3 AI Chip Stocks to Buy in the Nasdaq Correction
The Nasdaq entered correction territory earlier this week, and a number of leading artificial intelligence (AI) semiconductor stocks have been swept up in the market downturn. However, spending on AI infrastructure has not suddenly dried up, and in fact it is still on the rise.The three big cloud computing companies, for example, have budgeted spending a combined $250 billion in capital expenditures (capex) this year largely related to AI infrastructure. Meanwhile, a group of companies led by OpenAI and Softbank have pledged spending $500 billion over the next few years to go toward building AI data centers through Project Stargate. At the same time, AI start-ups and other leading tech companies are also building out AI infrastructure, including Meta Platforms, which plans to spend up to $65 billion on AI infrastructure this year. That's a lot of spending that will benefit AI chip companies this year and beyond. Continue reading
The Nasdaq entered correction territory earlier this week, and a number of leading artificial intelligence (AI) semiconductor stocks have been swept up in the market downturn. However, spending on AI infrastructure has not suddenly dried up, and in fact it is still on the rise.
The three big cloud computing companies, for example, have budgeted spending a combined $250 billion in capital expenditures (capex) this year largely related to AI infrastructure. Meanwhile, a group of companies led by OpenAI and Softbank have pledged spending $500 billion over the next few years to go toward building AI data centers through Project Stargate. At the same time, AI start-ups and other leading tech companies are also building out AI infrastructure, including Meta Platforms, which plans to spend up to $65 billion on AI infrastructure this year. That's a lot of spending that will benefit AI chip companies this year and beyond.
