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When Nvidia beats estimates, these 6 AI stocks tend to rise
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WHEN NVIDIA BEATS ESTIMATES, THESE 6 AI STOCKS TEND TO RISE

Published Tue, May 21 20247:32 PM EDT
Ganesh Rao@_GaneshRao
WATCH LIVE
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Six artificial intelligence-related stocks tend to react positively to Nvidia ’s
quarterly results, according to CNBC Pro analysis. It comes ahead of Nvidia’s
first-quarter earnings this year, which will be released Wednesday after the
market close. Five U.S.-listed stocks — Super Micro Computer , AMD , Marvell
Technology , Vertiv , and Synopsys — along with Japan-listed Advantest Corp have
each risen between 6% and 33% in the past after Nvidia revealed bumper earnings.
CNBC Pro screened for chip stocks in the MSCI World index that rose in both the
fourth quarter of 2023 and the first quarter of 2023. Wall Street analysts
expect Nvidia to beat again on Wednesday, with estimates currently standing at
$5.52 earnings per share. However, some have cautioned that how the AI chip
stock will react this time around is less clear . Super Micro Computer Super
Micro Computer, a tech infrastructure company, has become one of the biggest
winners of Wall Street’s appetite for AI investments. Its stock has surged more
than 900% over the past year. The company builds computer servers containing
graphics processors (GPUs) – the AI chips Nvidia designs. The stock jumped 33%
after Nvidia revealed its last quarterly results. It also rose by over 23% a
year ago when Nvidia reported its first-quarter earnings. Advanced Micro Devices
AMD, the biggest competitor to Nvidia, has also seen its shares jump after
Nvidia’s earnings. The stock rose 10.7% after Nvidia’s most recent results and
11.2% this time last year. The surge in valuations reflect continued investor
hunger for companies that design and sell GPUs for artificial intelligence. Last
year, AMD announced a new chip that could compete with Nvidia’s H100, which is
currently the standard for AI applications. Analysts also see AMD improving its
AI software, eliminating a key reason why Nvidia chips have been preferred over
AMD’s. Advantest Corp Advantest , the world’s largest maker of microchip
testers, has also benefited from the AI-fueled rally. The Japan-listed stock is
up 165% since 2023, following the release of chatbot ChatGPT. The company’s
sales to Nvidia account for about 1% of total revenue. The stock rose 7.5% after
Nvidia revealed its last quarterly figures and 16.2% after the first quarter
2023 numbers were out. The stock is also traded frequently in the United States
over the counter and on exchanges as ADRs. — CNBC’s Kif Leswing and Alex Koller
contributed reporting.

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