Nvidia (NVDA) has been a top performer in the S&P 500 in 2024, almost tripling in value. It is renowned for its high-performance GPUs that are in high demand for AI applications. According to Jon Peddie Research, the market for add-on GPUs grew significantly in recent years. Nvidia dominates this market, but faces competition from Advanced Micro Devices (AMD) and Intel (INTC). AMD, Nvidia’s main rival, has made significant strides in the AI chip market, with some tech giants switching to AMD chips for new AI projects in 2023. The scoring formula for evaluating online brokers and robo-advisors considers more than 15 factors, such as account fees and minimums, investment choices, customer support, and mobile app capabilities. Nvidia and AMD have been competing for dominance in the GPU market for years. Currently, Nvidia holds the lead, but AMD has made significant strides in AI chipmaking, securing major orders from tech giants like Microsoft, Meta, and OpenAI.
On the other hand, analysts are less optimistic about Intel’s prospects in the AI chip market. Despite entering the market later, Intel has struggled to gain traction compared to Nvidia and AMD. Intel’s share of the add-on GPU market is currently less than 1%. Among analysts surveyed by TipRanks covering Intel, 76% rate it a “hold,” 21% rate it a “sell,” and only 3% rate it a “buy.”
It’s worth noting that neither the author nor the editor had any investments in the mentioned companies at the time of publication.