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Bank of America has identified key global stocks along the AI supply chain, including several NVIDIA Corp (NASDAQ:NVDA) suppliers poised to benefit from the AI boom.
What Happened: BofA highlighted the booming AI market and the potential for smaller firms in the global AI supply chain to benefit, reported CNBC.
"The scarcity of AI/computing suppliers helps higher value-added and bargaining power, esp. for costly AI products," BofA analysts wrote.
It named various parts of the supply chain that stand to benefit from AI and its top stocks in each category. These include:
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Why It Matters: The AI computing industry is expected to grow rapidly in the coming years. Nvidia CEO Jensen Huang recently stated that the industry is still in its early stages and is likely to grow significantly, particularly in sectors like healthcare.
Earlier, Huang also emphasized that Nvidia is not just a chipmaker but an accelerated computing company, focusing on offloading workloads and running them “insanely fast.”
These developments align with Nvidia’s efforts to expand its AI applications. The company has recently announced significant collaborations with Johnson & Johnson and General Electric to integrate generative AI into surgery and enhance medical imaging.
Additionally, Nvidia is betting big on humanoid robots, with Huang explaining that the decision to develop humanoid robots stems from the fact that most of the data used to train them is derived from human movements.
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