Micron Technology, Inc. outperformed NVIDIA Corporation last year due to high demand for its AI-driven HBM chips. Micron reported revenues of $13.64 billion in Q1 of fiscal 2026, exceeding expectations. The company expects even stronger results in Q2, projecting revenues of $18.3–$19.1 billion. NVIDIA also saw strong growth driven by Blackwell chip demand.

NVIDIA’s revenues for Q3 of fiscal 2026 were $57 billion, up 62% YoY. The company anticipates Q4 revenues around $65 billion. NVIDIA’s profitability is expected to grow further after approval to sell H200 AI chips in China. Both Micron and NVIDIA are expected to lead in 2026; however, NVIDIA’s stock shows greater growth potential with a higher forward P/E ratio.

Investors can expect wealth creation in the 2nd wave of AI explosion. Zacks’ AI Boom 2.0 report highlights 4 under-the-radar companies likely to shine in this new phase. Investors who capitalized on the first wave of AI stocks may see leveling off, making room for new cutting-edge companies to emerge as the next leaders in AI technology.

Read more at Nasdaq: Micron vs. NVIDIA: One AI Chip Stock is Poised to Win Big in 2026