Nvidia might be the face of the AI-chip revolution (though prediction markets like Kalshi put Anthropic the edge (16%) when it comes to which company will have the No. 1 AI model this year), but it’s not the whole story. Behind the scenes, a wave of competitors and collaborators are reshaping the silicon landscape.
From custom accelerators to mobile-edge breakthroughs, these six stocks are playing pivotal roles in powering the next generation of AI — quietly grabbing market share and investor attention.
If you’re serious about betting on AI, it’s time to look beyond the giant.
AMD – Nvidia’s Sharpened Rival
Advanced Micro Devices (AMD) has become a serious threat in the AI-chip race. Its MI300X chips are increasingly showing up in data centers, with performance gains that rival Nvidia’s offerings. AMD just resumed some AI-chip sales in China, bolstering its global reach. Wall Street is responding: recent upgrades pushed AMD stock past $157. As hyperscalers seek alternatives, AMD’s role in AI architecture is only growing stronger.
Arm – The Quiet Power Player
Arm isn’t just licensing CPU cores anymore — it’s taking big swings in AI. The company is shifting toward custom AI ASICs, targeting the $200 billion custom-chip market. Its tech is foundational in mobile, and now it’s reaching into servers and AI edge devices. Analysts have raised their price targets past $200, betting on the company’s deeper push into silicon. Arm’s dominance in efficient chip design gives it an edge in the AI race.
Broadcom – Infrastructure at Scale
Broadcom’s AI relevance lies in its infrastructure. Its chips power everything from high-speed networking to Google’s custom TPUs. As demand for AI data transfer surges, Broadcom’s optical interconnects and ASICs have become must-haves. The stock is up 58% over the past year. It’s not flashy, but Broadcom is the hardware glue that binds AI systems together — earning it a place in nearly every major data center rollout.
Marvell Technology – Custom AI Muscle
Marvell is betting big on custom AI silicon — and it’s paying off. The company reported a 76% spike in data-center revenue and sees a $55 billion market opportunity for tailored AI chips by 2028. With 18 custom designs already secured and 50 more in development, Marvell’s AI strategy is aggressive. Investors have noticed, sending shares climbing. It’s a second-tier name with first-tier ambition.
Qualcomm – AI on the Edge
While others chase cloud dominance, Qualcomm is quietly conquering AI at the edge. Its Snapdragon processors and new Infiniium AI chips bring machine learning to phones, wearables, and IoT. This push toward decentralized AI plays to Qualcomm’s mobile strength. Shares are rising alongside the broader chip sector. As on-device intelligence becomes essential, Qualcomm stands to dominate where Nvidia doesn’t even play.
TSMC – The Silent Giant
TSMC doesn’t make its own chips — it makes everyone’s. Nvidia, AMD, and Apple all rely on its bleeding-edge fabrication. The Taiwanese firm recently crossed $1 trillion in market cap after a 50% rally. AI demand is supercharging its growth, with Q2 revenue up 38% year-over-year. Expansion plans in Arizona and Japan hint at even more dominance. TSMC is the invisible backbone of the AI boom.
