From Nasdaq:

The S&P 500 index hit new highs and is shaping up to be the decade of artificial intelligence. With forecasted AI spending of over $500 billion annually by 2027, companies are rushing to invest in technologies like Super Micro Computer and Nvidia, which are growing and have relatively reasonable valuations for further gains in 2024 and beyond. Super Micro’s revenue grew 103% year over year to $3.66 billion, and is expected to continue growing. Sharing the same upward trend with Nvidia, analysts expect annual revenue to reach $109 billion through the fiscal year ending in January 2026. With the value of AI investments expected to grow over the next decade, companies like Nvidia are reaping the rewards. The Motley Fool Stock Advisor analyst team recommends Nvidia, which has positions in and recommends Advanced Micro Devices, Goldman Sachs Group, and Super Micro Computer.



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