion by 2030. Naturally, that’s made AI chip stocks extremely popular with investors. Google the words “AI chip stocks” in quotation marks, and you will get 39,600 results. AI is undoubtedly a priority subject for investors at the moment. On April 1, Barron’s reported that Microsoft (NASDAQ: MSFT ) and OpenAI plan to build a $100 billion AI data center, an investment equal to Microsoft’s capital spending over the past four years. Investors are stocked because the AI chips required to power such a large data center would be enormous. That’s good news for Nvidia (NASDAQ: NVDA ) and every other major AI player. Bank of America’s Global Research analyst Vivek Arya has buy ratings on Nvidia and four other AI chip stocks. I’d normally include Nvidia in any AI-related recommendation, but I’ll go with three that he does not mention in his article. To make my selection, I looked at the Horizons Global Semiconductor Index ETF’s holdings, which trade on the Toronto Stock Exchange....
InvestorPlace - 4/25/2024 8:00:00 AM
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