As AI emerges and continues to drive markets, Nvidia's stock has skyrocketed. However, investors should also consider other prospects like Super Micro Computer and Intuitive Surgical. Both offer significant growth potential and present attractive opportunities for those looking to invest in the AI sector.
Super Micro Computer's promising growth
Once merely a commodity server provider, Super Micro Computer has made impressive strides in recent years, with its stock surging by 242% this year alone. The company has transformed into a provider of complete IT systems, featuring not just servers and storage, but also AI solutions. Their unique 'building block' approach allows for customizable server and storage systems, allowing clients to optimize individual components rather than replacing entire systems. Coupled with their partnerships with semiconductor giants like Advanced Micro Devices, Intel, and Nvidia, they have ensured their presence at the forefront of server technology. With the AI server market expected to experience a 50% compound annual growth rate, Super Micro Computer seems poised to ride this wave. Add to that a notable 37% year-over-year revenue increase and optimistic projections for fiscal 2024, and it's clear why this stock is worth considering.
Intuitive Surgical is another key player to watch in the AI market. As a global leader in minimally invasive robotic-assisted surgery, its shares have seen an 8.5% increase this year. The company's flagship da Vinci system, which uses AI and machine learning to enhance pre-surgical planning and intraoperative decision-making, has been instrumental in this growth. Intuitive Surgical also recently unveiled Case Insights, an AI tool designed to work hand in hand with the da Vinci system and hospital data to extract valuable surgical insights. The company has seen considerable revenue growth, with a 20% year-over-year increase in the revenue accrued from instruments and accessories. The continued investment and development in AI make Intuitive Surgical a promising bet in the AI stock market.