Two Hot AI Stocks: Nvidia and CoreWeave
Nvidia’s 11.49% gain in the last week put doubters on the artificial intelligence boom at ease. The stock advanced after CEO Jensen Huang announced that Nvidia would supply over 18,000 leading AI chips to Saudi Arabia.
Humain, a Saudi Arabian AI firm, will build an up to 500-megawatt data center. It will have hundreds of thousands of Nvidia GPUs, purchased over the next five years. The first deployment phase will see 18,000 Nvidia GB300 Grace Blackwell AI chips installed.
Investors may complement their NVDA stock holdings with Taiwan Semiconductor (TSM) and Credo Technology (CRDO). Credo supplies high-speed solutions that provide wired connections in the data infrastructure market.
CoreWeave (CRWV) soared by 56.32% in the last week, closing at $80.30 on May 16. In the first quarter, revenue quadrupled (+420.3%) Y/Y to $981.6 million. It ended Q1 with a $25.9 billion market capitalization.
In the near term, CRWV stock could pull back. Investors may want to wait for the “fear of missing out” buying momentum to ease. In the software infrastructure space, watch Fortinet (FTNT), Cloudflare (NET), and Zscaler (ZS).
Nebius Group, headquartered in Amsterdam, is a stock to watch too. It holds Nebius.AI. Nebius supplies the full-stack infrastructure for the AI industry. In February, the firm said to expect annual recurring revenue of $750 million to $1 billion.
