Could This Artificial Intelligence (AI) Stock Be the Next Nvidia?

Broadcom's (NASDAQ: AVGO) shares surged by nearly 25% after the company posted an impressive financial performance for the fourth quarter of fiscal 2024 (ended Nov. 3). This leading custom chip designer and infrastructure software maker has emerged as a major beneficiary of the ongoing artificial intelligence (AI) trend, especially since hyperscalers seek specialized options to improve productivity and reduce costs.While Nvidia's (NASDAQ: NVDA) general-purpose Hopper and Blackwell architecture AI chips are highly sought-after in the AI market, Broadcom has successfully created its niche. Broadcom works closely with customers to develop custom AI accelerators (XPUs) and networking infrastructure tailored to their AI needs.Nvidia's AI chip dominance has been pivotal in propelling its stock by nearly 163% in 2024. Broadcom's shares are also up by almost 115% in 2024. Can this AI stock become the next Wall Street favorite and take Nvidia's position? Let's find out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool