While Nvidia has dominated the investment in tech landscape, advisors are now shining a spotlight on Meta Platforms and Alibaba as two compelling alternatives with strong competitive positioning, growth strategies, and appealing valuation metrics.
AI’s potential to revolutionise diverse sectors is evident, with projections suggesting a staggering addition of $15.7 trillion to the global gross domestic product by 2030. Meta Platforms, the powerhouse behind leading social media apps, stands out for its extensive AI applications across platforms and the innovative Reality Labs segment, continuing to attract billions of monthly users.
According to The Motley Fool:
“Nvidia’s biggest enemy looks to be itself in calendar year 2024. Whereas A100 and H100 GPU scarcity led to phenomenal pricing power that fueled almost the entirety of its data-centre revenue growth through the first nine months of fiscal 2024, an increase in the company’s GPU production in the current fiscal year could sap its pricing power and hamper its gross margin.”
Two AI Stocks to Consider Over Nvidia
The first stock investors are pointing to is Meta Platforms (NASDAQ: META). Despite Meta’s recent market cap surge, it remains an undervalued AI stock, especially when considering its diverse AI applications across its social media platforms and its Reality Labs segment. With Meta’s solid financial foundation, dominant market presence, and promising growth prospects, it’s garnering attention as an attractive investment option in the AI space.
The second noteworthy AI stock to consider is Alibaba (NYSE: BABA). Alibaba is a cheap AI stock that most tend to forget despite being China’s leading e-commerce company, yet the company has made significant investments in AI technologies. Alibaba’s impressive financial metrics and strategic focus on AI innovation present investors with another compelling opportunity for financial gain.
As investors navigate the complexities of the AI market, it’s important to explore the less publicised, alternative investment avenues within the AI sector. Meta Platforms and Alibaba currently are positioned as viable alternatives to Nvidia, enabling investors to diversify their portfolios while capitalizing on the immense potential of AI-driven innovation.
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