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There’s more to the stock market’s AI trade than just buying Nvidia, according to Bank of America.
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The bank highlighted three second-tier winners that should benefit from the growing adoption of AI.
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“Rising tide could create profitable niche for next tier of vendors,” Bank of America said.
While the stock market’s artificial intelligence trade has wildly benefitted chipmakers like Nvidia and Broadcom, there is a secondary tier winners that should see further upside, according to Bank of America.
“Rising tide could create profitable niche for next tier of vendors,” Bank of America’s Vivek Arya said in a note on Sunday.
Arya observed that the accelerator market, which enables the complex inner workings of generative AI chatbots, should double over the next three years to about $200 billion.
The rapid growth in that market “could create volatile but fruitful…
