AI Rally Expands Beyond Nvidia as Investors Bid Up Hardware
- Investors are looking for value in other parts of the AI trade
- Micron has surged by around 30% in March off of solid earnings
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.
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.