This Artificial Intelligence (AI) Stock Has Outperformed Nvidia in 2024

The booming demand for Nvidia's (NASDAQ: NVDA) artificial intelligence (AI) chips has sent shares of the chipmaker soaring in 2024. The stock has jumped an impressive 115% so far this year and that's not surprising considering the pace at which its revenue and earnings are increasing quarter after quarter. For instance, Nvidia's revenue in the first quarter of fiscal 2025 (for the three months ended April 28) increased by 262% from the year-ago period to $26 billion. Additionally, its adjusted earnings shot up a stunning 461% to $6.12 per share. Nvidia's guidance of $28 billion in revenue for the ongoing quarter, up from $13.5 billion in the year-ago period, indicates that its outstanding growth is here to stay.One AI stock has upstaged Nvidia's recent phenomenal stock price performance: Super Micro Computer (NASDAQ: SMCI) (which is also known as Supermicro). Shares of the company are up 211% so far in 2024, nearly double the returns of Nvidia.Let's see why that has been the case and check if this tech stock is capable of delivering more upside.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel