Yesterday, Nvidia Corporation announced its Q4 results, which saw a staggering 265% increase from the same quarter a year earlier. The blowout quarter was once again driven by a demand for the company’s chips, which power, among other things, many of the AI technologies used today—like the servers that run ChatGPT.
In the wake of its earnings, Nvidia Corporation shares (ticker: NVDA) are up over 14.5% in premarket trading to $773, as of the time of this writing. But in addition to its own share price getting a bounce, Nvidia’s stock surge seems to be a tide that’s lifting other AI-related stocks, including other chipmakers and tech companies that are betting heavily on artificial intelligence.
As of the time of this writing, these are some other AI-related stocks that are up in premarket trading this morning:
- Taiwan Semiconductor Manufacturing Company Limited: The all-important Taiwanese chipmaker’s stock (TSM) is up over 3.7%. TSMC makes the most advanced chips on the planet and they help power the machine learning/AI tasks in devices including Apple’s most powerful computers.
- Advanced Micro Devices, Inc.: The semiconductor company is another one of the biggest chipmakers in the world. It also makes the Ryzen AI processors for PCs. Advanced Micro Devices stock (AMD) is up over 6.2%.
- Arm Holdings plc: If you own a smartphone, chances are Arm tech powering it. The company’s chip technology is found in a majority of the smartphones on the planet. The chips unsurprisingly then help power today’s AI smartphone technology. Arm Holdings shares (ARM) are up over 9.2%.
- Super Micro Computer, Inc: The company is one of the world’s premier providers of high-end servers and offers numerous solutions for companies that need servers powerful enough to run AI tasks. Shares in Super Micro Computer (SMCI) are currently up nearly 15%.
- Palantir Technologies Inc.: The Peter Thiel-owned big data company offers several AI solutions for businesses. Palantir shares (PLTR) are currently up over 6%.
- C3.ai: C3.ai specializes in enterprise AI solutions. The company’s shares (AI) are currently up over 6%.
- Microsoft: The Windows maker has numerous pans in the AI fire, but the company’s biggest AI advantage is its partnership with ChatGPT maker OpenAI. Microsoft stock (MSFT) is currently up 1.7%.
- Meta: Like Microsoft, the Facebook owner is all-in on AI. It’s currently working on technology that uses AI to facilitate conversations between people who don’t speak the same language, and it has its own ChatGPT competitor Llama 2. Shares of Meta (META) are up 2.56%.
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