Prediction: These Artificial Intelligence (AI) Growth Stocks Will Continue to Lead the Nasdaq's Rebound
Artificial intelligence (AI) stocks are driving the Nasdaq Composite index's rally, with companies like AMD and Amazon poised to benefit from the AI build-out. AMD is set to introduce a new high-core-count CPU designed for agentic AI, while Amazon has seen strong demand for its custom CPUs and AI accelerators.
The Nasdaq Composite index has rallied after falling into correction territory in March, driven by artificial intelligence (AI) stocks. Five companies plan to spend $700 billion in data center-related capital expenditure this year. AMD is well-positioned to benefit from the AI boom, being the leader in the CPU data center space and set to introduce a new high-core-count CPU designed for agentic AI. AMD has also secured GPU deals with Meta Platforms and OpenAI. Amazon has been making custom CPUs since 2018 and has seen strong demand for its Graviton CPUs, signing a multiyear deal with Meta. Amazon's custom AI accelerators are also gaining traction, with a recent partnership with Anthropic worth $5 billion.
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