From The Motley Fool: 2024-05-13 21:00:00

NVIDIA Inc (NASDAQ:NVDA) is a hot AI stock, up 504% since early 2023. A $10,000 investment then would be worth $60,400 now. Taiwan Semiconductor (NYSE:TSM) is NVIDIA’s contract manufacturer, with clients like Apple, AMD, Qualcomm. TSM’s first-mover advantage and focus on manufacturing make it the world’s only large pure play foundry.

TSM stock is not overly expensive, at 28 times earnings. Consider Kinaxis (TSX:KXS) as a Canadian AI stock. Like TSM and NVIDIA, it’s a go-to supplier in AI-related products. KXS’s AI-powered supply chain management software, RapidResponse, is industry standard with excellent reviews, making it worth further research for investors.



Read more at The Motley Fool: Here’s My Choice for the Best Artificial Intelligence (AI) Stock to Buy Right Now (It’s Not Nvidia)