AI Rally Expands Beyond Nvidia as Investors Bid Up Hardware

Bloomberg03-27

(Bloomberg) -- They may lack the pure-play allure of Nvidia Corp., but hardware firms that provide the infrastructure for artificial intelligence computing are becoming the next hot trade. Most Read ...

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Biden Gains Ground Against Trump in Six Key States, Poll Shows. Trump Vows to Pay Fraud Trial Bond Cut by 68% to $175 Million. Japan Amps Up Intervention Threat as Yen Hits Lowest Since 1990. Vital Baltimore Bridge Collapses After Being Struck by Ship. While the likes of Micron Technology Inc., Super Micro Computer Inc. and Dell Technologies Inc. have been rewarded for proven results, expectations are building ahead of the next earnings season. Nearly half the stocks on the Philadelphia Semiconductor Index have jumped at least 10% already this year, pushing the gauge’s price to sales ratio to its highest level in at least two decades.“The trick is recognizing who’s really monetizing” artificial intelligence, said Michael Sansoterr","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","BK4579":"人工智能","BK4588":"碎股","BK4550":"红杉资本持仓","BK4141":"半导体产品","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0444971666.USD":"天利全球科技基金","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","BK4503":"景林资产持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4551":"寇图资本持仓","ISBC":"投资者银行","AVGO":"博通","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","DELL":"戴尔","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","MU":"美光科技","BK4581":"高盛持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BYON":"BEYOND","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0238689110.USD":"贝莱德环球动力股票基金","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BK4529":"IDC概念","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU0072462426.USD":"贝莱德全球配置 A2","AMD":"美国超微公司","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4592":"伊斯兰概念","LU0080751232.USD":"富达环球多元动力基金A","NVDA":"英伟达","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4585":"ETF&股票定投概念","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","BK4211":"区域性银行","SMCI":"超微电脑","BK4575":"芯片概念","BK4566":"资本集团","BK4587":"ChatGPT概念","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4527":"明星科技股"},"translate_title":"随着投资者竞标硬件，人工智能反弹扩大到英伟达以外","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1,"ISBC":1,"BYON":1,"AVGO":0.9,"SMCI":0.9,"DELL":0.9,"AMD":0.9,"MU":0.7},"content_text":"(Bloomberg) -- They may lack the pure-play allure of Nvidia Corp., but hardware firms that provide the infrastructure for artificial intelligence computing are becoming the next hot trade.\nMost Read from Bloomberg\n\nTrump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest People\nBiden Gains Ground Against Trump in Six Key States, Poll Shows\nTrump Vows to Pay Fraud Trial Bond Cut by 68% to $175 Million\nJapan Amps Up Intervention Threat as Yen Hits Lowest Since 1990\nVital Baltimore Bridge Collapses After Being Struck by Ship\n\nWhile the likes of Micron Technology Inc., Super Micro Computer Inc. and Dell Technologies Inc. have been rewarded for proven results, expectations are building ahead of the next earnings season. Nearly half the stocks on the Philadelphia Semiconductor Index have jumped at least 10% already this year, pushing the gauge’s price to sales ratio to its highest level in at least two decades.\n“The trick is recognizing who’s really monetizing” artificial intelligence, said Michael Sansoterra, chief investment officer at Silvant Capital Management LLC.\nRead more: Micron Sees Biggest Rally Since 2011 After AI Boosts Outlook \nThe gains underscore a trend that’s been brewing in the AI space, as investors seek out stocks that can possibly replicate the eyepopping returns of Nvidia — which remains the only game in town when it comes to the market for processors that power AI workloads. \nBut many other components are involved, including memory chips, servers and networking components. Not to mention the equipment used to manufacture the chips themselves. \n“It’s getting more competitive,” said Brian Mulberry, a client portfolio manager at Zacks Investment Management Inc. “There’s other ways that you can access the excitement and energy in the sector.” \nMicron shares are up by about 30% in the last month, outpacing Nvidia Corp.’s 17% gain. The memory chipmaker has been on a tear since reporting earnings that included a strong sales forecast signaling high demand for AI software.\nDell jumped to a record high in early March after demand for its information technology equipment used in AI work drove sales and profit above Wall Street expectations.\nSuper Micro Computer, a maker of servers, is up 18% this month after it was added to the S&P 500 Index. The company, which reports earnings May 2, will have to live up to expectations that it’s grown revenue more than 200% in the quarter to keep its rally going.\nStill, while the rally has broadened, some chipmakers attempting to catch up with Nvidia such as Broadcom Inc. and Advanced Micro Devices Inc. have been under additional pressure as they continue to lag the industry leader. Broadcom slumped earlier in March after earnings disappointed, while AMD’s revenue forecast in January was downbeat. It has recently been weighed down by a report that China will limit use of its chips.\nRead more: Nvidia Traders Find Reasons to Worry Beyond Sky-High Stock Price\nAnd with Nvidia still facing sky-high expectations, for some bulls it may be time to identify the next big winner in the AI wave.\n“There’s every reason to continue to believe that Nvidia will go higher, but it’s not going to have another 100% return form here,” said Mulberry. “Looking ahead three years, they might actually get a better return on investment.”\nTech Chart of the Day\nShares in video game retailer Gamestop Corp. were poised for the biggest decline in nine months after one of the original meme stocks reported a plunge in revenue. The drop comes after the stock benefited from a run-up on hopes the Federal Reserve would likely cut interest rates this year. \nTop Tech News\n\nIt’s taken about 25 years, but Silicon Valley finally feels like the old-school Silicon Valley again.\nApple Inc. plans to kick off its annual Worldwide Developers Conference on June 10, when the company is expected to unveil its long-anticipated artificial intelligence strategy.\nMeta Platforms Inc. policy chief Nick Clegg warned US government officials that limiting companies from sharing certain artificial intelligence technologies publicly could harm American influence over the relatively new and evolving global AI industry.\nDell cut 13,000 employees over the last fiscal year, a steeper reduction in headcount than initially announced.\nThe crypto sector suffered one of its biggest security incidents this year after a hacker swiped $63 million from a blockchain-based game.\nAs many as 8 million UK workers are at risk of losing their jobs to artificial intelligence with current government policy, the Institute for Public Policy Research warned.\n\nEarnings Due Wednesday\n\nPostmarket\n  \nBraze\nSprinklr\nVerint\nVnet Group\n\n\nMost Read from Bloomberg Businessweek\n\nAI Is Putting the Silicon Back in Silicon Valley\nHong Kong’s Elderly Are Increasingly Retiring in Mainland China\nIn This Coworking Space, Only the Cappuccino Isn’t Classified\nTesla’s Hunt for Self-Driving Revenue\nJokes, Pop Music and Radical Honesty: How TikTok Is Changing Home Sales\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422099111"}