Elon Musk Is Going All In on Nvidia, but Are These Two Chip Stocks Better Buys?
Yahoo Finance ·
Elon Musk made waves when he announced that Space Exploration Technologies would exclusively use Nvidia ( NVDA +0.66% ) chips going forward. It was a big coup for the graphics processing unit (GPU) maker and is sure to bring in hundreds of billions of dollars in revenue in the coming years. However, Nvidia is not the only artificial intelligence (AI) semiconductor stock in town, and Advanced Micro Devices ( AMD +1.34% ) and Broadcom ( AVGO +0.52% ) could actually be the better investments. Here's why. SpaceX CEO Elon Musk. Image source: Getty Images. Nvidia made its mark in AI model training, and there is little doubt it will remain the leader in this space. When the company developed its CUDA software platform to program its GPUs, it smartly gave the software away for free and seeded it in places doing early work on AI. The result was a generation of developers trained on its software, with most foundational AI code written using its software and optimized for its chips. This moat in training still holds strong today.
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