Broadcom (AVGO) is gaining market share in the AI-CHIP space, says high-tech researchers

Broadcom Inc. (NASDAQ: AVGO) has gained market share in the AI-CHIP space. With more tech giants having fewer AI chips from NVIDIA Corporation (NASDAQ: NVDA), they are creating their own semiconductors, which has recently been stated by investment bank Gil Luria at CNBC.

Luria is Da Davidson’s Head of Technology Research.

Engineers working on magnifying microscopes and developing new integrated circuits.

With help from Broadcom Inc. (NASDAQ: AVGO), Amazon.com (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOG) are increasing production of their own AI chips, Luia said. Meanwhile, Tesla, Inc. (NASDAQ: TSLA), Meta Platforms, Inc. (NASDAQ: META) and Microsoft Corporation (NASDAQ: MSFT) evaluate the AI ​​chips they have developed and are trying to produce many of them.

“Broadcom Inc. (NASDAQ: AVGO) has the opportunity to grow (and even more) to help other companies create their own chips,” Luria argued.

Stocks rose 22% last month, but rose 11% over the past three months.

While acknowledging the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold a greater promise to offer higher returns and limited downside risk. If you’re looking for AI stocks that are more promising than AVGO and have a potential of 100 times upside, check out our report on this Cheapest AI stocks.

Read next: Best AI stocks to buy now and According to the billionaire, 30 best stocks to buy now.

Disclosure: The author owns AMZN shares but does not intend to trade them within the next 48 hours. This article was originally published Insider Monkey.