The demand for advanced semiconductor solutions, AI-driven technologies, and high-performance computing is at an all-time high. While Nvidia (NVDA) remains a leader in GPUs and AI accelerators, other companies are competing in the same space, offering robust alternatives for investors. This blog highlights 5 stocks similar to Nvidia, focusing on their growth potential in semiconductors, AI, and cutting-edge technology.

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Selection Criteria
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1. Market Capitalization

• Definition: Represents the total market value of a company’s outstanding shares.
• Significance: Indicates the company’s size, stability, and capacity to invest in cutting-edge technology.

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2. Revenue Growth Quarterly Annually (Y/Y)

• Definition: Year-over-year percentage change in revenue for the most recent quarter.
• Significance: Reflects market demand, operational success, and potential for future expansion.

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3. Operating Expense Growth Annually (Y/Y)

• Definition: Year-over-year percentage change in operating expenses for the most recent quarter.
• Significance: Highlights the company’s cost management and its ability to scale efficiently in a competitive market.

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4. Net Income

• Definition: The company’s total earnings after all expenses, taxes, and costs.
• Significance: Serves as a measure of profitability and overall financial health.

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5. Net Profit Margin 

• Definition: Percentage of revenue that remains as profit after all expenses for the most recent quarter.
• Significance: Indicates the efficiency of the company’s operations in generating profit from revenue.

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6. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)

• Definition: A measure of a company’s overall profitability from operations, excluding non-operational expenses.
• Significance: Provides a clear view of operational performance, excluding factors like capital structure and tax rates.

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5 Stocks Similar to Nvidia

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5. ASE Technology (ASX)

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• Market Cap: 12.54B AUD
• 1Y Performance: -2.44%
• Current Price: $64
• Revenue Growth Annual (Y/Y): 12.57%
• Earnings Growth Annual (Y/Y): 49.45%
• Net Profit Margin: 32.80%
• P/E Ratio: 26.41
• EBITDA: $1.16B
• Earnings per Share: $2.45

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ASE Technology is a leading provider of semiconductor manufacturing services, specializing in turnkey solutions for AI chips and high-performance processors. 

ASE Technology is known  for its IC packaging services, which involve various packaging technologies including Flip Chip Ball Grid Array (FCBGA), which is crucial for high-performance computing applications. This technology allows for more efficient heat dissipation and improved electrical performance, which is critical for high-speed operations in AI applications.

In 2024, ASE introduced new innovations in 3D IC packaging technology. This advanced packaging technique involves stacking multiple semiconductor dies vertically to improve performance and reduce power consumption, catering specifically to the needs of AI-driven devices.

The company focused on scaling its advanced packaging solutions, which optimize chip performance for AI and machine learning applications. ASE’s strong dividend yield and undervalued earnings multiple have attracted investors seeking exposure to AI hardware manufacturing.

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4. Qualcomm Inc. (QCOM)

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• Market Cap: $185.84B
• YTD Performance: +9.42%
• Current Price: $167
• Revenue Growth Annual (Y/Y): 8.77%
• Earnings Growth Annual (Y/Y): 40.24%
• Net Profit Margin: 28.93%
• P/E Ratio: 116.27
• EBITDA: $13.56B
• Earnings per Share: $3.12

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Qualcomm is a global leader in mobile processors and AI chips designed for edge computing. The company’s Snapdragon processors power AI-driven workloads in smartphones, laptops, and IoT devices. 
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Qualcomm's Snapdragon processors are particularly celebrated for their AI capabilities. The Snapdragon 888, for instance, features a built-in AI engine that enhances everything from photography to gaming experiences on smartphones, making it a popular choice among high-end smartphone manufacturers.
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In 2024, Qualcomm expanded its AI capabilities by launching the Snapdragon X70 5G Modem-RF System, which integrates AI to optimize 5G network usage and enhance wireless performance, pushing forward the capabilities in automotive and IoT applications.
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Qualcomm expanded its edge AI portfolio, emphasizing solutions for automotive and smart city infrastructure. Its advancements in AI-powered communication technologies have positioned it as a critical player in the IoT and edge computing markets.

