Nvidia crushes estimates again, but the alarm has been sounded?
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Nvidia vs. Alphabet stock
Macroeconomic issues and concerns triggered a dramatic sell-off in the tech market in 2022 as the Federal Reserve boosted benchmark interest rates to fight inflation. However, the recent advances in artificial intelligence (AI) seemed to be precisely what the sector needed to get back on its feet. The surge in interest in AI has caused a host of tech stocks to recover and soar in 2023.
One of the biggest winners of the AI boom so far has been Nvidia, which has seen its stock rise 242% year to date. The company has become the go-to chip supplier for nearly the entire AI market, and it likely has much to offer stockholders over the long term as the industry continues to develop.
However, software-focused companies like Alphabet $Alphabet-A(GOOGL.US)$$Alphabet-C(GOOG.US)$ are another attractive way to back the AI market. The Google parent has used the last year to invest heavily in the sector and plans to launch a highly anticipated large language model, dubbed Gemini, next year.
These companies are at different stages of their journeys into the AI business, and both could be lucrative ways to profit from the sector over the long term. But which looks like the better buy now?$NVIDIA(NVDA.US)$
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