From Nasdaq:

The FAANG acronym was coined by CNBC financial analyst Jim Cramer in 2017 to describe Facebook (now Meta Platforms,) Apple, Amazon, Netflix, and Google (now Alphabet). Bank of America analyst Michael Hartnett named a group of technology stocks the “Magnificent Seven,” all of which are pioneering artificial intelligence (AI) in unique ways. Tesla, part of the group, experienced a 23% drop in January; an investor thinks it should be kicked out, while another named the “AI 5,” an interesting group for investors to consider.
Nvidia’s H100 data center GPU chip enjoys a 90% market share. Financial results include a revenue of $18.1 billion (up 206%), with data center revenue of $14.5 billion (up 279%), and a total stock surge of 239% in 2023. The momentum should continue as Nvidia is preparing to release its H200 data center chip.
Microsoft’s $10 billion investment in OpenAI has helped it integrate generative AI applications into its entire software suite, surpassing Apple to become the most valuable company and focusing its strengths on monopolizing the AI software industry.
Advanced Micro Devices (AMD) also maintains a strong 28% market increase in 2024. The MI300 lineup of data center GPUs has seen a successful launch, and with the announcement of the company’s collaboration with Tesla, AMD is expected to experience continued growth.
Taiwan Semiconductor Manufacturing has a crucial role in manufacturing AI chips, with its revenue expected to grow by 22% in 2024 reaching above $85 billion.
Broadcom has more than quadrupled its stock over the last five years and after its VMware acquisition, the conglomerate’s expected revenue soar of 40% during fiscal 2024 suggests considerable future growth.



Read more: Forget FAANG and the “Magnificent Seven.” It’s time for the “AI 5,” According to This Analyst.