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3. Analog Devices (ADI)

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• Market Cap: $109.90B
• 1Y Performance: +12.23%
• Current Price: $220
• Revenue Growth Annual (Y/Y): -23.39%
• Earnings Growth Annual (Y/Y): -50.66%
• Net Profit Margin: -35.60%
• P/E Ratio: 67.70
• EBITDA: $4.17B
• Earnings per Share: $6.38

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Analog Devices develops semiconductors for automotive, communications, industrial, and healthcare applications. 
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ADI's renowned ADSP-SC57x/ADSP-2157x series of processors are a hallmark of their product line, offering dual-core digital signal processing ideal for applications requiring high-performance audio and real-time processing, useful in industrial automation.
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ADI recently launched the MaxQ AI acceleration chips, which are designed to support AI applications in automotive and industrial markets by facilitating more efficient processing and decision-making in real-time environments.
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The company integrates AI into its mixed-signal and digital signal processing technologies, enabling advanced automation and predictive analytics. In 2024, Analog Devices expanded its portfolio to include AI-powered solutions for industrial applications, positioning itself as a leading provider of advanced semiconductor technologies for emerging industries.

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2. Advanced Micro Devices (AMD)

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• Market Cap: $198.44B
• 1Y Performance: -27.29%
• Current Price: $122
• Revenue Growth Annual (Y/Y): -3.90%
• Earnings Growth Annual (Y/Y): -35.30%
• Net Profit Margin: -32.56%
• P/E Ratio: 109.31
• EBITDA: $3.85B
• Earnings per Share: $2.65

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AMD specializes in designing and manufacturing high-performance processors for data centers, gaming, and AI applications. Its Instinct MI300X GPU has gained traction among major clients, including Microsoft, for AI acceleration and high-performance computing.
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AMD's EPYC server processors and Ryzen desktop processors are their flagship products. The EPYC series, especially, is crucial for enterprise computing, offering exceptional multi-threaded processing capabilities ideal for data centers and AI computations.
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In 2024, AMD continued to innovate with the launch of its Ryzen 8040 Series, focusing on energy efficiency and processing power. The company remains a key competitor to Nvidia, particularly in the GPU and AI processor markets.
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The launch of the AMD Instinct MI300X series, which are GPUs tailored for AI and high-performance computing markets. This series is designed to handle intense data processing tasks, making it suitable for applications in machine learning and deep learning environments.

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1. Micron Technology (MU)

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• Market Cap: $121.87B
• 1Y Performance: +22.57%
• Current Price: $109
• Revenue Growth Annual (Y/Y): 61.59%
• Earnings Growth Annual (Y/Y): 113.34%
• Net Profit Margin: 108.26%
• P/E Ratio: 31.81
• EBITDA: $8.94B
• Earnings per Share: $1.30

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Micron Technology is a global leader in memory and storage solutions, catering to industries like AI, data centers, and mobile devices. Micron’s High Bandwidth Memory (HBM3E) is their flagship product, which provides extreme bandwidth to feed next-generation data-intensive applications for AI, graphics, network systems, and multi-processor systems where space and power efficiencies are critical. 
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In 2024, Micron increased its production of the 3D XPoint technology, which is used in creating ultra-fast and durable SSDs that improve the performance and reliability of data centers and AI applications, reinforcing their strong position in the memory and storage solutions market.

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FAQs on Nvidia and Similar Stocks

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1. Why look for Nvidia alternatives?

Nvidia is a leader in AI and GPUs, but alternatives like AMD, Micron, and Qualcomm offer competitive solutions at different valuation levels.

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2. What makes these stocks similar to Nvidia?

These companies specialize in GPUs, AI chips, or semiconductor solutions, directly competing or complementing Nvidia’s business.

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3. Are these stocks less risky than Nvidia?

Risk levels vary by company. For example, AMD and Qualcomm are more established, while Supermicro offers high growth potential with elevated risks.

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4. Which stock has the highest AI exposure?

Micron, AMD, and Qualcomm have significant AI exposure, making them top picks for investors focused on this sector.

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5. How should I invest in these stocks?

Diversify your portfolio across multiple semiconductor and AI stocks to mitigate risks and capitalize on broader industry trends.

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Whether you’re looking to diversify beyond Nvidia or explore undervalued players in the semiconductor space, these seven stocks provide exciting opportunities in AI and high-performance computing for 2025.

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Other Ways to Profit from Stocks Similar to Nvidia

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